Industry supplier acquires 50% stake in new lettings platform Pink Chilli

Lettings supplier Blinc UK has acquired a stake in Pink Chilli Software, a platform which allows agents to complete the whole move-in process anytime, anywhere from any device, allowing lettings teams to work together on all aspects of the tenancy set up.

Unlike some other ‘pre-tenancy’ software, Pink Chilli is not a ‘one-size-fits-all’ platform users have to adapt to. It allows agencies to streamline all their tenancies from holding deposit stage to move-in in any way they want and works for both individuals and large teams.

The software represents the perfect solution for letting agents adapting to more remote and flexible working patterns post-Covid-19.

“We have partnered with Pink Chilli to bring together our experience as a leading supplier run by former agents with cutting-edge software development,” says Darren Bignall, Director of Blinc UK.

“Following three years of development, we are now able to bring software to market which works in a way a letting agent thinks, allowing them to carry out processes in any order unlike other software platforms which don’t allow them to.”

Speeding up the pre-tenancy process

The new software solution is not placed ‘on rails’ and therefore allows agents to carry out the pre-tenancy process in a way that suits their working practices.

It includes e-signing for all documents, draft and final tenancy agreements, compliance documents and prescribed information.

The software can be used to send landlord updates and manage payment requests with access to fully integrated referencing, rent guarantee, AML checks and deposit replacement. Agents can also use their own tenancy agreements and addendum terms and conditions.

“Providing software which is not ‘on rails’ means agents can continue to work in the way that suits them while benefiting from fully integrated services which are not plugged in from other suppliers,” explains Bignall.

“A fast and efficient pre-tenancy service is crucial at a time when tenant demand has reached record highs this summer following the easing of lockdown restrictions.”

“Completing tenancies quickly reduces the chances of renters looking elsewhere and ultimately keeps landlords happy and void periods to a minimum,” he says.

Joining up the dots for tenants and landlords

Pink Chilli also has a tenant dashboard, which allows renters and guarantors to see what tasks are outstanding for themselves and other tenants.

They can view and e-sign draft and completed documents via the portal, sending instant updates to agents once tasks are completed to help keep things moving.

Consumers can also gain ongoing easy access to all tenancy documents via the dashboard’s cloud storage, as well as make payments instantly online.

“It’s important for prospective tenants to know where they stand and providing them with a dashboard gives them increased ownership and encourages them to be more proactive,” Bignall explains.

“If both sides of the transaction are aware of its status and agents are notified as soon as a tenant or guarantor completes an action, the move-in process can be significantly quicker.”

“What’s more, the dashboard means that tenants will no longer need to chase agents for progress updates as they will be able to see which stage the transaction is at. This reduces stress and provides peace of mind for all parties,” he says.

Evolving working patterns accelerated by lockdown

The way agents work has slowly been changing in recent years but according to Blinc UK, the Covid-19 pandemic has accelerated this change, ushering in more flexible and remote working practices.

“We have been working on this software for over three years, but the impact of the pandemic has brought the need for this kind of pre-tenancy solution sharply into focus,” says Bingall.

“During lockdown, we heard from letting agencies which only had one person managing new tenancies as they were the only person with access to the relevant files. This is inefficient and unnecessarily slows down the process.”

“As more agents work to different hours from various locations, the Pink Chilli platform aims to make the pre-tenancy process more streamlined and accessible with unlimited users per branch and solutions for multi-branch users,” he adds.

“As the rental market shows no signs of slowing down and working practices continue to evolve, agents need to get ahead of the game and adopt the best in class software which allows them to provide a quick, efficient and compliant pre-tenancy service.”

You can find out more about the new software and request a demo here.