Leaders Romans Group (LRG) has entered a three-year deal with The Depositary, which is claimed will save the company potentially tens of thousands of working hours a year.

The aim of the partnership with The Depositary, an end-of-tenancy PropTech platform, is to deliver key benefits across LRG’s network of brands and offices, including faster deposit returns, an enhanced experience for staff, landlords and tenants alike and to further enhance LRG’s digital strategy.

The Depositary says that its integration with both Propco and InventoryHive will ensure that LRG gets a seamless, ‘best-in-class’ tenancy conclusion eco-system that will save the organisation time.

Michael Cook, group managing director at LRG, said: “I liked The Depositary as soon as I saw it, recognising that Kristjan [Kristjan Byfield, co-founder of The Depositary] had built a product to solve a genuine issue letting agents encounter, rather than a perceived one.

“The end-of-tenancy deposit return process can sometimes be fractious between the tenant and the landlord, with a natural conflict of interest, so anything that can help make the process more transparent is a welcome addition. Since trialling The Depositary we noted turnaround times to release deposits becoming quicker and dispute levels reducing.”

The Depositary and LRG have also just collaborated on a new reporting module within the platform, delivering tenancy conclusion data never seen before. This will help our growing agent community to identify key performance targets as well as opportunities that arise within their businesses.

Agents using The Depositary will have independently verified statistics that can be used to plan and strategise, but also to leverage across marketing and communications.

Byfield commented: “We started talking to LRG before we officially launched and it was clear, even at that early stage, that LRG was fully engaged with what we are trying to achieve and wanted to be part of that journey.

“LRG went even further, engaging us to develop a unique solution for their in-house NDO [No Deposit Option] product offering, ensuring that we could deliver benefits across a broad cross-section.

“We are really excited to be working with LRG’s entire lettings operation and assisting one of the UK’s most dynamic letting agencies service their near 70,000 managed tenancies.”