Rentancy’s Vision for 2023
2022 has been an exciting year in many ways for Rentancy. Our team and product have grown substantially. In 2022 Rentancy became part of Chime Technologies Inc, a market leader for CRM software in the US Real-Estate market. This is enabling Rentancy to evolve into a fully fledged PMS solution and a comprehensive services business.
We have been carefully studying how RoPA will affect our clients, we have been busy registering ourselves with ARLA and the CMP schemes and we have had loads of client accounting insights having spoken to experts and customers at events and conferences. This all gives us a good basis for our new and continuing commitments in 2023.
Rentancy and 2023
As a business, we believe 2023 will be more challenging than 2022. We are doing 3 things to prepare our business:
- Operational excellence – we are implementing our own best practices throughout the business to systemise our way of working and how we work with our agent and landlord clients.
- Hiring the best talents – we continue to look for and recruit exceptional industry talent to Rentancy in client accounting, bookkeeping and property management.
- Industry partnerships – we will expand our partnerships with industry leaders and thought leaders in the industry.
Our company has a mindset that embraces certain principles and tools to create a culture of excellence within the organization. Every our employee can see, deliver, and improve the flow of value to our customers.
It’s becoming harder for agents to manage their client accounting practice with banks such as Lloyds and NatWest proactively terminating business relationships with Agents and we believe this will only continue. Our view is that the industry will become more regulated and it will have an impact on client accounting to the point at which it may become a requirement for agents to have an external company managing their client accounting and providing audits.
This is where a specialist provider of accounting services like Rentancy will be able to show its capabilities and show its operational excellence. For property management, we can see more and more educated VA’s and admin support helping property managers to manage their properties more effectively and start opening up opportunities for property managers to start up-selling their services and converting let-only properties. This coupled with the requirement for ARLA qualifications will help upskill the industry.
Hiring the best talent
Rentancy has been known for its exceptional team of professionals. Every employee has at least 10+ years of experience, the highest level of qualification and a plan for further development as an expert. Read a blog post about our Head of Operations and Client Success.
Becoming a member of ARLA Propertymark* at the end of 2022 was a positive step for Rentancy. This provides our agents with the security and validation that we adhere to higher industry standards than the law demands and shows that we are experts in property management and client accounting, ensuring that we only provide a first-class service.
Our team has been undertaking and is going to undertake regular training to ensure adherence to the best practices and complex legislative changes, to be able to offer you and your clients the best advice.
*ARLA is the Association of Residential Lettings Agents and is a membership division of Propertymark, the professional body for the property sector dedicated to promoting the highest industry standards.
How can Rentancy help?
Rentancy has an expert team of highly qualified bookkeeping and property professionals with collectively 50-years experience.
- Advice on setup and structuring of bookkeeping processes
- Help resolve balances in existing accounts
- A Balance scorecard of how well an agent is operating
Client Accounting Services:
- Daily bank reconciliations
- Rent collection
- Process contractor payments
- General accounts query handling
- Process landlord payments
- Producing and sending landlord statements
- Manage property expenses & invoices
- In-arrears chasing
- Monthly KPI reporting
- Revenue assurance
- Coordinating day-to-day maintenance
- Keeping up to date with ongoing compliances – GSC, EICR, EPC
- Arranging periodic inspections – carried out by 3rd party
- Working on tenancy contracts renewals
- Working on the end-of-tenancy contracts
- General query handling
- Legal notices
- Deposit returns
- Negotiate dilapidations
- Right to Rent Checks