Smarter collection: How housing associations find peace and return
The traditional rent collection process at housing corporations is under pressure. While the mission of the corporate sector: Offering a roof over someone's head is key, in practice, employees are often swallowed up by Excel lists and red tape. During our recent webinar at Aareon in Emmen, with more than 130 enthusiastic participants, Rodney and Jeroen from POM-Mind2Pay delved deep into the solution: innovative rental collection software that puts the tenant first again.
In this blog, you'll find the most important insights from the webinar. How do you transform a reactive process into a proactive, social approach? And how does POM-Mind2Pay help you automate 85% of the actions?
The philosophy: from “raising a puppy” to customization
The foundation of effective rental collection software is not only technology, but above all a vision of human behavior. The POM-Mind2Pay philosophy is simple: automate everything that is predictable, leaving time for the 15% of tenants who really need help.
Rodney explained during the webinar that each tenant requires a different approach. For example, a “new tenant” needs additional monitoring in the first six months. We jokingly call this “raising the puppy”. By taking a short break from day one, you prevent tenants from getting used to a slow collection process and prevent small arrears from growing into problematic debts.
Did you know that? > Many corporations are still working with Excel lists to check payment arrangements. In a modern rental collection process the computer does this work, reducing the margin of error to zero and increasing efficiency.
The Power of Segmentation: 14 Categories
One of the most valued features within POM-Mind2Pay is the automatic customer classification. Every night, the software analyses the payment behavior of the tenants and classifies them based on 14 different categories.
A few examples of these categories:
- The Green Flow: For high-paying tenants, everything is fully automated. They receive friendly memories with a soft tone-of-voice.
- The Departing Tenant: As soon as an end date appears in the source system (such as Tobias), monitoring becomes sharper. After all, you don't want a tenant to leave with an outstanding debt.
- Tenant with Aftercare: Tenants who come out of administration are treated as new tenants to help them get back on their feet.
Curious about what your tenant portfolio looks like in our software?
Early warning: prevention too late
There is a lot of talk about early signaling in the market, but Rodney is critical: “In practice, early signaling is often actually 'too late'”. The law states that we must send signals, but the real profit lies in trading within 30 days.
In the rental collection software from POM-Mind2Pay, the early signaling module runs fully automated across all flows. As a result, no valuable time is lost on administrative checkmarks, but the employee can immediately schedule a home visit if the situation requires it.
Watch the full webinar
Did you miss the webinar or do you want to relax again? You can find the full recording below.
Benefits for the housing association and the tenant
Implementing POM-Mind2Pay provides benefits at three levels:
- The tenant: Feels heard. Because the employee has more time for a good conversation and home visits, tenant satisfaction demonstrably increases.
- The employee: Can finally do what he or she was hired to do: help people. The administrative burden (“bulk mailing”) disappears.
- The organization: The outstanding balance is falling, the number of bailiff files is decreasing and portfolio control is increasing thanks to the 46 available management reports.
Do you want to reduce the administrative burden on your team?
Integration with Tobias and other systems
A frequently asked question during the webinar was about the connection with source systems such as Tobias van Aareon. POM-Mind2Pay acts as a shell around your ERP system. Every night, all data is synchronized and changes are retrieved every hour. As a result, you always work with current data without having to manually transfer data.
Actions such as transferring a file to the bailiff also take place at the touch of a button, with all relevant documents (such as the WIK letter and early warning correspondence) automatically sent along.
Getting started: implementation in 8 weeks
The journey from demo to 'live' does not have to be an annual plan. At POM-Mind2Pay, we use a tight implementation plan of an average of eight weeks. Because we have a strategic partnership with parties such as Aareon, we can arrange data exchange quickly and securely.
Not completely convinced yet? We now have 39 housing associations as a customer. Rodney's advice is simple: “Check out a fellow corporation that already works with us. We would love to get you in touch and then get away so you hear an honest story”.
Ready for the next step in social debt collection?
Conclusion
Rent collection is more than just collecting money; it is an essential part of a housing association. With the right rental collection software you transform a process full of stress and lists into a streamlined operation where the human touch is again leading.
After reading this blog, do you still have specific questions about the link with your ERP or how early signaling works? Let us know or contact Rodney right away!
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