Streamline Complex Rent Collections with Konnexsion’s Payment Plan Feature

2 min read
Apr 25, 2024
Updated: May 14, 2024

Introduction: Managing rent collections can be complex, particularly when payments arrive from various sources such as Housing Benefits or Universal Credit at different times. At Konnexsion, we recognise the challenges faced by property managers in maintaining a consolidated view of their finances. That’s why we’ve developed a robust Payment Plan feature, designed to simplify this process.

Understanding the Payment Plan Feature: Our Payment Plan feature is a testament to our commitment to simplifying property management. It addresses the complexities of rent collection in scenarios where rent involves multiple transactions between tenants, landlords, and other entities.

Key Benefits:

  • Multiple Payment Sources: Whether rent payments are made directly by tenants or through government aids like Housing Benefits or Universal Credit, our system effortlessly accommodates and tracks each distinct source.
  • Delayed and Split Payments: Rent collection isn’t always timely or complete. Our feature allows you to flag invoices expecting delayed or split payments, providing clarity and control over each financial transaction.

Why It Matters: Navigating rent payments without a clear system can become a cumbersome task. The Payment Plan feature ensures that you can:

  • Gain a Single Consolidated View: Quickly access consolidated reports of due payments, upcoming receipts, and partial payments all in one place.
  • Reduce Administrative Burden: Spend less time on manual tracking and more time enhancing tenant relationships and expanding your business.
  • Improve Financial Accuracy: Accurate tracking leads to better financial management, reducing confusion and errors in bookkeeping.
  • Enhanced Dashboards and Reporting: Enjoy improved dashboards that provide deeper insights into your financial status at a glance.
  • Clearer Understanding of Future Cash Flows: Anticipate future cash flows with greater accuracy, helping you plan and allocate resources more effectively.

Conclusion: Konnexsion’s Payment Plan feature is designed to make rent collection as straightforward and stress-free as possible. By providing a detailed, organised system to manage various payment timelines and sources, we help property managers maintain clarity and control over their financial operations.

Explore More: Discover how Konnexsion can transform your approach to property management. Visit our features page or contact us directly for a demonstration of how our Payment Plan feature can simplify your rent collection process.