Mobysoft team up with Moat
Mobysoft has signed with South East based affordable housing provider, Moat, following a highly successful eight week trial of its Rent Arrears Module.
Moat owns and manages over 20,000 homes and during the trial, £37,000 of rent in arrears was collected from residents. Mobysoft are market leaders with over 40 social housing clients across the UK.
For Moat, as with all housing associations, the pursuit and recovery of late, unpaid rent is a continuous and often costly battle. Residents can struggle to make rent payments for a wide variety of reasons, and when these are totaled across thousands of properties, the accumulated arrears can be significant and challenging to manage.
Mobysoft’s Rent Arrears Module bolts onto housing associations’ existing housing management systems and intelligently sends a message to residents at the point that they fall into arrears whilst customer specific rules ensure that only those with genuine arrears are contacted.
Statistics prove that the key to recovery is early intervention.
Low level arrears are dealt with quickly, before they can escalate and become increasingly problematic, meaning that income officers time saved as a result of the automated process can be focused on the retrieval of high level, complex arrears.
Femi Odunaike, head of income recovery and financial inclusion at Moat, said; “The collection of low-level arrears has been challenging for us in the past; it took up a large amount of our income officer’s time and when not dealt with in a timely fashion, could lead to higher level arrears which are more difficult to collect. By collecting rent on time, it frees up valuable resources within the business and allows us to focus our efforts on further improving services for residents.”
Femi continues; “Mobysoft’s Rent Arrears Module has been very effective at dealing with low-level arrears. Not only is there zero disruption during installation, but it intelligently picks those who need to be contacted and sends the text out automatically.”
Femi concludes; “Not only are we collecting more rent, more quickly, but we are now more efficient.”
Derek Steele, Managing Director of Mobysoft, said; “We’re absolutely delighted to be working with Moat. The Rent Arrears Module trial proved to be a great success and if the same performance is maintained for a 12 month period this will result in the recovery of £275,000 for Moat, an extra £13.75 per property.
“The trial confirms that a focus on low level arrears today not only helps prevent them becoming the high level arrears of tomorrow, but also generates significant income and efficiency savings.
Derek concludes; “We’re looking forward to helping Moat recover as much rent as possible in the future.”
