A pioneering property management company which transforms undervalued residential schemes is aiming to triple the size of its business after completing projects in eight UK cities during its first year.
Resify – which has an office in Sheffield – achieves typical rental uplifts of 20 per cent thanks to its unique ‘360-degree’ approach, which includes cost-effective makeovers, a flexible lettings policy, pro-active management style and investment in the latest digital technology.
Established in July 2020 in the midst of the pandemic, the company has ‘repositioned’ over 100 apartments during its first year and now has 148 units with a total value of £20m under management. It is aiming to triple the numbers to 300 and 500 respectively by the end of 2022. It is also planning to set up a service centre in Lithuania to house a team of IT developers and back-office staff to support its further growth.
Resify has undertaken repositioning and refurbishment projects in excess of £500,000 in Sheffield, Buxton, Manchester, Liverpool, Stoke, Leicester, Plymouth and London. They have included refurbishment of part of the Skyline 2 scheme in Manchester, and reconfiguration of student accommodation to residential apartments in Sheffield on behalf of L1 Capital.
Resify was founded by Obi Williams, a former City broker who has over ten years’ experience in the property industry and has managed almost £200m worth of assets across the UK and UAE. Most recently he ran a successful property management company, ZO, in partnership with former Manchester United footballer Wilfried Zaha.
Obi, who is managing director and currently leads a team of 12 staff, says Resify is rethinking asset management whilst responding to the changing demands of tenants in the post-pandemic world. “Tenants’ needs have changed,” he said. “The ‘work from home’ culture has opened up new possibilities as to where and how people choose to live. Some have moved out of the city but still need to spend periods near the office. Then there are ‘digital nomads’, parents wanting a place near to their child’s university or family members, and people working on contract.
“Changing lifestyles are driving demand for mid-term and flexible lettings. Resify offers a choice of tenures to suit tenants’ needs, and we make renting hassle free. Virtual viewings and online platform make it easy to find a property, and our ‘plug and play’ approach means they can move in straight away and enjoy a ‘home from home’ experience in a fully furnished property with every convenience. We are redefining future living for a new generation of tenants.”
Through its approach to lettings management, Resify typically achieves occupancy rates of 95 per cent. It also uses cost-effective makeovers to enhance the appeal of undervalued properties, while investment in technology enables features such as data-driven decision making, 24/7 online tenant service and live budget management, ensuring a seamless service for both tenants and investors.
Obi added: “We aim to drive value for investors by maximising rental yields and capital growth while reducing costs. Our combination of tried and tested techniques enables us to take on under-performing properties and turn them into profitable investments.
“At a time of uncertainty within the property market, our approach helps investors adapt to the changing trends and achieve superior returns – something that will be even more important in the future.”