GoCardless Instant Bank Pay-powers one-off payments via open banking image credit shutterstock

Property management software COHO has selected GoCardless to provide bank payments to its property managers.

This will allow COHO’s customers – single-let landlords, property managers and landlords of houses in multiple occupancy (HMOs) – to collect recurring and one-off payments through a single platform. In turn, the partnership aims to give tenants a smooth, seamless payment experience.

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The integration includes direct debit, helping landlords and property managers to automatically collect regular rent payments on the day they’re due.

GoCardless Instant Bank Pay-powering one-off payments via open banking

COHO customers can also access GoCardless’ open banking-powered Instant Bank Pay. This makes it easy to take one-off payments for rental deposits and ad hoc charges without the high fees often associated with cards.

GoCardless says its platform will provide better insights for landlords and property managers. Rental payments are recorded in real-time. This affords 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.

Tom Metcalfe, Director, 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.”

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Vann Vogstad, Founder and CEO at COHO added: “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.”