Manchester-based agency Ascend has revealed it’s now taken over the management of a Build To Rent fund’s portfolio of almost 1,000 properties.
The portfolio is made up predominantly of two, three and four bedroom houses, located across Manchester and Liverpool, with the project involving migrating the data for all tenants onto Ascend’s platform.
All tenants were contacted, mostly in person, to minimise disruption; to undertake the task, Ascend recruited a number of additional staff.
It’s increased its head count by almost 40 per cent in the last 12 months with new hires particularly in the dedicated Build To Rent Asset Management department. In addition, the agency has also expanded its maintenance division, “to enable better cost control and performance management.”
It’s also recently opened a new branch in Leeds.
“We have received positive feedback from residents who have been impressed with our staff and processes, which is just as important as maximising the returns for the fund owners” says Ged McPartlin, Ascend’s managing director.
“Build To Rent is a sector we expect to be very focussed on in the coming years and feel we are perfectly placed to deliver exceptional results for investors.
“Most asset management businesses don’t have the branch presence we have in the key cities of London, Manchester, Liverpool, Salford and Leeds, so instead have to use third party sub agents to find tenants. This rarely delivers the same results as having the capability in-house, which we feel gives us a competitive advantage.
“We’ve been able to expand our team in several areas, whilst maintaining the same professionalism that has seen us named as the best letting agent in the north for the past three years.”