Prevent and recover rent arrears
Stay ahead of arrears
Catch arrears before they become a problem with live payment status views. Send proactive reminders via email and text messages to prompt tenants to pay their rent.
- Payment reminders
- Many ways to pay
- Automated late fee billing
Effective arrears management
See how PayProp helps property managers handle and reduce tenant arrears from day one.
Long-term arrears trends
Every month PayProp’s management reports will give you a snapshot of tenant payment data, letting you see how effective your team is at chasing arrears.
Dashboard arrears alerts
PayProp knows exactly when the rent is due for each of your tenants. If a tenant misses a payment, it is automatically highlighted on your PayProp dashboard so you can take action.
More ways to pay
Your tenants get many easy ways to pay with PayProp, including online, via bank transfer and using ACH debit – so no matter if the bank is closed, they can still pay the rent.
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Instant arrears alerts
PayProp shows and notifies you when a tenant hasn't paid. Send email and text reminders easily from within the system - 64% of tenants respond within 48 hours.
Prevent and reduce arrears
Tenant Assessment Report
PayProp’s Tenant Assessment Report gives agents more information to vet a tenant. Our report includes not only a traditional credit score, but a combined score based on rental payment data from previous tenancies managed by PayProp-powered agencies.
- More information than a normal credit report
- Always available for free
- The PayProp Rental Risk Score
Tenant payment profiles
PayProp will create a snapshot of tenant payment data on the 8th of each month, which the main administrator can check from the 10th of each month before submission. This process can be automated.
- Building a better picture of tenants’ ability to pay
- Data-enriched Tenant Assessment Reports
Rent arrears letters
- Generated at the push of a button
- Completely transparent
- The arrears amount is read directly from bank files, which are integrated with the PayProp platform.
Letters of demand
If tenant arrears are not reduced as a result of PayProp’s friendly payment reminders, agents can send the tenant a letter of demand through the PayProp system. This letter is a formal legal instrument and can be used as a precursor to an eviction notice if the tenant still fails to settle their debt.
More features
Reporting
PayProp’s advanced industry trends analysis keeps you fully informed, allowing you to make the best decisions possible for your property management business.
Security and compliance
Thousands of property managers trust PayProp to manage their payments, so our top priority is to ensure that their data is kept secure.
Arrears management
Catch arrears before they become a problem with live payment status views. Send proactive reminders via email and text message.