Rent Guarantee gives income boost to agency group
Summary
The Property Franchise Group reported stronger first-half results, with lettings franchise revenue up 2% and overall group revenue up 7%. The group highlighted the resilience of its managed lettings portfolio and said it had supported franchisees through implementation of the Renters Rights Act.
Why it matters
Surveyors involved in residential lettings and portfolio management should note the continued emphasis on recurring rental income and compliance readiness. The reference to the Renters Rights Act indicates ongoing regulatory change affecting agency operations and landlord-tenant processes.
Key points
- Lettings franchise revenue rose 2% to £10.6m in the first half.
- Managed lettings portfolio remained at 149,000 properties.
- Rent Guarantee now protects over 72,000 managed properties.
- The group says it supported franchisees through implementation of the Renters Rights Act.
- Overall group revenue increased 7% to £43.3m.
Organisations:
The Property Franchise Group, Belvoir, CJ Hole, Clarke & Partners, Country Properties, Ellis & Co, EweMove, Fine & Country, Hunters, Lovelle, Martin & Co, Mullucks, Newton Fallowell, Nicholas Humphreys, Northwood, Parkers, The Guild of Property Professionals, Whitegates
Regulations:
Renters Rights Act
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