Ascend Properties continues to expand its reach into the Build to Rent sector after securing significant investment from Gatehouse Bank last year.
The Manchester-based firm is now managing an additional Build To Rent fund after the successful migration of the entire portfolio. The significant task has seen almost 1,000 properties migrated in just four months with no disruption to service.
The portfolio is made up predominantly of houses, located across Manchester and Liverpool.
With the project involving migrating the data for all tenants onto Ascend’s platform in preparation for the new asset manager teams, all renters were contacted to minimise disruption and the agency has even driven increased returns for the fund owners on both new tenancies and renewals.
Ascend expects to increase the number of properties it manages to almost 10,000 in the next two years.
It was established in 2014 with the belief that letting agents could do "a lot more to support both landlords and clients".
Ged McPartlin, Ascend’s Managing Director, said: “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. With all the well published difficulties facing the sector, it is exciting for us to be expanding so rapidly.
“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.”