Increased income by £36,000 per annum
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. After meeting with the client we agreed that if he wasn't 100% happy with the service and we didn't perform better that his existing agent that he was using for the rest of his portfolio we would shake hands and end the contract free of charge... fast forward 18 months and the buyer has purchased a further 24 properties (all off market) and moved his other 11 properties to RedDoor Homes.
When we analysed his 11 properties he was under market rent by £36k per annum or £273 per property per month. This is not just to sing our praises but to raise the awareness that small independent agents and large corporate agents don't have the focus to do what we do and in 30 years of property investment and property management agent I have never come across another company that does what we do. We do this through passion and dedication to ensure that our financial growth matches yours, don't forget we receive a percentage of the rental income you receive so are highly motivated. However we also sell lots of investments off markets to existing clients so we need to ensure that your investments are some of the best in the market to ensure that we look after you on an exit sale but also to ensure that the new owners purchase good, profitable investments.
If investments don't make money they get sold or repossessed, this restricts supply in the market and forces rents higher, this may be good short term for landlords but not sustainable for tenants. We look at the bigger picture and long term goals.