COVER FEATURE
sustainable in tough market conditions than property sales alone . However , when adding rentals to your arsenal , this should be managed well , and the agency should take very diligent care of their landlords ’ and tenants ’ finances ."
Many property entrepreneurs focused on rentals find the significant ongoing payment administration and strict industry regulations difficult to manage . Davel says it ’ s important to identify the right tools that will automate all the critical payment administration required each month . PayProp is such a tool , automating rental collections , bookkeeping and payments in a couple of clicks so the business owner can focus on the business .
With so much protection and value out of the box , PayProp is an excellent business tool - some agents say it is their most valuable business tool . But PayProp is much more than a tool – for start-ups , it can literally be their business in a box .
In addition , using an “ accredited payment processing agent ” like PayProp can soon exempt a startup rental agent from having to operate a trust account and having it audited , as long as they follow the correct procedure as prescribed in the imminent Property Practitioners Regulations .
As a result , entrepreneurs in emerging market areas , such as Soweto in Gauteng and areas of the Cape Flats in the Western Cape , can enter an exciting industry with recurring revenue bolstering their business , safe in the knowledge that their admin and payment compliance is taken care of .
“ We are proud to help the industry redress historic imbalances by opening up business opportunities in the private rented sector ,” says PayProp SA board member , Brenda Matyolo . “ PayProp ’ s offering represents the state of the art in rental payment automation and outof-the-box payment compliance , all for a minimal monthly percentage fee affordable to all sectors of society .”
" Property rentals add recurring monthly revenues that render the business more resilient and sustainable in tough market conditions than property sales alone ."
The CEO ’ s Vision As a qualified attorney with right of appearance in the High Court of South Africa , Davel ’ s ambition was once to head one of the biggest law firms in South Africa .
And indeed , most of his professional experience has been in legal roles , but now he has found his forever home in the real estate industry .
16 NOV 2021 SA Real Estate Investor Magazine