Management
All our homes will be managed through our partnership with Centrick.
Responsibility
Who is responsible for what
Crescom Capital
Originates, prices and structures transactions and sets asset strategy, planned maintenance, stock condition, the sinking fund, and the long-term investment in each home.
Centrick Property Management
Centrick currently manage over 30,000 homes across the UK. They will use this infrastructure to deliver day-to-day service: lettings, rent collection, repairs, compliance, and the shared ownership functions including sales, resales and staircasing.
Oversight
A partnership, not just an outsourcing contract
Dedicated partnership
Management is delivered through a partnership for this purpose with Centrick, a national property management business with established housing operations. We are working with Centrick to set up a dedicated specialist affordable housing team, not an affordable-housing desk inside a build-to-rent operation.
The economics are aligned rather than fixed: the management fee is structured as a base fee plus an additional performance fee based around customer satisfaction, voids, rent collection and compliance.
Standards and oversight
Performance is reported to Nestily's board quarterly against key KPIs including rent collection, voids, repairs completed in time, compliance across the statutory disciplines, complaints and their resolution, and resident satisfaction.
Our own team
Asset management inside Nestily Homes is led by Ben Mitchell. Ben will also act as a director on the RP sharing responsibilities for deilvery of the KPIs agreed with the Board.
Connecting Capital
Unlocking Homes