Developer creates lettings agency for its own schemes

Development company Select Property has launched Select Residential, one of the first in-house lettings businesses of its kind by a build-to-sell specialist.

Select Residential says it “aims to create seamless and transparent rental management” and services will be provided by a team experienced in designing, developing and operating the residences they represent. 

The firm says Select Residential will find and vet tenants, complete contracts and hand over keys, handle rent collection, resident move-ins or move-outs, and support tenants’ queries and maintenance needs. 

The business’ in-house brokerage will also manage investors exit strategies at the time of sale.

It says this provides investors with “a fully rounded end to end experience without the additional layer of administration that comes with finding, appointing and managing a third party lettings agent.”

A spokesperson says: “Owning the full piece, from initial consultations to exit strategies, instils trust while removing the stresses of our investors needing to be hands-on landlords.

“Select Residential is the final piece of the jigsaw for us, creating a genuinely unique end-to-end approach for investing in build-to-sell. It gives investors the simplicity of one point of contact, and the added reassurance that the professionals responsible for their investment always have an intimate understanding of their property; have no competing interests; and are committed to attracting the best tenants while maximising returns.”

After a phased rollout, Select Residential will manage thousands of the firm’s apartments across developments in Manchester and Birmingham. It currently has a 96% occupancy rate across its premium Affinity Living residences. Select Property is also building a new flagship Manchester residence One Port Street: the development has become 90% sold to investors in the space of a year.

The spokesperson continues: “What sets us apart as a lettings service is how closely we work with residence managers on the ground. For example, our teams will be ready to welcome new tenants on their moving day, knowing their requirements in advance and primed to provide any assistance they may need. 

“It’s that deeper, personal service that makes our residents immediately feel at home - making them want to stay with us for the long-term. That’s a bonus for residents and investors alike.”