Property management software COHO has selected GoCardless, the global bank payment company, to provide bank payments to its property managers.
Through the move, COHO aims to enable its customers — namely single-let landlords, property managers and landlords of houses in multiple occupancy (HMOs) — to collect recurring and one-off payments through a single platform, offering their tenants a smooth, seamless payment experience.
The integration includes direct debit, helping landlords and property managers automatically collect regular rent payments on the day they’re due. COHO customers can also access GoCardless’ open banking-powered Instant Bank Pay, making it easy to take one-off payments for rental deposits and ad hoc charges without the high fees often associated with cards.
Tom Metcalfe, director of UK&I partnerships at GoCardless, said: “We’re excited to partner with COHO to simplify payments for landlords, property managers and their tenants. With automatic collection, instant visibility and one slick flow to set up end-to-end payments for new tenants, GoCardless bank payments are ideal for the property sector. We look forward to raising the bar on the payment experience together with COHO.”
The GoCardless platform aims to provide better insights for landlords and property managers. It records rental payments in real-time, affording them peace of mind and, in the case of late payments, the option to immediately implement credit control processes within the platform. This will help COHO customers contain and manage rent arrears, whilst remaining compliant with the latest property regulations.
Vann Vogstad, founder and CEO at COHO, also commented: “This integration is perfectly aligned with our mission of helping customers grow whilst also improving the tenant experience. The unique combination of direct debit and open banking creates a seamless payment journey for tenants while reducing admin, costs and late payments for landlords and property managers. We have every confidence that this partnership will significantly reduce the payment admin burden for our customers.”
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