Agents sign up to niche property management service

A lettings service called Smarter Rent is partnering with agents and developers to provide what it calls ”“an innovative property rental agency with a difference” which lets high quality properties on behalf of landlords.

The identities of the agencies and developers remain confidential during a pilot period, but Smarter Rent says it offers the kind of amenities associated with some Build To Rent schemes - for example, a concierge and housekeeping services - but in existing privately owned properties which the company retrofits to a high standard.

“We are partnering with developers and brokers who are selling properties. By offering our service to potential investors they are able to offer a higher yield. Because the interest rates are so much higher, they are struggling to sell to investors, so our service makes the numbers stack up” explains a spokesperson.

The agency says it is “offering beautiful homes on flexible terms and security from one week up to three years … ensuring high returns and occupancy rates for owners.” It says it takes on “only the best properties in the best locations before fitting them out with occupants in mind, and providing an outstanding service for the duration of their stay.”

It says it will source and refurbishing properties, market them and provide a 24/7 365-days-a-year concierge service and it takes a swipe at rival firms by saying: “Unlike traditional agents, Smarter Rent takes care of everything.”

It says its investment model uses decades of data to work out how best to optimise a buy to let to maximise rental income, with the company “taking on all the property management stress so the investor can earn a truly passive income.”

And its website states: “We started Smarter Rent to better advise investors on property purchases. We quickly realised that a reliable investment needs to start with renters: understanding deeply what matters to them and creating homes and a service that actually caters to their needs. By taking this approach, we're able to fix an industry where renters are often seen as a commodity and investors accept low yields.”