PayProp shortlisted as Accounting Tech of the Year at 2024 US FinTech Awards
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PayProp - dashboard view of platform
PayProp - bank-integrated payments view of platform
Property management platform automating rent collection, reconciliation, and distribution in running for Accounting Tech of the Year
Presented by FinTech Intel, the awards honor “the most innovative and successful businesses in financial technology and services”. An independent panel of industry leaders noted that the candidates were exceptionally strong this year.
"We thank the judges for this nomination as it recognizes PayProp's leadership in the FinTech industry," says Samantha Ferreira, Head of Client Services at PayProp North America. "Easy to use and an ideal match for all portfolio sizes, PayProp is the ultimate tool for simplifying rental payment accounting, leaving spreadsheets in the past and guiding property managers into a low-admin, high-growth, high value-add future.”
Earlier this year, PayProp also earned accolades at the PropTech Breakthrough Awards, the Global Business Tech Awards, and the Property Reporter Awards.
Winners will be announced at a black-tie ceremony at The Rooftop at Edison Ballroom in New York City on Thursday, November 14.
UNRIVALED INNOVATION
PayProp’s bank-integrated payment automation enables property managers to cut their portfolio administration time to a fraction, helping them to focus on business development and managing more doors. As a result, PayProp’s North American clients grow more than 20% on average in their first full year of processing on the platform.
The platform automatically generates bulk rent and other invoices ready for approval and sending from the platform. Once payment is received, it automatically calculates management fees, letting property managers reconcile bulk incoming payments and pay owners and contractors in just a couple of clicks.
Key features of the PayProp platform include:
- Automated reconciliation of rent payments to properties;
- Set-and-forget payment rules for multiple recipients across entire property portfolios, enabling bulk settlement in a few clicks;
- Strict user permissions, access control, and full audit and client communication logs to ensure the safety of client funds;
- Arrears flagging in real time and missed payments recovery with automated reminders to late-paying tenants;
- Live management reports for property managers to check the financial health of their portfolios and benchmark themselves against competitors;
- Comprehensive client reporting (Owner, Property and Tenant statements, portfolio reporting and live portfolio dashboards);
- An Owner app that enables owners to view always-accurate account totals with the most up-to-date status of their portfolio's balance;
- A Tenant portal that allows tenants to view their entire invoice and payment history, make fast online bank transfers, and request maintenance services; and
- A fully documented application programming interface (API), which allows property managers to access PayProp data through other PropTech solutions.
ABOUT PAYPROP
PayProp is an automated rental payment and reconciliation platform for the property management industry. Launched in 2004, the company has grown quickly to become a leading processor of rental payments for residential properties, and today serves a large and diverse customer base of property professionals, processing $2.7bn in rental payments annually. The platform sets the standard for speed and accuracy of payments as well as cost and payment status transparency, offering customers complete transactional control and regulatory compliance.
On December 4, 2023, PayProp and Reapit announced that the two companies were merging. The combined company will offer clients the opportunity to have a single provider that delivers capabilities across sales, property management, and trust account management.
Learn more at www.payprop.com and subscribe to the monthly PayProp Insights and PayProp blog for news, analysis and thought leadership on the residential rental market.
Caitlyn Conville
PayProp
caitlyn.conville@payprop.com
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