Check out some examples of clients who've entrusted their portfolios to us and experienced significant increases. These improvements have stemmed from a variety of factors, including rental adjustments, finance optimisations, and better management and maintenance practices.
We recently purchased a competitor who managed 220 properties, within 4 months of ownership we had increased the revenue for all landlords by an average of 17.3%.
This was primarily done by analysing the entire portfolio against market rents. What we found was that the majority of properties that had tenants in for over 12 months had had a minimal rental increase of approx £20 per month.
This is generally done due to various reasons from the managing agent or landlord, firstly its relatively easy to call a tenant and say the rent is increasing by such a small margin and takes a couple of minutes or perhaps a copy and paste email.
This is very similar to example 1 however this company managed 195 properties and we increased there average rents by 33.2%, most of the tenants had been in situ for a long time and rents had not moved for years and the majority had outstanding maintenance issue with landlords not able to afford the works or the tenants not reporting the issues due to fear or rent being increased having to move out to a property of similar size for significantly more rent, this is not good for the landlord, the tenant, the investment or the managing agent. Let me explain why...
We had a landlord that purchased a block of flats from an existing landlord of ours and the sale came with a 5 year management contract that meant the buyer needed to use us for the remaining term of that contract (3.7 years to run) or buy out the contract and move to a new agent.
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