September 14, 2023

RYPM Resources


Royal York Property Management Listed on Canadian Bill Pay System

Toronto, Ontario--(Newsfile Corp. - September 7, 2023) -  Royal York Property Management, overseen by Nathan Levinson, has been recognized and accredited by numerous Canadian financial institutions for the bill pay system. Taking proactive steps to safeguard both tenants and landlords, Nathan Levinson and his dedicated team at Royal York Property Management have expertly addressed the prevalent security and traceability issues associated with rental scams often occurring via Interac e-Transfer payments in the industry. Their unwavering commitment ensures that both parties can transact with confidence, eliminating the risk of falling prey to nefarious schemes.

The system upgrade was made possible due to collaborations with banking institutions including Scotiabank, TD, RBC, CIBC, HSBC, BMO, National Bank, and DesJardins. These collaborations aim to improve payment procedures and enhance security for property owners and tenants.

With the advent of this innovative system, tenants and property owners can now effortlessly make payments directly from their financial institution's online banking platform or mobile app. Gone are the days of handling rent or placing deposits on properties using cash, certified cheques, or Interac e-transfers. By being a part of the Canadian Bill Pay system, a multitude of potential issues is avoided.

Before launching this system widely, Royal York Property Management carried out testing, garnering invaluable feedback. "We have already informed over 10,000 tenants about the new system. The response has been overwhelmingly positive, with many expressing that they feel much more comfortable using it," stated, Nathan Levinson. Their sentiments underscore the system's success in enhancing transaction confidence for both tenants and property owners. This heightened assurance is further solidified by the rigorous accreditation process required to be listed on the Canadian Bill Pay system. This initiative is a direct response to the rising concerns over online rental scams in property management, ensuring a more secure and trustworthy platform for all parties involved.

Starting this week, individuals utilizing the bill pay system through their Canadian financial institution's online banking platform or mobile app can execute transactions using their designated eight-digit account numbers or lease ID numbers. These details can be found on the Royal York Property Management Portal, designed for both property owners and tenants. For those who are not registered on the portal, they can retrieve their information by calling our helpline, available 24 hours a day, 7 days a week, and answering three unique security questions.

Given the current economic challenges and the difficulties numerous landlords are experiencing because of escalating interest rates, Royal York Property Management has emphasized their readiness to assist Ontario property owners. This aid encompasses support with mortgage payments.

This announcement from Royal York Property Management is a step towards enhancing transaction security in Ontario's property management sector.

About Nathan Levinson

Nathan Levinson, the Founder, President, and Global Director of Royal York Property Management, has been at the forefront of addressing industry challenges since the company's establishment in 2010. Thanks to the sophisticated in-house technology conceived and designed by Levinson himself, the company can meticulously screen tenants with remarkable precision. It's this advanced screening capability that enables Royal York Property Management to confidently offer a rental guarantee to landlords, ensuring they don't have to fret over potential tenant credentials or any fraudulent activities. This innovation not only ensures consistent rental income for property owners but also reinforces trust in the tenant selection process.

About Royal York Property Management

Located in Ontario, Royal York Property Management manages real estate assets valued at over $7.8 billion and oversees more than 20,000 properties across the province. The firm boasts a rich history of managing a significant number of properties and has an expansive presence with multiple global office locations. Offering services in various languages, they prioritize the harmonious integration of people, technology, and strategies in their comprehensive approach.

Click here for the source Yahoo Finance