Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
In the midst of one of the UK’s largest online letting agencies closing its doors to new business and others losing money raised from Crowdfunding hand over first, LettingSupermarket.com are well and truly bucking the trend.
They successfully completed two crowdfunding campaigns in 2015 and 2016 and raised £375,000 of seed funding from 121 investors to help grow the business. This level of Crowdfunding is just a tiny fraction of the amounts their rivals managed to raise. However, their prudence, innovation and commitment has paid off with the company having already moved into profit and declared it’s first dividend payment.
Chris Sheldon, Managing Director of LettingSupermarket.com said …
“The hybrid and online sectors growth in the lettings market has been turbulent with many competitors utilising the online estate agency style model focused on volume rather than service levels. Lettingsupermarket.com approached the market from a different prospective and by listening to what clients want we have been able to improve service levels and reduce overheads through automation. Coupled with our strategic acquisitions we are very well placed for rapid expansion without affecting the level of service received.
I’m delighted that we are able to issue a dividend to our shareholders and thank them and Property118 for there ongoing support and look forward to continued growth with our focus now being on market share whilst maintaining profitability”
The latest initiative from the company has been to offer portfolio landlords with more than 10 properties a free video conference with Chris Sheldon to discuss how his company can help landlords to minimise voids, minimise their time commitment and obtain incentives/grants whilst paying some of the lowest lettings and management fees on the market.
These video conference sessions can be booked by landlords emailing firstname.lastname@example.org with an outline summary of their property rental portfolio, e.g. number and type of properties, locations, approximate values and rent roll. Attaching a property schedule to the email requesting the free video consultation is always very helpful.
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