brightLET | Connecting the dots for landlords
Managing properties can be time consuming. Imola Tuzson, business development director of brightLET, explains how they are trying to change that.
Name of product | brightLET
Price | The pricing for landlords was determined through focus groups, and market research showed that the average landlord property portfolio size in UK and London is 4-5 properties, so we didn’t want to follow the traditional method of charging per property. Our pricing for landlords is £50 per month to manage up to 5 properties with unlimited room lets. This saves the landlord an average of £800 per property in London and £350 per property outside of London.
The solution is completely free for tenants helping them save an average of £300 in application fees.
Target | Our target market is landlords that wish to self-manage with ease and increase productivity, and property managers who can offer landlords an alternative solution in managing their properties. As well as tenants who feel agent fees are too much, and tradesmen that want to access jobs on the move.
Challenge | Knowing that 90% of technology companies fail due to bad user interface and usability, this is has become at the forefront of our core mission – to provide an easy-to-use technology solution for non-tech-savvy users. To overcome this challenge, we have had continuous focus groups and meetings with landlords to make the journey smooth and seamless.
Solution | brightLET is designed by landlords, for landlords, and places a solution to most property needs in one cloud-based platform.
The platform saves landlords time and money by providing a single destination that connects the dots between listing a property, finding professional tenants, managing the property on a day-to-day basis, resolve property maintenance issues, and reporting on how profitable a buy-to-let portfolio is.
This includes a personal assistant in the form of brightPA which will send the user reminders to their phone without needing access to the internet. For example, if a tenant has reported an issue, the assistant will send a message to inform the landlord immediately as well as keep all parties up-to-date with any maintenance progress.
Results | The solution is being used nationally by over 500 landlords and property managers, almost 1,000 tenants and 400 tradesmen. We have won awards and recognition from Barclays, NatWest, KPMG, and recently we have been selected as one of UK’s top 20 high-growth expected technology companies to join by the University of Cambridge.
Clients | We recently had a partnership commercial signed with the YMCA, enabling our solution to enter the housing association and housing providers market. We are also in discussion with a large university who are looking to take this on as a student management solution.