Pre-authorize your property management performance 🔑

In the age of digitalization and automation, real estate players have everything to gain from using pre-authorized payments to improve their property management. Today, performance means saving considerable time, eliminating human error and payment delays.

What is pre-authorized payment?

In use for over 20 years in Canada, this type of service is the most widely used automated payment method for recurring payments such as rent, and is also the safest and least expensive.

How does pre-authorized payment work?

The system is quite simple, contrary to what you might think. It involves 3 simple steps. The property manager or owner:

- obtains one-time authorization (by form) from the tenant to deduct the monthly rent from his account, and requests a copy of the cheque;

- enters the direct debit details in the appropriate online form (or its ProprioExpert real estate software);

- send your transactions the amounts to be paid, depending on the payment frequency, monthly or more if desired.

The benefits of pre-authorized payment for homeowners

. Limits personal time for an important but non-value-added activity if it can be done quickly;
Allows property managers or owners to keep control of their receivables, without having to wait for the goodwill of their tenants;

- Avoid:

o preparation of filing reports;

o trips to the bank;

o deposit delays due to multiple deposits or distance from the financial institution.

- Secure and regularize your receivables;

Is it safe to pay with this payment system?

This is a frequently asked question. Canada's pre-authorized debit regulations are among the most stringent in the world. The regulatory body, Payment Canada, is responsible for the industry. Operators who fail to comply with the regulator's obligations are subject to significant penalties. What's more, you have the right to lodge a complaint in the event of a problem.

You can find out more about this service from Otonom Solution, the only payment solution specialized in real estate in Quebec and a partner of Expert Owner.