PayProp

PayProp automates the money side of lettings. Rather than covering the whole agency workflow, it concentrates on the part that is most repetitive and least forgiving of error: collecting rent, reconciling it against the right tenancy, and paying landlords and contractors what they are owed.

What It Does

• Client accounting: automated reconciliation of incoming rent against tenancies in real time
• Arrears: live arrears positions with automated text and email chasing
• Payments: outbound payments to landlords, contractors and the agency’s own commission
• Tenant portal: for rental payments and account visibility
• Maintenance: repair and maintenance ticket handling
• Reporting: portfolio-level analytics for the agency

Position

Client money is the highest-risk part of running a lettings book: it is regulated, it is audited, and manual reconciliation is where errors become liabilities. PayProp’s argument is that a purpose-built reconciliation engine removes that risk more reliably than the accounting module bundled into a general CRM, which is why it is commonly run alongside a separate sales-and-lettings CRM rather than instead of one.

The company states it works with over 1,300 UK letting agencies, serves 2,500 customers globally, and processes £2.6 billion annually. It operates internationally as well as in the UK.