Residently

About Residently

Residently is a property technology firm based in London that provides a rental operating system designed to modernize the leasing process for property managers, owners, and residents. Founded in 2017 by CEO Tom Allason and CTO Sam Phillips, the company aims to address the friction and inefficiencies within the rental market. Allason, a serial entrepreneur with a background in logistics and technology, was inspired by his own challenging rental experiences after founding and selling two previous companies, eCourier and Shutl, to Royal Mail and eBay respectively. Phillips, a self-taught coder with extensive experience in startups and at eBay, shared the vision of simplifying the rental journey. The two had previously worked together at Shutl.

The company operates on a SaaS model, providing a purpose-built platform for institutional portfolios to enhance operational efficiency and increase net operating income (NOI). This system automates and streamlines workflows by integrating marketing, tenant applications, referencing, contracts, payments, maintenance, and renewals into a single, structured platform. For property managers and institutional owners, this translates to significant time savings, estimated at seven hours per lease, and reduced operational costs. The platform also offers data analytics to provide operational and marketing metrics, helping owners make informed decisions to drive higher yields.

For residents, Residently offers a mobile application that digitizes the entire rental journey. Through the app, renters can arrange viewings, take virtual tours, submit offers, pay deposits, set up utilities, access documents, request maintenance, and manage their lease. The platform also includes a marketplace for additional services such as Wi-Fi, furniture rental, and cleaning. This focus on a seamless user experience is designed to cater to the digitally native generation of renters and build a trusted brand in a market traditionally lacking brand loyalty. The company has secured significant funding to support its growth, including a £7 million seed round in 2019 and a £4.5 million round in 2022 led by Love Ventures, with participation from investors like Felix Capital, LocalGlobe, and A/O PropTech.