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17 pre-tenanted apartments

We don’t just say it, we’ve done it...

17 pre-tenanted apartments

lettings & estate management of 17 pre-tenanted apartments in a development of 23 units

the background

Centrick Property was asked to take over the management of 17 tenancies, as well as the maintenance management of the development as a whole, when the portfolio fell into Receivership. The project had been subject to extremely poor management in the past, the communal areas and grounds were in a state of disrepair and, subsequently, this had affected the calibre of tenants at the property with drug use problems rife and reports of dealing and prostitution on the site. In addition, there were problems with the way tenancies had been set up with ‘missing’ deposits on a number of the units, poor lease documentation and no inventories.

what we did

Centrick Property carried out the following:

  • Thorough review of maintenance requirements and cost-effective solutions provided
  • Landscaped all communal grounds
  • Redecorated communal areas throughout.
  • Carried out inspections of all tenanted units to identify problem tenants
  • Challenged any tenants suspected of drug taking at the property and actioned notices and evictions where appropriate
  • Reviewed all tenancy paperwork, resigning good tenants into new and more comprehensive lease terms, tracing deposits where possible and ensuring they were registered with a deposit protection scheme and confirming that required information such as EPCs were held for all properties

the successes

  • All ‘bad’ tenants that had not been appropriately referenced and were not paying their rent or causing problems onsite by breaking other tenancy clauses were either evicted or arrears were recovered.
  • Where there had historically been a lot of DSS tenants with no guarantors, including many youngsters that were causing problems with late night parties etc, Centrick Property managed to replace these tenants with working professional tenants in the main or, on the rare occasion this was not possible, ensured that a good quality guarantor was associated with each new tenancy
  • Thanks to the significantly improved quality of the development, rents were raised by approximately 20% when properties came up for re-let which, in turn, helped to increase the value of the asset when it finally came to disposal.

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