Ascend collects 99% of rents

Build to Rent (BtR) specialist, Ascend, has collected 99% of all invoiced rent during the coronavirus crisis.

The Manchester-based company has reported the figures from the period January-September 2020, which includes the period of national lockdown in response to COVID-19.

During this time Ascend has collected almost all rent owed on its growing national portfolio of BtR schemes, which comprises two- to four-bedroom apartments and houses in developments ranging from 50-100 properties.

The industry average for rent collection has been 95%.

Ascend has worked closely with its residents throughout the pandemic to ease their concerns and provide individuals and families with flexible terms where needed.

The company agreed payment plans with the people worst affected and then worked closely with residents to get their payments back up-to-date.

This flexible approach has enabled Ascend to identify those residents who require extra support, while maintaining a high-level of rent collection for clients.

Ged McPartlin, managing director, said: 

We all know how tough this year has been for many people, without adding housing worries into the mix. We understand just how vital it is to provide high-quality rental homes in the areas where they’re most needed – and to protect those renters who might require extra support from time to time.

By putting our residents’ individual circumstances first and being flexible in our approach, we’ve worked hard to collect almost all invoiced rent. This is testament to our track record as a leading BtR specialist, our knowledge of the sector and what people need from an agent, especially at difficult times.

Ascend’s BtR clients include Gatehouse Bank, Live DifRent, Sigma Capital Group and Simple Life.

To support its ongoing growth, Ascend has added more than 20 people to its BtR team in 2020 and intends to expand the team by a further 50 in 2021.