With so many different tasks to juggle, Kenia turned to technology to help her manage her payment administration. But it turned out to be surprisingly difficult to find the right solution – after trying out three different property management software platforms, she found that none of them really seemed to reduce her workload.
It used to take me two to three weeks to get to the final deposit,
which is what the client really focuses on, says Kenia.
Most of her month was taken up with processing payments – leaving
her little time to focus on delivering great service, especially
with her realty business to focus on as well.
Finding a way forward
In late 2019, Kenia discovered PayProp, and immediately realised the time savings that bank integration and payment automation could deliver.
Unlike many legacy property management software platforms, PayProp is highly specialised and streamlined. The platform is focused entirely on making rental payment processing quick, easy and error-free. Collecting rent from tenants, deducting commission and paying out to property owners and contractors is fully automated – and since Fortuna’s property management trust account is bank-integrated, full reconciliation takes as little as three clicks. The platform automatically generates reports in real time using live bank data, giving Fortuna a complete and accurate overview of their financial position at all times.
And the benefits go beyond speed and accuracy. Because Fortuna can trust that repetitive payment processing is being taken care of by PayProp, its staff can focus on the parts of the job that require a human touch – signing up new landlords, handling tenant issues and delivering great service.
Trying a new approach
Kenia signed up as a PayProp customer in November 2019 and saw a difference in her workload from day one.
Now PayProp helps me with the reconciliation of payments every
day, she says.
Reports are generated automatically and with one click you have
already deposited the rent to your client. That is what helps me
most in my day-to-day, and it gives me time to focus on my work as
a broker associate.
Kenia also has some words of advice for other property managers.
Having the experience that I’ve had with PayProp, I advise them to
stop looking for a property management system.