LegalforLandlords acquires PropTech platform Propoly

Forward-thinking services provider LegalforLandlords has made a significant move into PropTech with its recent acquisition of the Propoly platform. Propoly, was founded by Ray Kyrson and Edward Gazelle and previously went through the Pi-Labs scale up programme and has investment from leading high street agents. The company plans to enhance the existing Propoly offering, making a platform that’s already best-in-class and outperforming its competition in pre-tenancy task work even more attractive to lettings industry professionals. Adding in LegalforLandlords services appears the next natural step but the plans are for vendor-neutral software with all pre-tenancy tasks included – a complete start-to-finish solution.

LegalforLandlords founder and MD Sim Sekhon believes that PropTech is crucial in an industry that’s increasingly regulated and dogged by administrative complexity. Talking about the acquisition, he said, “We need to automate processes to save time and money, but we also need to recognise that agencies need to grow and develop new income streams. Propoly meets these needs now and will do so even more in the future. Ray Kyrson, Propoly’s co-founder is excited to be part of our plans for its future.”

Ray Kyrson and Edward Gazelle Co-founders of Propoly, jointly commented:

“We are very pleased to have agreed a deal that will further Propoly as a core supplier to the industry. LegalforLandlords, through their years of experience, deep knowledge of the sector and key products and services, are a leading business that will allow us to offer an even better service to our customers”

LegalforLandlords already has a growing agent client base. More than 500 agents rely on the supplier’s tenant referencing, insurance and legal service provision daily and with a superb PropTech platform now under the same leadership, the company aims to double its agent network over the next 12 to 24 months.

Sekhon is respectful of other providers in the market but is convinced that Propoly’s benefits will outweigh those offered by competitors. Having already proved with LegalforLandlords that a diverse customer base and multiple income channels can be successfully managed, he sees no reason to place restrictions on Propoly’s potential. “Some would look at the market and its challenges and despair,” he said. “We, however, look for opportunities. Propoly has already had several millions invested into it by well-known high street agents. It is ready to integrate with CRM systems, has a great user interface and can be white labelled. It is, simply, what agents need.”

For more information about the acquisition, Propoly or LegalforLandlords, please visit www.propoly.com or book a demo here.

About Propoly

By using Propoly, agents can expect the following benefits:

  • A dedicated white-label platform with logo and brand colours.
  • A fully integrated digital solution helping tenants move in quicker.
  • Automatic updates throughout every step of the process.
  • Extra revenue generation through the click of a button with established partners.
  • Instantly generated fully pre-populated Tenancy documents, such ASTs, Offer Letters, Guarantor Letters, Prescribed Information Certificates etc.
  • More transparency with an activity tracker.
  • Compliance checks, through automating tasks (How to rent guide, Prescribed Information, responsibilities prior to taking a Holding deposit etc).
  • Track payments made by tenants including holding deposit, first month’s rent and security deposits.
  • Instant referencing with open banking, which helps reduce referencing costs.
  • Deals in real time.
  • Accessible on mobile, computer and tablet.
  • Account management from day one.

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