As Director of the newly-branded Smart Let Wales, Nicholas seized the opportunity to implement cutting-edge technology and take his letting agency to the next level.
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Manual mayhem
Nicholas used to handle rental admin manually, painstakingly sorting through and sending out individual spreadsheets, statements and e-mails. This time-consuming process was not only cumbersome for Nicholas personally, it also threatened the ambitious growth plans he had for the fledgling letting agency. From the moment a PayProp salesperson introduced him to the platform, Nicholas knew it was the perfect solution for his needs.
“Everything used to take ages to do and I just didn't have any information readily available at my fingertips. With PayProp I have that, and it’s fantastic. Plus, PayProp already had a CMP-recognised client account waiting for us when we struggled to get one ourselves.” Nicholas Dunbar, Director
Embracing PropTech
PayProp offers unparalleled efficiency, automating all of the rental admin Nicholas previously did by hand. With just a few clicks, he can now effortlessly generate 100% accurate statements with data pulled straight from the bank, and send them out promptly. Additionally, PayProp's automated notifications alert both Nicholas and his landlords the moment the rent comes in, pre-reconciled to the right tenant and property, which eliminates the need for him to sift through e-mail inboxes for payment confirmations and match them to bank statements.
PayProp also keeps all transactions and communication organised in a permanent, uneditable audit log for the utmost transparency and accountability. And when Nicholas wants to check on the progress of his growing business, he can get an instant live overview from his dashboard or dive deep into powerful and customisable management reports – all generated in real time from real bank data.
“I won't ever need to hire an accountant because PayProp does it all for me.” Nicholas Dunbar, Director
A client-centric culture
Smart Let Wales has expanded from 60 properties to over 140 in just under two years – with more in the pipeline.
Nicholas credits much of this success to PayProp, which not only frees him up to attend to the business and scale effortlessly through automation, but also attracts landlords large and small. With PayProp, landlords receive payments faster than they ever did through manual admin and can track live transactions via their own self-service Owner app.
Tenants also love PayProp for its convenience. They can easily pay online using instant bank transfers through the Tenant portal, any time, anywhere. The self-service element relieves pressure on Smart Let Wales to attend to low-level client queries and focus on higher-value tasks like client service and business growth.
With mundane, time-consuming admin streamlined down to mere minutes, Nicholas can devote more attention to delivering his agency’s renowned service, even going so far as to handle maintenance projects personally.
“I like to say we're big enough to know what we're doing, but small enough to offer everyone a personal service and the time and attention that they need. And we're getting some nice reviews on our Google page from tenants and landlords alike. In fact, one landlord actually mentioned how much PayProp’s automation benefits her.” Nicholas Dunbar, Director
Whether he takes on maintenance issues himself or hires professionals, he relies on PayProp's built-in maintenance hub to efficiently manage requests and ensure speedy payments, which helps foster positive relationships with service providers.
A new era
“PayProp helps us reach our full potential. Moving forward, the plan is to expand to 500+ properties as quickly as we can. And in order to do that, you've got to have your systems in place. PayProp has given us the possibility to do that.” Nicholas Dunbar, Director
