An agency group in Berkshire says it has reduced tenancy deposit return times by some 80 per cent in just two months since signing up with a PropTech supplier, The Depositary.

Haslams says its deposit return times have been slashed with half of its property managers now returning deposits in 10 days or less – a figure it suggests is 50 per cent faster than a national average of 22 days.

“Landlord and tenant satisfaction is top priority for myself and the team here, we wanted to not only improve the process but also speed it up. Already we have seen a reduction in the delays by 80 per cent and look forward to maintaining that high level of standard” says Emily Taylor, the agency’s head of property management.

She says her group was attracted to the technology because it was built by a London lettings agency – base property specialists – with a proven track record in high customer satisfaction, and after gauging customer feedback. 

Taylor adds: “We have made a significant investment to our clients with the introduction of The Depositary. We are committed to taking as much strain from our landlords and tenants and this is an exciting collaboration that will see all parties resolving deposit returns in record time.”