Case Study: Iconic Commercial Property and Re-Leased
Iconic Commercial Property: Streamlined Trust Accounting & Teamwork
Iconic Commercial Property is a boutique commercial real estate agency operating across Western Australia, managing a growing portfolio spanning metropolitan Perth and select regional assets.
For over 12 years, the dedicated professionals at Iconic have provided market knowledge and expert advice you can count on. Delivering great outcomes in sales, leasing, and management. With a close-knit team of property managers and accounting specialists, they value efficiency, reliability, and the ability to support clients from anywhere.
Tracy Thomson | Trust Accountant
We spoke with Tracy Thomson, who oversees trust accounting and back-office operations, to explore how Re-Leased has helped Iconic Commercial Property streamline processes, increase operational clarity, and enable a flexible, future-ready team.
The Challenge: Managing Commercial Assets with Residential Tools
Before Re-Leased, Iconic Commercial Property relied on a system primarily designed for residential property management. Tracy and her colleagues made it work, supplementing with spreadsheets for reconciliations and tenant splits, but the limitations were clear:
- Lack of commercial focus: The system did not fully cater to the unique needs of commercial property, leaving gaps in reporting and day-to-day management.
- Manual workarounds: Spreadsheets were used for reconciliations and apportionments, introducing risk and inefficiency.
- Small team, broad responsibilities: With only a few people managing accounts and property management, time spent on manual processes detracted from higher-value activities.
“It really wasn’t designed for commercial. We made it work, but it wasn’t a perfect fit. We had to use spreadsheets for things like reconciliations and splitting costs between tenants.”
The Solution: Moving to a Platform Purpose-Built for Commercial Property
Recognising the need for a system purpose-built for commercial property management, Iconic’s leadership chose Re-Leased. Tracy was tasked with implementing the system, a significant transition, but one supported by strong onboarding and hands-on guidance from the Re-Leased team.
- Seamless onboarding
Tracy described the onboarding process as well-supported and collaborative. “The onboarding team were fantastic. Anything I needed, they were there. It made a big difference.” - Cloud-based accessibility
The move to cloud-based Re-Leased enabled remote work and seamless collaboration within the team, regardless of location. - Commercial-focused functionality
Re-Leased offers features specifically designed for the nuances of commercial property management, eliminating the need for workarounds.
“Once all the information was in, it just flowed. Now, you come in and start your day, and everything’s there.”
Streamlined Workflows, Greater Confidence, and Real Flexibility
As Iconic Commercial Property runs on Trust Accounting, it was important their platform handled owner and tenant funds to the letter without adding complexity.
Re-Leased’s certified-compliant Trust Accounting gives them that foundation, with best-practice processes designed specifically for property management agencies. Every dollar is tracked and reported to maintain a clean digital paper trail, so audits and owner reviews are straightforward.
“It gives us confidence. If someone updates the system, we all see it straight away. There’s never any doubt you know you’re looking at the real numbers.”
Day to day, the team benefits from one-click bank reconciliation with automatic transaction matching, flexible invoicing that can be scheduled and on-charged to tenants, and guided budget reconciliation at period end. They can also deliver polished owner statements and self-service access, keeping stakeholders informed while the team works from anywhere.
- Time Savings
Trust Accounting, reconciliations, and reporting are now streamlined and require fewer manual steps. “Day-to-day, it all just flows. You go from one task to the next there’s no heavy lifting.” - Single Source of Truth
The entire team, whether office-based or remote, accesses the same up-to-date information, reducing errors and eliminating version conflicts. - Audit-Ready Compliance
Audits have become low-stress and transparent. “We’ve had no issues being audited. Auditors can log in, find what they need, and see the reports. It’s all there.” - Reporting Flexibility
Custom reports, including tenancy schedules, can be designed to meet the needs of different team members and clients. “Now we can design our own reports, download what we need, and get on with our day.”
Custom Reporting and Cloud Collaboration
Re-Leased’s reporting tools have grown more robust over time. Tracy highlights the ability to tailor reports for specific needs, such as tenancy schedules or accounting extracts, as a major improvement:
“The new ways to design your own report are really good. You get what you need, no more searching for answers or patching together spreadsheets.”
As Re-Leased is cloud-based, everyone works from a single, up-to-date source of truth, whether they’re in the office, at home, or on the road. Real-time updates make remote work and decision-making straightforward. “With me working remotely, and others in the office or at home, we all access the same system. It doesn’t matter where you are everyone gets the same information.”
Enabling Flexibility and Reducing Stress
“I’ve never gone to work and dreaded logging in. It’s just a good package that helps us do our jobs.”
For Tracy, that confidence extends to the whole Iconic team: remote work stays on track, trust reconciliations happen on time, and anyone can cover when needed without scrambling for information. The result is a calmer, more resilient operation and a better day at work.
Iconic Commercial Property continues to benefit from Re-Leased’s regular updates and enhancements. Tracy is currently working with the Re-Leased team to address specific requests reflecting a collaborative approach to ongoing optimisation.
“Some updates come in, and I wonder if we’ll use them, but I know others will. The system’s always improving.”
The team sees Re-Leased as a foundation for future expansion, confident that their platform will grow with them.
“It’s not a hard program to pick up, that’s a good thing. The accounting side flows, the results are what you want, and we’ve had no audit issues. I’ve recommended it to others and would again.”
