Build to rent specialists – Ascend Properties – reveal their numbers by analysing the return that their clients are seeing from the company’s endeavours over the last six months. They did this by assessing the total annual rents of properties at the start of the year versus the rents achieved on re-lets that they themselves have initiated and oversaw.
Ascend Properties manage approximately 6,500 Build to Rent homes across a number of funds. The company has revealed that the average improvement in yield is 7.44% based on the re-lets undertaken since the start of the year. Across one in particular fund, the uplift is 10.39%.
Ascend has overseen a total of 524 re-lets – and in the last six months has gained clients an additional circa £300k pa in pure bottom-line rental income.
“We are putting our money where our mouth is here and demonstrating that engaging Ascend Properties as the management platform to take care of your Build to Rent portfolio literally makes you money. It’s unequivocal and is something that we are very proud of indeed.
“Our focus on introducing quality tenants to well maintained and managed properties, whilst really understanding the local rental market, ensures fantastic returns that are surely some of the best in the sector.”Ged McPartlin, Managing Director, Ascend Properties
Against an uncertain economic backdrop and the most challenging of times, Ascend’s uplift in rental income is up to eight times the national average increase in rents.
|Fund 1||Fund 2||Fund 3||Overall|
|Current Rent Amount||£261,205.00||£62,745.00||£107,486.00||£431,436.00|
|Past Rent amount||£246,235.00||£57,940.00||£97,370.00||£401,545.00|
|Number of re-lets done||319||79||126||524|
Ascend performance at eight times the national average based on the 1.2% increase to May 2021 registered by the Office for National Statistics and divided into the 10.39% achieved by Ascend (Fund 3).