Residential lettings agents can keep on top of rent arrears without tying up staff for hours on end to chase overdue payments thanks to new software from a Cumbrian firm.

 

The mobile communications specialist SMS Speedway has developed software that automatically sends reminders to tenants, followed by warnings if they fall behind, then thanks them when their payment is received.

It can also notify landlords when rent is paid or if a tenant is in arrears.

Bradley Kieser, chief executive of SMS Speedway, said: “Chasing rent arrears is time consuming and it’s taking up ever more time as the cost-of-living crisis pushes more tenants into arrears. 

“Our system allows agents to redeploy staff to more productive, revenue-generating activities as well as providing a better service to the tenant and, most importantly, the landlord.”

SMS Speedway’s service integrates seamlessly with customer relationship management systems.

It is completely flexible, allowing the agent to dictate the content of messages and when they go out.

For example, it can be set to send a reminder a few days before payment is due, another reminder on the due date then a series of messages – becoming progressively sterner in tone – once rent is overdue. Once the tenant pays, the reminders stop and they get a ‘thank you’ acknowledgement. Messages can be delivered by text, email and various messaging platforms such as WhatsApp, Messenger, Twitter direct messages, Instagram and Signal.

Bradley said: “Sending a reminder before their rent is due can be beneficial, especially for tenants who don’t pay by standing order or direct debit who might genuinely forget their rent is due.

“Thanking tenants when they pay isn’t only polite, it’s good practice. When tenants see that their payments are being noted, they are less likely to default. 

“And the ability to notify the landlord when payments are made is an added-value service at minimal cost.”  

If the messages don’t prompt payment, and the tenant is deemed to be in default, the system can issue the required statutory notices.

It can also integrate with SMS Speedway’s ACE – Advanced Customer Engagement – system, which uses an AI chatbot to engage with tenants in arrears to find out why they have fallen behind and when they might pay.

Bradley added: “Tenants in arrears are more likely to talk to a non-human than a human because it takes away any embarrassment they might feel.”

SMS Speedway, based in Carlisle, Cumbria, has more than 20 years’ experience of working with the property sector. 

Users of its rent arrears software pay a one-off set-up charge followed by a modest monthly subscription.