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With 15 offices now in operation across Sydney and the Hunter Valley, this 25-strong team has marked a massive milestone in its rent roll.
Urban Real Estate, the brainchild of Urban Land Housing, has reported a now $1.3 billion strong project management division, bolstered by its “paddock to property management” ethos.
REB previously reported on the company’s decision to make an “exponential expansion into selling and managing new and established homes” last year.
Now, its team of 25 manages more than 1,700 properties.
According to Thuong Chamberlain, Urban Real Estate’s head of property management, the “paddock to PM” vision can be thanked for its recent success.
“For many clients, the business sold the land to them, managed the build process, and now oversees the asset.”
Chamberlain further explained that “clients trust the brand and appoint the company for the entire property journey”.
From her perspective, the $1.3 billion achievement has been fuelled by tailor-made services, streamlined processes, and a strong leadership team.
It comes amid a changing market, with Chamberlain highlighting that clients are now seeking property managers that know local markets and have a strong understanding of what is required to protect assets.
“In recent months, we have witnessed a rise in the number of people using self-managed super funds to purchase investment properties as well as the intergenerational wealth change starting,” she flagged.
The head of property management has also observed the emergence of a new landlord demographic, stating “there is a shift towards more Millennial landlords as they inherit properties”.
As a result, the business has introduced new technologies to adapt, including SMS, live chat, and WhatsApp capabilities.
“The team is constantly implementing strategies to maximise value for properties which is crucial to protect landlords’ assets,” Chamberlain quipped.
Taking a bird’s-eye view of the company’s rent roll, more than 45 per cent of Urban Real Estate’s properties are located in Sydney’s growth corridors, at an average property value of $800,000.
Over this calendar year alone, the company also noted it had seen an 8 per cent increase across properties eligible for rental increases.
