PayProp Reviews

“Best among the rest

Pros

I would say it is a great alternative among property management products as it has a simple design and virtual management of properties and tenants. Also the support team is knowledgeable and very helpful to work with.

Cons

Entering data is tough and takes a lot of our time. Also the interface can be a bit slow to navigate.

“Covers almost everything we want

Pros

PayProp's features cover many important tasks for us eventually saving a lot of time. Also the support team is amazing.

Cons

I wish their platform let me run credit checks.

“Does exactly what you expect

Pros

It really helps us in managing both our properties and tenants that too in a proper manner.

Cons

Well it takes some time to get familiar with it but once we do it works well.

“Works as expected

Pros

I like how it handles moving large sums of money in one day and sends rent reminders to tenants to help ensure payments are timely.

Cons

The PAD method takes three banking days and weekends or holidays don't count as banking days which frustrates me a lot.

“Offers the best assistance

Pros

We really like that tenants can pay online and PayProp takes care of distributing owner payments, management fees and vendor payments. Also the support has been excellent and the best thing is that they are always willing to guide us through reports for better understanding.

Cons

I am not happy having to use Bank of America for accounting. Also there is not enough training available to help me learn the system which makes the software hard to navigate than we expected. But once I learn how to enter data into property and tenant accounts, I think it will get easier. Plus we don't like that we cannot see much about the Bank of America account as we do not get bank statements and can only make deposits, nothing else.

“We really like it

Pros

I love the freedom this software gives me to work remotely from anywhere.

Cons

It has been great overall as I cannot think of many drawbacks.

“a new era to rental management

Pros

The best thing about PayProp is the real time rental management and secure payment environment that helps me prevent missed payments.

Cons

I believe their technical support and customer service could be improved.

“Top quality software

Pros

It saves so much time. Before I had to print bank statements and manually reconcile payments with property software. Now I just reconcile and send.

Cons

The initial setup was challenging probably because we have so many properties.

“Makes our job simple

Pros

PayProp software is very easy to use and manage with multiple payment runs daily and weekly that prevent delays for both clients and our income. The transparency helps avoid questions about client statements as everything is detailed. Also it offers a high-level overview of daily account management and arrears, plus deeper insights into business finances like income categories and forecasts by branch. The support from the team and account manager has been amazing too from day one. After using an external accounts team for over 10 years, switching to this was a big change. Feedback is welcomed and many suggestions like quarterly payment frequencies were quickly implemented. Initially we worried about the software cost given seasonal student lettings but support time has been great helping us across multiple branches and follows up to ensure we understand the software well over the year.

Cons

Nothing comes to my mind as an issue right now.

“Close to perfection

Pros

It is easy to use and understand and it provides us detailed information we looking for.

Cons

I don't like that I cannot open more than one account at a time.

“Not as good as we hoped it would be

Pros

When demonstrated it seemed pretty simple to use. Although not made specifically for block management as we were confident it could be adapted to fit our needs.

Cons

Adapting to block management has been really hard for us. Senior PayProp staff visited and promised better performance but we have seen little improvement. Even our accountants struggle to understand the complex statements. NatWest has been slow and five months later we are still waiting for a paying in book we requested. I called customer service today but no one answered or called back. And the unique customer references have been recorded incorrectly by NatWest branches causing many unreconciled credits.

“A must-have for serious property management

Pros

It automates your whole payment and reconciliation process which saves time and money and almost eliminating human errors. Invoices, remittance, payment statements, extensive reports and accounting features are all taken care of, so you can focus on customer service and growth. Also the customer support is excellent.

Cons

What is not to like? However if they add document sharing and improve reminders a bit I think it would easily be the most cost-effective tool available.

“Very accurate

Pros

There is a simple connection between all properties and payments. Also I like the fact that it is 100% accurate with no errors.

Cons

Setting it up takes time and can be tedious but I would say it's worth it once all the data is entered and updated.