Beyond Rent: Why Currency Strategy is the Next Frontier for Letting Agents & BTR Providers
At The Depositary, we are laser-focused on making the end-of-tenancy process easier, faster, and better for agents and tenants alike. But great tech alone doesn’t future-proof a lettings business. Today, we explore an often-overlooked lever of added value and operational advantage: currency exchange strategy.
We recently welcomed Steve Eakins of Lumon onto our podcast, and what followed was a conversation that quite literally changed the way we think about value creation in the rental sector. While foreign exchange (FX) might feel more "sales side" than lettings, the reality is that it could be one of the smartest, simplest ways to add real commercial and client value across residential lettings, Build to Rent (BTR), and Purpose-Built Student Accommodation (PBSA).
The Global Money Movement You Might Be Missing
The data is eye-opening. According to Lumon, over 30,000 completions last year involved UK vendors relocating overseas. That’s around 100 a day. On top of that, some 300 millionaires a week are expected to leave the UK in 2025. This isn’t media hype. It’s a shift in wealth, and more importantly, it’s a shift in how, where, and why money is moving around our industry.
Letting agents often assume FX services are for sales. But a huge swathe of the landlord landscape- particularly in PBSA and BTR portfolios- involves international owners or offshore structures. If those landlords are repatriating rent, capital, or deposits, they are exposed to currency fluctuation risks. And yet, how many operators are offering a proactive FX solution?
Why This Matters Now
In a market where margins are tight and customer expectations are rising, strategic differentiation is no longer a nice-to-have. Letting agents and operators are constantly looking for new ways to:
Improve retention and loyalty
Reduce pipeline risk
Increase revenue and reduce leakage
Add tangible, measurable value
Currency exchange strategy can deliver on all four. Whether it’s helping an international landlord increase their returns by timing repatriations, or helping a vendor take a lower offer that nets them more in dollars or euros, the value is clear - and so often overlooked.
Rethinking the FX Opportunity
Steve shared a story where a BTR buyer from the U.S. saved $180,000 on their UK acquisition simply by locking in their exchange rate at the right time. That kind of outcome isn’t rare- it’s simply under-leveraged. For agents targeting Non-Resident Landlords (NRLs) and foreign investors, positioning themselves as FX-aware can be a powerful differentiator. It adds strategic value in a highly competitive marketplace and enhances client trust.
Equally, PBSA and BTR providers managing tenants who pay rent upfront- often 6 to 12 months in advance- could be delivering better service by introducing trusted FX partners like Lumon. Ensuring tenants receive the best possible exchange rate not only strengthens tenant satisfaction but may also boost conversion and retention.
Raising the Industry Standard
This isn’t about bolting on a revenue stream. It’s about positioning your business as an informed, agile operator who understands the full lifecycle of money in a property transaction- from deposit to disbursement. For NRLs and international investors, that’s the kind of service that wins business.
FX should be seen as part of the strategic toolbox for modern letting agents, BTR brands, and PBSA operators. It’s a way to show clients- and tenants- that you’re thinking bigger.
A Call to Action
So, to those in leadership at lettings agencies, BTR schemes, and PBSA portfolios: ask yourself- are you doing everything you can to help your landlords and tenants make the most of their money?
In an increasingly global property market, FX is not a fringe consideration. It’s a core component of modern property operations. Whether you're safeguarding a portfolio’s return, enhancing a tenant's experience, or helping a landlord keep more of their income, FX strategy deserves a seat at the table.
This isn’t about The Depositary expanding into FX- it’s about you expanding your thinking.
Let’s not just complete tenancies faster. Let’s make the whole experience smarter, sharper, and more strategic.
Let’s lead the market- not follow it.
