Following a six-figure investment, The Depositary has made some significant improvements to its end of tenancy platform and updated its pricing model to reflect the ‘added value’ its co-founder and letting agent Kristjan Byfield (main image) has announced.

These additional features include an array of new features and functionality, advanced partner integrations and AI, which will further reduce manual tasks, improve efficiencies, and enhance both the agent and customer experience.

Investing in innovation

Since it’s launch in 2020 when it cost just £50+VAT per license, The Depositary has made just two price increases as it continued to invest in the development and performance of the platform.

Now, with these significant enhancements, they have reviewed the pricing model and increased the rate to £200+VAT for new clients. .

“This pricing update isn’t just about covering costs – it’s about matching the value we deliver to the agents we serve,” says Byfield “We’ve put everything into building a platform that truly makes a difference, and this new phase will allow us to continue innovating and supporting our clients in the best way possible.”

This pricing update isn’t just about covering costs – it’s about matching the value we deliver to the agents we serve.”

He added: “This update ensures that we can continue to provide the high-quality product and service that our clients expect and deserve. We believe this new rate represents incredible value, particularly when you compare it to other products in the lettings proptech (or renttech) marketplace.”

To date, The Depositary has helped agents conclude over 47,000 tenancies, removing over 90,000 hours of admin tasks whilst helping reconcile deposits in approximately half the time.

The new updates are said to just be the beginning of the next phase of growth for the platform, which is committed to continuing its work to automate more processes, reduce manual data entry, and deliver even greater efficiencies.