PayProp, the automated rental payment platform for residential property managers, is now available in the state of California.
Property managers in the state can now save time and grow their businesses sustainably using PayProp’s real-time payment automation, live accounting and reporting, and sophisticated portfolio management and client communication features.
“California is a significant milestone in our journey and enables us to bring our cutting-edge PropTech solution to an even wider audience,” says Johannes van Eeden, co-founder and CEO of PayProp.
Not only is California the most populous state in the US, it also has the second-highest percentage of renters in the country, at 45%. Four of Zumper's top ten most expensive rental markets are located in California, and WalletHub lists three California cities in its top 15 places for renters.
“There’s infinite potential in California,” says Samantha Ferreira, Head of Client Services at PayProp North America. “And we are fully equipped to cater to the diverse needs of its rental market. PayProp benefits the growth of property managers and the service their clients receive through better portfolio money management, faster payments, and clearer owner insights.”
PayProp debuted in South Africa in 2004, and expanded to the UK in 2015 and Ontario, Canada in 2018. 2019 saw the company's first venture into the United States, opening in Florida before expanding into Texas, Georgia, Illinois, and Missouri.
Globally, PayProp processed $2.7 billion for more than 260,000 active tenancies in the fiscal year 2022–2023.
PropTech pioneers
Bank-integrated payment automation with PayProp enables property managers to cut their portfolio administration time to a fraction, allowing them to focus on business development and managing more doors. PayProp’s North American clients grow 36% on average in the first full year of processing on the platform.
The platform automatically generates invoices ready for approval and bulk sending from the platform, calculates management fees, and allows property managers to reconcile bulk incoming payments and pay owners and contractors in just a couple of clicks.
