When we established OB Property it was very important to us that we did it right and started out with the correct procedures in place. We want to be open and fully transparent in all our dealings.
Having a system for managing client and tenant’s money was an important part in this. It is your money and we want you to be confident we are protecting it. After much research we settled on using Pay Prop for our client accounting. As a landlord you will benefit from full transparency and secure immediate access to your account to review completely up to date information whenever you need it.
Below are some of the benefits our landlords receive.
- Monthly owner statements Detailing all transactional money movement against your property within the month period. PayProps’ bank integration means their automated statements are driven by the movement of physical funds, so you are safe in the knowledge that all information presented is 100% reflective of real money movement. They are clear, concise and written in plain English.
Faster payment Thanks to PayProp we can reconcile our client accounts down to £0 each day with ease. Monies received can be paid to you same day as we are now on the faster payments network.
- Bank-grade Security All your data is encrypted and backed up in multiple different locations.
- Payment Advices Will be sent to you automatically each and every time money is collected and processed on your behalf, giving a full breakdown of funds received, deductions made and any monies due to you – In the event that there were not funds due to you, for example – a contractor was owed the full value of rent collected, you will still receive a payment advice detailing the third party in which funds were settled to.