Established for over twenty-five years, Residential Estates is a multi-faceted property services group based in Chester. Originally starting as a letting agent before quickly expanding to include residential sales, this dynamic company has grown exponentially over the past two decades under the guidance of CEO Steve Povall and now runs three successful departments: Sales and Lettings, Property Investment, and Short-Term Lets.
Today, one of Residential Estates’ main strengths and focuses is the successful collaboration between the Investment and Short-Term Let departments. An experienced team of property investment specialists carry out extensive research in order to deliver a streamlined route to market for developers who are looking to sell their projects, whilst the Short-Term Let Consultants manage over fifty serviced apartments on the short-term accommodation model for their own investor clients.
Part of Residential Estates’ success in the attractive short-term let market lies in the full management service that it can provide for clients. First, developments are sourced that fit bespoke criteria and in locations where demand is high. These properties are then sold to a database of clients, utilising a worldwide sub-agent network in the process. Dependent on location, Residential Estates manages the property on behalf of the client or will find a suitable alternative from a network of partners in the property industry.
This unique selling point of the Cheshire-based company enables them to build close working relationships with developers and clients from the start of the process. Residential Estates offers developers access to a tried and tested database of dedicated investors and then maintains full accountability throughout the management process.
Twelve years ago, the transition from standard lettings to short-term lets was made when an untapped source of potential in the market was spotted. By bringing together a year-round supply of corporate clients visiting the area on a short-term basis with an existing database of landlord clients with property in prime locations, Residential Estates’ short-term let model presented an exciting opportunity.
Their philosophy has not changed, and Residential Estates continues to supply premium home-from-home accommodation to corporate and tourist visitors today. Five years later, equipped with an in-depth knowledge of the property industry, Residential Estates expanded into the investment market and has been providing clients with a premium service built on reputation ever since.
Paul Winder, one of Residential Estates’ experienced Investment Consultants, works closely on both short-term accommodation contracts and investment sales. He explains why the joint forces of the two departments proves to be a winning combination for investors.
“From our experience, investors are rarely inclined to market and manage a property themselves after they have gone through the process of purchasing it and converting it to suit their requirements.
It seemed obvious that, armed with our knowledge of all three areas (investment, lettings and short-term accommodation), we could provide a one-stop shop for investors. We can liaise with developers, market and sell the property, and then manage it. It is a win-win situation for all parties involved.
We have targeted areas that we believe hold a wealth of potential, and we are looking to work with developers and offer them our database of investor clients who show massive interest.
First and foremost, we offer strong investments with good exits and value. However, we are also offering something completely unique.”
With thousands of investors on their books and long-standing relationships with reputable developers, Residential Estates has grown to become one of the leading names in the industry. This exciting market trend shows no signs of slowing, and with both markets continuing to develop, Residential Estates is looking to establish new relationships with developers and source the next best location for the corporate let market.