Management and Maintenance contract for West Norfolk Property Ltd
Description
West Norfolk Property Limited (WNPL) is a company wholly owned by the Borough Council of King’s Lynn and West Norfolk which was set up in 2018 to hold private rented housing in the borough in order to provide an income stream to the council and increase the supply of high quality, professionally managed and more secure private rented housing in the area.
The company operates on a commercial basis, limited by shares and currently owns 95 properties, all of which were acquired from the Council’s development sites as new build since 2020. It has an identified pipeline of new build homes to be acquired from the Council and let at full market rents taking the portfolio to 139 homes by the end of 2027. The current portfolio and identified pipeline is located in King’s Lynn. Properties are available for renting to the general public, rather than defined categories of applicants.
The Company is actively exploring opportunities to acquire additional homes from the Council and is also exploring opportunities to acquire homes from third parties. This may include homes in other parts of West Norfolk or Norfolk following Local Government Reorganisation.
The Company will be seeking a partner to provide full management and maintenance services of Company’s portfolio for two years, plus a two year extension clause.
The service will be responsible for all day-to-day management and maintenance of the portfolio including
•Marketing and letting (including assessing applicants, referencing and setting up the tenancy)
•Rent collection and arrears management
•Periodic inspections;
•Arranging and managing repairs
•Void management
•Compliance
•Customer services.
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