Did you know that typically a building used for co-living is likely to produce a greater return on investment than a standard PRS development?
With years of experience managing many different types of property, Westbury is ideally placed to manage multi-unit let residential schemes along with their associated communal facilities including how to create a sense of community within a building whether large or small and all associated costs with running such an operation. We currently advise clients on these types of operations working with investors, developers, and a Local Authority on how to set up all aspects of a building, associated costs as well as looking accurately rents occupancy figures and overall returns.
If you’re interested in our PRS management service, here’s further information about how we can help you.
A high-profit property business starts with acquiring the best land and buildings; those that not only offer opportunities for development, but are situated in areas that are desirable, or a future property hotspot.
Firstly, we sit down with our clients and identify the right sort of site for their specific needs; both in financial and practical terms. Then, we work work alongside local agents to find the most appropriate sites. Our industry connections mean that we’re in a perfect position to negotiate ultra-competitive prices, which in turn, boosts the return on investment.
BTR advisory services
Buying a property to rent it out requires specialist knowledge and skills. Our team are experts in the field, and can offer support, guidance and advice throughout the process. This usually starts with the development of a solid strategy, which directs our approach in terms of acquisition, management and asset maximization.
Block and facilities set-up and management
Establishing a block (i.e. a number of residential units) can be incredibly profitable, both in terms of rental income and capital growth over time. However, it’s more complex than investing in a single residential house. Our PRS services include the set-up and ongoing management of blocks and facilities; with a view to increasing rental streams where possible, and attracting the highest quality of tenant.
Strategic letting advice
When working with clients, we don’t just develop a strategy for the site / buildings; we also create a comprehensive letting plan. This seeks to limit vacant periods where properties are empty, while maximising rental income.
Our team also have expertise with sourcing and vetting tenants, and can advise on any issues regarding the letting process; from attracting suitable renters, to managing finances (e.g. rental collections) effectively.