Ultralets Acquires Hull House Group's Lettings Portfolio

08 Apr 2022

Earlier this year, Ultralets took the customers of Hull House Group's lettings portfolio under its wing.
Stephen Dam, the owner of Hull House Group (HHG), had a portfolio of lettings properties but was looking to take his business interest in a different direction. Stephen wanted to ensure he passed his longstanding clients over to a responsible agent to continue to support and look after them.
Steve approached us in November to discuss his situation and bounce ideas of how to proceed off of another agent. We met with Steve again a few more times throughout November and December to discuss the logistics of moving his clients over to Ultralets. These discussions were successful and gave both parties the confidence to proceed with the acquisition, safe in knowing that his clients would continue to receive the high standard of care that Hull House Group provided.
On February 1st 2022, Ultralets officially welcomed all of the HHG landlords and tenants into the fold in a smooth transition of ownership. Section 48 notices were issued to all tenants to inform them of the change of managing agent, with a direct line of contact back to us if they had any questions or queries during the brief transition period.
Another great benefit of this acquisition was that we were able to bring Ellie Ford onboard to our Finance Team. Previously employed by HHG, Ellie has become an invaluable asset to Ultralets by bringing her pre-existing relationship and knowledge of the landlords and tenants who came with her. Ellie has landed on her feet with us and taken to her new role brilliantly, supporting our Finance Team with our full portfolio of landlords, properties and tenants to ensure rents are collected, arrears are chased and landlords are paid.
We are flattered to have been chosen by Steve to take over his portfolio of clients. We have built our business on trust and reputation so it tells us that our hard work is paying off, to know that another agent owner would entrust their business to us.
A word from Spencer:
Steve and I were connected a bit out of the blue and this situation came about very quickly, from the off I felt that Steve and I shared a similar perspective on how property management should be done. I'm particularly pleased with how the existing Ultralets team adapted to transition the tenancies over as smoothly as possible.
A word from Steve:
The lettings portfolio in our business developed organically over the past three years however had become a challenge to manage as the client base grew. After meeting Spencer I was convinced that both Ellie (our Property Management Apprentice) and our portfolio of landlords would be in the best hands possible to grow and develop. The transition has allowed me to focus back on the areas of business that we do best - creating and developing amazing homes.
We want to give a huge thank you to Stephen, Hull House Group and all of the tenants and landlords that have joined us through this transition.

Posted By

Ollie Potten

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