PRESS RELEASE FROM VECO™ BY EUROLINK
NO CHANGE TO SUBSCRIPTION CHARGES IN 2019
Veco™ has announced they will not be applying the annual subscription fee increase to their support charges in 2019 for clients who have an existing and signed standard client agreement and terms in place.
The decision to waive the scheduled 5% annual increase was reached after discussions both internally and externally about the challenges the property industry as a whole are currently facing. With the loss of tenant fee income streams, referral fees coming under scrutiny and a changing market, Veco™ would like to show support by taking away the concern of software subscription costs rising.
If you have any questions or would like to discuss this further, please contact the Veco™ team at email@example.com or 0844 335 2545.
RICHARD MURRAY, CEO SAYS
‘Our clients have got enough challenges at the moment without us imposing an albeit nominal increase to their charges. We hope this will be seen as a show of support, and we encourage other suppliers to do the same thing this year. Our responsibility is to deliver products and services which will help mitigate the impact of the Tenant Fee ban, and I believe that our new suite of products will do that’
WHAT DOES THIS MEAN FOR ME?
‘No Annual Increase for period July 2019 – June 2020’
We have been keeping in close contact with our clients over the past 6-12 months specifically to understand what impact the Tenant Fee Ban will have in a ‘real world’ scenario. Its quite clear that this will not only effect specific revenue streams, but will impact the market place as a whole which will require considerable adjustment from all professional organisations within.
As you’re aware, within your Client Agreement and Terms we have a provision to increase subscription rate by 5% annually. We have made the decision not to add any increase for clients who have signed our standard Client Agreement and Terms from July 2019.
We wish to support you during this period and we hope that this gesture will contribute to alleviate some of this pressure.
Below you’ll find answers to some questions that may arise. If you have any additional comments please do not hesitate to contact your Business Development Manager:
· What period does this cover?
The increase was due to come into effect for the period July 2019 – June 2020 (inclusive). There will be no increase during this period.
· What about next year?
We are committed to working with you and will adapt to the market conditions the best we can. Although, operational costs are rising so at this time we are unsure as to what we’ll decide from July 2020 onwards. However, we’ll make you aware as soon as possible.
· How do I know if I’m on a ‘standard’ Client Agreement and Terms?
The majority of our client base trade as Residential Estate Agent, Letting Agent and Property Management companies. These companies are more than likely covered by our standard Client Agreement and Terms and therefore will benefit from this years rate freeze. If in doubt then please contact your Business Development Manager for confirmation.
· Will this affect my service/support?
We are committed to ensuring standards are maintained as well as improved now and in the future. We have taken the decision to freeze your subscription rate whilst taking into account our 19/20 budget and are delighted to inform you that we will continue to be able to invest and develop our products, services and people from July onwards.