Six years on, as Managing Director and Lettings Manager, Matt leads a small, close-knit team of property industry experts that also includes his sister. Together, they strive to help landlords and tenants in any way they can, treating each client as part of their extended work family.
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But the sheer volume of admin and paperwork that comes with a thriving lettings department threatened to harm the company’s hard-won reputation for customer service. Thankfully, Matt found PayProp, and the rest is history.
Growing pains
Matt had always found rental administration to be a headache. Previously, he was doing it all manually – constantly verifying payments, jotting down numbers by hand, double-checking for accuracy and sending out individual statements. It was a never-ending ordeal, especially as the business grew. When he first joined the family business, they were handling around 30 rental properties. But before long, they quickly scaled up to 177.
At the time, I was basically putting in a full day just to do the payments. Finally, I thought, with the number of properties we’ve got, I didn’t want our quality of customer service to drop. It was time to take our business to the next level with PayProp. And the transformation has really been like night and day. Matt Price, Managing Director & Lettings Manager
Priorities in order
Having come across favourable online reviews of PayProp, Matt was primed when he scheduled a demo. Seeing the platform in action sealed the deal for him. Soon, all that tedious manual rental admin would be a thing of the past.
Everything from invoicing to reconciliation to landlord payouts is fully automated with PayProp – even letting agent commission is automatically calculated and paid out.
Matt and his landlords receive instant notifications as soon as the rent hits their bank accounts (and, simultaneously through bank integration, PayProp). No more having to keep tabs on multiple accounts. And if a payment is running late, approved tenant arrears reminders are sent out automatically.
While Matt oversees the rental admin, all staff have access to the PayProp platform. But with customisable user permissions, Matt can tailor access levels for each team member as needed. Granular portfolio oversight, notifications and a permanent audit trail of all system actions by the team in addition give him the control he needs for ultimate peace of mind.
I’ll just come in, open the platform, and at the click of a couple of buttons, payments are done and dusted. It’s a ten-minute job. Now I can focus on other things that actually drive the business forward. Matt Price, Managing Director & Lettings Manager
That effort paid off – Price & Co Properties now boasts over 200 properties.
While there are no immediate plans for further expansion, it’s comforting to know that scaling up would be effortless with the PayProp platform, should the opportunity arise. “We could add 50 or 75 new properties tomorrow, and with PayProp we could handle it,” Matt says.
Client benefits
As Matt tells it, PayProp would probably play a big role in attracting those extra landlords to Price & Co Properties in the first place.
When Matt and his team head out on sales calls, they make sure to bring along PayProp materials outlining all benefits using the platform offers landlords, be-cause they know they’ll be a big hit.
Landlords love the thought of having dedicated Property accounts, monthly itemised statements, and above all, the speed and convenience of PayProp’s automated straight-through processing.
It’s important to landlords that they get their payments on the same day the rent comes in, whether that’s morning, noon, or night, on the first, middle, or last day of the month – and I like that we can guarantee that with PayProp. Matt Price, Managing Director & Lettings Manager
Plus, Matt knew from his initial research that PayProp keeps all data secure and encrypted – features appreciated by landlords and tenants as well. PayProp client accounts are also recognised by all client money protection (CMP) providers, which makes renewing the businesses’ annual policy easy.
More than a product
From onboarding to ongoing support, Matt says he has encountered only friendly and helpful folks at PayProp, eager to assist at every phone call. The new PayProp knowledge base means that even when support phone lines are closed, Matt and the team can find the answer to the most common platform questions in the numerous, easy-to-use guides on offer.
PayProp isn’t just a platform, it’s a long-term relationship. They’re there every step of the way, helping you use it to the best of your ability. We’ve always admired that about the PayProp team because, like us, they prioritise personalised service. We make sure clients don’t feel like they’re just a number. As soon as a client is on board, we are going to make them feel valued and deliver on our promise of exceptional customer care. Matt Price, Managing Director & Lettings Manager
Indeed, PayProp and Price & Co Properties have the same core values in common, and PayProp is proud to help Matt and his team maintain (and grow) the family spirit of their lettings business.
