corporate lettings - case studies
case study 1
Client - Administrator appointed by a number of banks.
Brief - Secure a portfolio of over 1,000 residential and commercial units located across the UK and execute an appropriate exit strategy.
This client was secured by virtue of our previous experience of successfully taking on a large portfolio, demonstration of our compliance and audit processes, our national network of local agents and centralised support centre functions.
Due to the lack of information available to the administrators, our first action was to visit every property in the portfolio, conduct a comprehensive market rental appraisal and identify vacant and occupied stock.
During this process, a communication plan was deployed to all tenants to keep them up to date with events and obtain rental payments as soon as possible. As soon as we became aware of vacant units, our branch network was instructed to market the stock and attract suitable tenants.
Final aspect of phase one was to provide the administrator with a detailed schedule of works and costs for each unit in the portfolio.
Based on the initial assessment of the portfolio it is likely that the units will continue to be managed and let for the foreseeable future to enhance their asset value over time.
case study 2
Client - National organisation with large portfolio of residential units above retail premises.
Brief - Improve the financial performance of the portfolio and reduce annual running costs.
Key factors in securing this client were our network of regional customer service centres, our fee structure and ability to offer a bespoke management package.
First action was to appoint a dedicated account manager who visited each site and acted as the first point of contact for the client.
Having reviewed the portfolio, a bespoke management package was rolled out including regular reviews of rental values, monthly reports, day-to-day maintenance and repairs, inspections, disposals, refurbishments and debt recovery.
Now, 97% of available units are occupied. The remainder are either being refurbished or marketed for sale. We carry out an empty care service on any vacant properties to comply with insurance covenants and protect our client's investment.
With increased rental yields, reduced maintenance and repair costs and refurbished units achieving higher rental values, we have far exceeded our client's initial expectations and objectives.