Subscribe to our daily newsletter to get stories like this delivered directly to your inbox
Aberdeenshire property management services and letting agents, The Property Management Company (PMC) is to open the new 1500 sq ft premises on Holburn Street, Aberdeen after securing a £105,000 funding package from the Bank of Scotland
Head quartered in Oldmeldrum, the business has set up a presence in the heart of the granite city to better support its growing letting and property management customer base across the region.
In 2002, Martin Rochfort bought the business and employed one part-time member of staff and managed just under 500 properties for its clients. Today, PMC currently employs 25 full-time staff and manages over 8,000 properties in addition to letting over 100 flats.
The larger city centre premises will now give PMC greater visibility for prospective and existing clients and support the business’ ongoing expansion plans across Aberdeenshire and throughout Scotland. PMC also plans to create a new property manager role in the coming year.
Martin Rochfort, owner and director of The Property Management Company, said: “Looking ahead to the next three years, we are confident in our future growth prospects and it’s important that we forecast our resources accordingly to ensure we offer the best service to our clients. It is the right time to expand our operations and open a new, more central location.
“We’re also seeing a positive impact from The Housing (Scotland) Act introduced by the Scottish Government. This new legislation makes it mandatory for letting agents to be qualified, improving levels of service and professionalism across the industry.
“As a business we have a strong belief in education, qualification and accreditation. With staff qualified by the Royal Institution of Chartered Surveyors’ (RICS) and the Institute of Residential Property Management (IRPM) we’ve therefore been well placed to capitalise on the increased level of compliance required and pick up business from other agents bailing out.”
Nichola Scott, relationship manager at Bank of Scotland, said: “The rental and property management sector has seen a flux in activity over the past few years with the slump in the oil and gas industry strongly contributing to a slowdown in new rental properties coming onto the market. Scottish Government stats to 2017 saw rents for two-bedroom properties in Aberdeen and Shire fall by 9.6%, which was the third consecutive annual decrease.
“We’re now seeing a gradual improvement in the wider property market with confidence returning and more people securing mortgages and seeking buy-to-let investment opportunities.
“We have a team of relationship managers working closely with businesses across Scotland. From providing expert advice to supporting businesses’ ambitious growth plans, we are determined to provide the tools needed to help companies achieve and secure success.”