Cunningham Lettings, a Nottinghamshire residential lettings agency that began trading at the start of the recession has reported excellent growth, expanding its managed property portfolio from 21 to 150 over the past 18 months.
This sales growth has seen the business outgrow the Derby home of its owner Gaynor Cunningham and take up residence in its first offices on Lenton Boulevard in Nottingham.
Now based in the heart of the Nottingham student population and the properties that make up the majority of its customers, the business hopes to continue this growth level year on year.
Lettings consultant and former accreditation officer for student housing charity Unipol, Gaynor Cunningham started the business to offer a more student-focussed service, and it’s this USP that has helped the business grow according to Gaynor. She says: “Competition has been fierce throughout the recession. There are lots of other competing agents in the area, rents have decreased and there has been a lack of quality property available due to landlords decreasing their holdings to realise equity in the recession.
“When I started the business – I wanted to offer homes to students that I would be happy for my children to live in. This helped us build the trust of students and their parents and of course meant that they became tenants in our landlords’ properties. Keeping properties let has meant that our landlords have been less tempted to sell in tougher times.”
Gaynor attributes Cunningham Lettings’ success to the fact that it offers a full management package and only takes on properties for landlords that are committed to meeting and exceeding Unipol’s standards, and the fact that her team knows the names of all of their students – thanks to the company’s dedicated team and Facebook and twitter pages.
“We could have doubled the size of the business if we chose to let and manage all of the landlords’ portfolios we’ve been approached with,” explains Gaynor.
“This business is based on partnerships and the good landlords that we work with have invested in their homes throughout the recession meaning that Unipol is happy with them and as importantly – the students’ parents are happy for them to live there.”
Cunningham Lettings’ team comprises four office-based staff who are all working mums, with the latest addition to the team being a dedicated property maintenance manager. The team also has two part-time student representatives, who themselves are still studying at University. Based in Nottingham, the team cover areas such as Nottingham City Centre, Beeston and Sutton Bonington and Kegworth.
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