I’m thrilled to share some exciting news about the future of The Depositary. As one of the co-founders, and a letting agent myself, I’ve always been committed to creating a platform that truly understands and meets the needs of our industry. Today, I’m proud to announce the next phase in our journey: a major investment in new features, enhanced functionality, and significant partner integrations, alongside an updated pricing model that reflects the incredible value we’re delivering to letting agents across the UK.

Transforming Tenancy Conclusions

The Depositary helps Letting Agents and large-scale Landlords systemise and automate much of the tenancy conclusion process. From helping tenants prepare the property for handback, through booking checkouts & organising cleans, reviewing inventories & checkout reports, negotiating dilapidations, gathering reconciliation & refund details and, finally (and if so needed),  generating and submitting dispute files. To date, we have helped agents conclude over 47,000 tenancies removing over 90,000 hours (the work done by 50 full-time staff in a year) of thankless admin tasks whilst helping reconcile deposits, to the benefit of tenants & landlords alike, in approximately half the time. Our 13 partner integrations deliver a seamless process with reduced data entry whilst our 7 unique reports give detailed and granular insights across the entire managed process. We currently work with agents across England & Wales varying from single-branch entities managing less than 100 tenancies to large-scale operations managing over 50,000 tenancies.

Built by Letting Agents, For Letting Agents

Since we launched The Depositary in 2020, our mission has been clear: to provide letting agents with a tool that is transparent, fair, and genuinely valuable. We’ve always kept our pricing straightforward—no set-up or onboarding fees, no hidden costs, and free user training for life. We’ve also made sure there are no tiered packages, no caps on user numbers or branches, and even offered custom sub-domains at no extra charge.

A New Chapter of Innovation and Value

Over the past 4.5 years, we’ve invested over £500,000 into developing The Depositary, with just two modest price increases since our initial launch rate of £50+VAT per license. Now, we’re making another substantial six-figure investment to bring you a host of exciting new features. These include advanced partner integrations and our long-awaited foray into AI—developments that will reduce manual tasks, improve efficiencies, and enhance both the agent and customer experience. In the coming weeks and months, we will be able to reveal more information about our exciting new partners (some of the biggest names in the letting agent marketplace) as well as our array of new features and functionality.

A Pricing Update Reflecting Our Commitment to Quality

With these significant enhancements, we’ve had to make the difficult decision to review our pricing. For new clients joining us on this journey, the license rate will now be £200+VAT. 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.

“This pricing update isn’t just about covering costs—it’s about matching the value we deliver to the agents we serve,” said Kristjan Byfield, Co-Founder of The Depositary. “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.”

Looking Ahead: A Bright Future for Letting Agents

This is just the beginning of what’s next for The Depositary. We’re committed to continuing our work to automate more processes, reduce manual data entry, and deliver even greater efficiencies. Our goal is to improve your team’s job satisfaction while providing an ever-better experience for your tenants and landlords.

To find out how The Depositary can help your estate agency business click here.