Is the buy-to-let boom coming to an end, with yields down and landlords selling up? This is only one side of the story. The dynamic Chana brothers’ partnership, Pass The Property is currently finding exciting new ways to make property profitable, with proven, eye-catching increases returns from lets.
Harminder Chana, co-founder of Pass the Property announces a forthcoming event to showcase the company’s approach to creating luxury serviced accommodation.
“We’re showing investor landlords a means towards tripling their rental incomes by transforming their properties into luxury serviced apartments.”
This involves a forensic level of local knowledge.
“We’ve got a portfolio covering 18 UK cities, including Birmingham, Leeds, Manchester, Liverpool and Cardiff. It’s taking the regeneration ball and running with it, building on that sense of momentum.”
People Are Looking for the Unique
When it comes to finding accommodation, especially in the corporate sector, increasingly people want more options, to flexibly fit their schedules and lifestyles.
“What the right kind of serviced accommodation offers is affordable luxury that feels unique. At the same time, it means people can plan their schedules much more freely, and feel more relaxed in their accommodation. We’re in an age of mass customisation, where technology and apps enable us to tailor our experiences. Serviced accommodation fits in perfectly.”
“Why settle for the merely ordinary, when you can experience something different that not everyone else will have?”
“It’s about finding a niche and taking control of it. Landlords can do this, with our help. The UK’s national and international centres of commerce are more geographically spread out, so we can help landlords capitalise on the strategic location of their investments.”
“We believe we can create a market almost anywhere, as long as the property is well-designed, user-friendly, with a high-end finish.”
“With our input, working closely with landlords, we can transfer properties into something truly spectacular, helping put them, and their location on the map.”
Average figures across the country reveal the extent to which Pass The Property can boost returns for landlords.
“The average long-term let for a two-bedroom apartment in Manchester is £850. Our figure, after fees, is £2200. We have repeated this success in different regions. In Bradford, an average let of £400 can reach £1200; in Cardiff, we’ve taken a property’s lettable value from £625 to £1600.
The brothers’ formula for success is adaptable to different areas, with varying levels of affluence.
“For a property in Chester, where the average long-term let was £1100, we more than doubled it, to £2700.”
The Personal Touch
The route to success comes from the brothers’ personal commitment to their work.
“My brother Parminder and I understand that to change landlords’ mindsets we must show them the benefits of serviced accommodation. This means being very much personally involved in our projects, understanding the local areas, and the needs of potential customers.”
The brothers know what it takes to find a route to better rental income for landlords.
“In January 2019, we’re hosting a small, invitation-only event at the Georgian House in Salford, to offer an insight into luxury accommodation done well. We want people to see what our personal approach to serviced accommodation can do in accelerating the earnings of their property investments, while giving them total peace of mind.
About Pass The Property
Harminder and Parminder Chana started the business as a way of bridging a gap, where hotels were unable to offer a more personalised experience, but where typical serviced accommodation was falling short in the luxury stakes.
The concept behind Pass The Property is that they offer a comprehensive solution, inside and out: from interior design to key management and day to day running of the accommodation.
More than this though, is the idea of elevating serviced accommodation into something that offers a unique, luxury experience, through a network of properties, which stretches across the country, in key urban locations.