A new agency – which describes itself as a “disruptor company” – says it will charge an all-in lettings and management fee of 6%.

The agency is called Cohab and it set up by Roger Southam, a major figure in the block management sector and the former owner of residential property management firm Chainbow. 

He says of his new venture: “This is just what the residential lettings market needs. For far too long residential landlords have had to put up with exorbitant lettings fees from property agents that can be as high as 20% once tenant finding, management, contract preparation and referencing fees are taken into account.”

He claims Cohab has developed a new technology platform that delivers operational efficiencies and drives down costs. And he describes the operation as an “excellent and innovative software platform together with US-style efficient property show-round techniques that drive efficiencies and allow us to disrupt the market with our 6% all-in fee.”   

Cohab has an ambitious expansion programme, stating that it will have over 100 properties on its books within the next two months with a target of 1,000 units in its first year and 30,000 in the next two to three years.

“Initially we are doing deals with landlords on single units and blocks of flats but our goal is to target the major Build-to-Rent landlords over the next couple of years … with the change to a Labour Government one wonders what further costs the new administration is likely to load onto landlords in the coming years; therefore any benefit that landlords can obtain is vital.  Cohab is here to deliver a first-class service, offering great value.”

Southam established Chainbow in 1989 specialising in commercial property asset management and residential block management before selling the company to Savills in 2016 where he was a director until 2018. He is a Freeman of the City of London and a Liveryman and was subsequently Master of the Worshipful Company of Chartered Surveyors. He has also sat on various RICS and Government advisory groups.

You can see the agency’s website here.