PropTech service Propoly says it’s handled £50m of rental transactions so far this year.

Propoly – launched in 2020 and boasting early backers including Foxtons, and Connells/Countrywide – allows the management of rental portfolios, automating and digitising the entire property rental process including check-in.

In recent months it signed contracts with more than half of the 300-plus newly created LSL franchised branches.

In a bullish statement this week marking the milestone the supplier says: “The bulk of that £50m was processed through the system outside of normal office hours.

“When we hear agents complaining about the burden of admin, compliance and the time taken to progress a tenancy, we hope that they’re just getting frustrations off their chest. 

“If they really are passive, plodding on, and ignoring the evident truth that digital technologies offer the solution, that’s a problem. Today, being tech savvy is a key part of a successful agent’s skillset and delaying adoption simply holds an agency back.”

It says that in 2024 it anticipates some £100m being processed through its system.