Company has been launched earlier this year and now manages £60 million worth of property within London’s Zones 1 and 2 transport areas.
A tech-heavy property investment start-up with a familiar business model hoping to take business of prime rental firms has received an extra £2.5 million from investors.
Residently takes over apartments from landlords, renting them direct on leases of up to five years and letting them out to tenants via a smartphone app-based management system.
This looks after viewings and tenant on-boarding and also enables tenants to order services such as cleaning services, furniture and even Christmas trees.
Residently does not charge tenants any fees and enables them to move in up to three months after committing to a tenancy as well as move around the company’s network in London and, later, other key global cities. If the go away for prolonged periods, their homes can also be sub-let should they wish so.
Launched earlier this year, Residently has been funded until now by founder Tom Allason with cash he made from selling two online courier companies.
But the company has now received a further £2.5 million from undisclosed private investors after securing properties under management worth £60 million or approximately 60 apartments, with a further 15 waiting to be rented out.
The properties are largely upmarket apartments in central and prime but fringe areas of London ranging from £1,658 for a one-bedroom apartment in North London to £18,754 for a four-bedroom house off Old Street.
The company offers landlords flexible multi-year leases, guaranteed income, doesn’t charge management fees and claims to offer them ‘better yields over the long-term’.
