OnTheMarket plc OTM Software signs agreement with Arun Estates

TIDMOTMP

OnTheMarket plc

05 May 2023

REACH

ONTHEMARKET PLC

("OnTheMarket", the "Group" or the "Company")

OnTheMarket Software signs agreement with Arun Estates

OnTheMarket plc (AIM: OTMP), the majority agent-owned company which operates the onthemarket.com property portal, is pleased to announce that Arun Estates, one of the UK's largest estate agency groups, has signed an agreement for the use of OnTheMarket Software's TecLet platform across its entire lettings business.

TecLet, the automated pre-tenancy and property management platform, will enable Arun Estates, which operates from over 100 branches, to provide its landlords and tenants with a seamless approach to the tenancy and onboarding process, including renewals and changes of sharers.

The platform provides landlords, tenants and guarantors with a fully interactive portal, operating 24/7 whilst ensuring full legal compliance. TecLet's unique benefits include seamlessly integrating the various service providers chosen by Arun Estates to manage aspects of the lettings process, including E-document Signing (Finch), Open Banking Referencing (Let Alliance) and an alternate deposit option (Flatfair) to name a few.

Jason Tebb, Chief Executive Officer of OnTheMarket, comments:

"We launched OnTheMarket Software as part of our strategy of building a differentiated, technology-enabled property business and are delighted that Arun Estates has chosen our TecLet platform for its entire lettings business. We look forward to providing them with the significant benefits of TecLet in terms of improved efficiency and productivity along with higher levels of customer service and increased API revenue generation. We are now more than just a portal and the continued sign ups to our software solutions are testament to how we are providing added value for our agents."

Jason Bunning, Managing Director of Operations at Arun Estates comments:

"We have a passion for delivering great customer service and making the moving process as stress free as possible, and working with OnTheMarket and TecLet helps us on both fronts by complementing and enhancing our customers' digital journey."

Ends.

For further information, please contact:

OnTheMarket 0207 353 4200

Jason Tebb, Chief Executive Officer

Simon Bullock, Interim Chief Financial Officer

Teneo 0207 353 4200

Giles Kernick

Alec Tidbury

This is a Reach announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the Company's performance. Reach is an investor communication service aimed at assisting listed companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

Background on OnTheMarket :

OnTheMarket plc, the majority agent-owned company which operates the onthemarket.com property portal, is a leading UK residential property portal provider.

Its objective is to create value for shareholders and property advertiser customers by delivering an agent-backed, technology enabled portal - offering a first-class service to agents and new homes developers at sustainably fair prices and becoming the go-to portal for serious property-seekers.

OnTheMarket provides a unique opportunity for agents to participate in the equity value of their own portal. Agent backing and support enable OnTheMarket to display 'Only With Us' properties which are either exclusive properties advertised at onthemarket.com by customers who do not list their properties with either Rightmove or Zoopla, or properties listed 24 hours or more before agents release these properties to Rightmove or Zoopla.

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May 05, 2023 02:00 ET (06:00 GMT)