Automated rental payment platform for residential rental agents PayProp, is once again thrilled to announce its recognition as Tech Company of the Year – Large at the 2024 Global Business Tech Awards.
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PayProp, the automated rental payment platform for residential rental agents, has successfully defended its title as Tech Company of the Year – Large in the 2024 Global Business Tech Awards.
The Global Business Tech Awards, hosted by Don’t Panic Events, showcase exceptional technological achievements across industries worldwide.
The unmatched payment innovation of the PayProp platform once again wowed judges. Standout features include its live bank integration, smart ring-fencing of funds and automated reconciliation of trust accounts, as well as its ironclad security and suite of ancillary technologies that raise the bar in financial management, transparency and control. These include live landlord and tenant dashboards and self-service, comprehensive business intelligence and client reporting, proactive accounts communication, maintenance management, and more.
The judges highlighted PayProp’s dedication to education and networking with sector leaders, as setting the company apart as true innovators, saying, “Their localised strategies demonstrate a deep understanding of diverse target markets, ensuring tailored approaches for maximum impact.”
PayProp’s win at the 2024 Global Business Tech Awards comes on the heels of its previous success, having secured the same prestigious award last year, reaffirming the company’s position as a tech industry leader.
“A heartfelt ‘thank you’ to the judges for acknowledging PayProp’s contributions to the rental management industry,” says Jan Davel, PayProp’s Head of Group Regulatory Compliance internationally. “This consecutive victory is an immense honour and fuels our excitement for what lies ahead.”
Find the full list of winners here.
Unrivalled innovation
Bank-integrated payment automation with PayProp enables rental agents to cut their portfolio administration time to a fraction, enabling them to focus on business development and managing more doors. As a result, PayProp’s South African 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 commission, and allows rental agents to reconcile bulk incoming payments and pay owners and contractors in just a couple of clicks.
Key PayProp features
Automated reconciliation of rent payments to properties. Set-and-forget payment rules for multiple recipients across entire rental portfolios, enabling bulk settlement in a few clicks. Strict user permissions, access control and full audit logs and client communication logs to ensure the safety of client funds.
Arrears flagged in real time and missed payments recovery with automated reminders to late-paying tenants.
Live management reports for rental 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.
A fully documented application programming interface (API), which allows rental agents to access PayProp data through other PropTech solutions.
PayProp leaders are regularly consulted by the property and business media, and the PayProp Rental Index, published quarterly and based on live payment data, is one of South Africa’s most valued sources of rental market data.
