Paramount Properties

The Challenge

For Spencer Lawrence and the team at Paramount Properties, supporting property owners often brings questions that fall outside the expertise of a letting agent. Around 50% of Paramount’s clients are based overseas, while individual owners will have different income, tax positions and personal circumstances that can affect the decisions they make about their properties.

Spencer is conscious that his team are not accountants. Their role is to understand the property options available and recognise when an owner could benefit from specialist advice, rather than attempting to answer detailed tax questions themselves. That makes having the right professional relationships particularly important.

Any recommendation also carries Paramount’s name with it. Spencer needed an accountant he could trust to respond quickly, give appropriate advice, and look after clients to the same standard of service they have come to expect from Paramount.

The Solution

Spencer’s primary relationship at Warrener Stewart is with Director Ryan Lane, whom he has known for many years and who works with Paramount’s clients when specialist tax advice is required.

The relationship also helps Paramount’s team better support its property owners. Ryan has visited the office to share his knowledge, taken part in Q&A sessions with owners and provided updates that can be fed back to the team. This gives Paramount an experienced accountant to turn to when questions arise, without expecting its agents to provide advice outside their expertise.

One recent case involved an owner deciding how much work to carry out on a property before selling it. Paramount could explain the different refurbishment options and their effect on the property’s value, while Ryan helped establish the net position behind those options based on the owner’s wider circumstances. This allowed the owner to make a more informed decision about the best route for them.

Responsiveness is another important part of the relationship. When Spencer contacts Ryan with a question, Ryan will normally call that day or arrange a conversation for the next working day. Where appropriate, Ryan also keeps Spencer involved in correspondence so that both sides are working joined up towards what the client needs.

The Result

Working with Warrener Stewart gives Paramount access to financial expertise it does not have internally. Spencer and his team can concentrate on the property advice and their day-to-day work, while giving owners the opportunity to speak to a trusted accountant about the tax implications surrounding their decisions. For Spencer, that confidence has been built over many years, underpinned by Ryan’s openness and a relationship in which he knows exactly where he stands.

The relationship has also proved valuable to Spencer personally. During the sale of Paramount’s lettings division, Ryan acted for Spencer, as well as helping him personally, drawing on colleagues across Warrener Stewart when wider accounting matters required expertise beyond Ryan’s own specialism. This gave Spencer access to the right experience across the team and the confidence to move forward.

Together, that knowledge, responsiveness and wider support mean Spencer has someone he can call when he, his team or a client encounters an issue they cannot resolve themselves. For Paramount, it provides a trusted extension of the advice it already gives its property owners.

Client's View

“It takes years and years to build trust. But it takes a few minutes to destroy that. Ryan to date has done a brilliant job of maintaining that trust for us.”