A new business ‘incubator’ service has launched aimed at enabling experienced lettings and property managers to go it alone.

PreKey has been in beta testing for the last year and is aimed at helping seniors in the industry make the transition from employee to high street business owner without having to set up a full-blown office or join a franchise network.

Describing itself as a “software as a service”, users – it says it already has one, with five more in the pipeline – trade under their own brand, own all their listings and set their own fees, but are offered IT support and unlimited marketing on Rightmove, albeit under the PreKey brand.

The system handles day-to-day tasks like messaging tenants, arranging viewings, handling applications, conducting referencing and managing tenancies as well as ordering floor plans, gas certificates, EPCs and photography.

There are also document templates available plus legal advice.

Tenants also get their own dashboard which can be connected to FixFlo, helping improve communication during tenancies.

Co-founder Carl Kettleborough said that for most people wanting to set up their own lettings business, the leap into self-employment requires nerves of steel and deep pockets.

He said: “The prospect of paying out for letting agency services, compliant contracts, software, phone systems and premises before the first client even comes through the door means many talented people stay put, often on relatively low wages given their ability and industry knowledge.”

The service does not make a cut from its business users’ earnings, but charges £300 a month – discounted to £150 for the first three months while new users find their feet.

www.prekey.co.uk