Moat has just completed an eight-week trial of Mobysoft’s rent arrears module, resulting in the collection of £37,000 of overdue rent. The success of the trial has meant that Moat has signed a longer-term contract with Mobysoft to reduce rent arrears across its 20,000 properties.
Mobysoft’s rent arrears module bolts onto housing providers’ existing housing management systems and automatically sends residents a message as soon as they fall into arrears, with customer-specific rules ensuring that only those with genuine arrears are contacted.
Femi Odunaike, head of income recovery and financial inclusion, Moat, said, “The collection of low-level arrears has been difficult for us in the past. It took up a large amount of our income officers’ time and when not dealt with quickly could lead to higher level arrears which are harder to collect. By collecting rent on time, it frees up valuable resources in the business and allows us to focus on improving services for residents.
“Mobysoft’s rent arrears module has been very effective at dealing with low-level arrears. Not only was there no disruption during installation, but it intelligently picks those who need to be contacted and sends the text out automatically. We are now collecting more rent faster as well as using our resources more efficiently.”
Mobysoft’s Steele added, “The rent arrears module trial has been a great success. If the same performance is maintained over a 12 month period, this will result in the recovery of £275,000 for Moat, an extra £13.75 per property.”