Grainger launches PRS tech platform
Grainger has launched Connect, a platform that puts the rental process for its private rental homes entirely online in a single location.
Grainger’s customers will now be able to organise viewings, apply and deal with lease agreements on the platform.
Connect also provides a portal for residents which deals with needs such as repair requests, amenity bookings, account queries and connecting with neighbours.
Grainger has launched Connect, a platform that puts the rental process for its private rental homes entirely online in a single location.
Grainger’s customers will now be able to organise viewings, apply and deal with lease agreements on the platform.
Connect also provides a portal for residents which deals with needs such as repair requests, amenity bookings, account queries and connecting with neighbours.
For Grainger, Connect will help to minimise costs, drive operational efficiency and support its ambition to double the size of its 8,500-home rental portfolio.
“Connect enables our customers to undertake nearly every interaction regarding renting and living in their homes from their mobile or computer, linking seamlessly with Grainger’s back-end management systems,” said Helen Gordon, chief executive at Grainger.
Trading update
Grainger also reported in an update that it was forward funding a second scheme in Bristol, known as Millwrights Place.
The 231-home scheme, next to its Hawkins & George scheme at Finzels Reach, is being developed by Cubex Land.
Grainger said its Hawkins & George scheme was now fully let less than four months since it was launched on to the market at rents 4.4% above March ERV. The total annual net rental income of circa £2.3m represents a gross yield on cost of about 7%.
Overall, Grainger said it had seen its rental growth increase by 3.4% so far in its current financial year, while occupancy in its PRS portfolio stood at 97.5%, with stays averaging 32 months.
The company’s PRS pipeline now comprises 25 schemes, including its joint venture with Transport for London, representing 8,608 homes, 15 of which are under construction.
Gordon said: “Our disciplined investment decisions and clear focus on operational excellence is delivering sustainable growth for shareholders, customers and communities alike. Since the start of our strategy in 2016 we have committed investment of £1,555m into new private rental housing.
“During the year, we have competed 912 new private rental homes, with a further 1,150 to come in FY20.”
To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette
