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Towerstile Ltd Case Study: "We’ve experienced improvements in all aspects of the business"

Re-Leased 06 March 2019

Mark Puckering from Towerstile Ltd shares how Re-Leased has revolutionised the way their portfolio is managed, the clear-cut benefits of integrating Re-Leased with Xero, and how Re-Leased has shown the business the power of the cloud.

What challenges or needs did you face that led you to look for a solution like Re-Leased?

We needed a modern software system to replace our spreadsheet-based system. We used another server-based system which we had no success with across a number of areas within the business. Accounting processes, rent statements and other general workflows were difficult and clunky to manage. We also had the extra burden of using spreadsheets alongside the software.

How did you discover Re-Leased?

Accountants were recommending Xero as the system to move forward with and Re-Leased was advised to be the best system to use in conjunction with Xero, which was a big factor in deciding to move forward with Re-Leased. Since implementing this, the business has noticed an incredible change from a checking and efficiency perspective.

What made you decide that Re-Leased was right for your business? What differentiated Re-Leased from other solutions?

The fact that it integrates with the accounting software we use (Xero) was critical in our decision. One of my former colleagues did his research and found the Re-Leased was best fit for Xero and offered a comprehensive product that the business was looking for and found Re-Leased.

What benefits have you experienced since Re-Leased has been up and running?

Improved reporting on items such as rent reviews, maintenance and inspections. And across the board, the two systems (Re-Leased and Xero) have changed the way business is done within Towerstile and has improved quality and processes in all aspects of the business.

What specific results have you seen from implementing Re-Leased? Do you have any ballpark stats about saving administration time, etc.?

More accurate reporting on tenants with rent arrears. I simply feel that the quality of reports, time producing accurate statements and processes for both property and accounts teams have increased due to simplicity and seamlessness of Re-Leased and Xero.

How does Re-Leased reduce risk in your property portfolio?

We have been able to reduce the likelihood of important inspections being missed, i.e. gas. The implications of missing key inspection events is huge for the business, and has very serious repercussions if they are missed from a cost perspective. Re-Leased has a great reminder and diary functionality, and it allows members of the team to be across all critical information at all times. The business now entrusts Re-Leased to make certain that these critical events are not missed.

How has the integration with Xero impacted your business?

We now have up to date tenant balances readily available, and the preparation of accounts has been simplified. We’ve experienced improvements in all aspects of the business.

Has the use of Re-Leased impacted your relationship with your tenants?

We can now provide better quality rent statements. Generally speaking, the tenants feel we are providing a more professional service since Re-Leased has been implemented, and feel the information they are provided is clear, concise and easy to follow compared to the previous system being very hard to understand.

How did you find the implementation process?

We went through the process before with our old legacy system and it was painful as they were met with issue after issue. With Re-Leased, the process was much easier in comparison. Obviously we were met with some roadblocks, however the team always managed to resolve any issues we had to make sure we were up and running, and using the system effectively.

The world is changing with digital innovation. How are you using technology to shape your portfolio into the future?

By using software such as Re-Leased and Xero. Since moving to these two cloud-based platforms our business is moving other aspects of the business to cloud solutions as we now see the benefits of what has been provided by Re-Leased.


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