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Private Rental Sector (PRS)

Decades of specialised residential property experience puts ODREM at the forefront of Ireland's growing Private Rental Sector

We build Capital Value

Our experienced PRS Team has unparalleled knowledge of the Irish Residential Property Market. We manage and oversee multiple client investment portfolios, where our involvement may have been initiated at the design and development stage through to site mobilisation to ongoing rent stabilisation and management.

Our Residential monthly rent collection is in excess of €7m.

Our Services include:

  • Project Management – Design and Operational Advice
  • FF&E Specification and Procurement
  • Lettings Strategy & Phased Handovers & Site Mobilisation
  • Marketing – Demographies and Competitor Buildings
  • Property Management & Rent Reviews
  • Facilities & Estate Management
  • Health Safety & Compliance Consultancy
  • Tenant Customer Excellance & Community Engagement
  • Amenities Services
  • Smart Technology – Customer Experience
  • 24/7 Contact Centre
  • B1 Operational and Financial Reporting

Our clients include National and International Clients, Institutional Investors, REITs, QIAIFs, ICAVs &  High Net Worth individuals

Private Rental Sector (PRS)

Case Study

Client – US Property Fund
Our role – Property Management & Lettings

Description – 128 Apartments within a Multi-unit development of 535 units

  • Distressed Asset Remediation, OMRV Rent Stabilisation – 12 month timetable
  • Asset by Asset Conditional Surveys
  • Apartment fit-outs and refurbishments – €275k Capex
  • Lease Formalisations, new Lettings & Rent Reviews €1.45m to OMRV
  • OMC operational Audit (H&S and Environmental)
  • Building Investment Fund (BIF) commissioned
  • Year 1 target rent achieved € 1.82m – 25% increase
  • Annualised Rent Roll €2.1m+

Date of engagement 2014 – ongoing

Case Study

Client – Private Equity Fund
Our role – Property Management & Lettings

Description – 91 apartments including 3 commercial units

  • Distressed Asset Remediation, OMRV Rent stabilisation – 13 month timetable
  • Strategy Recommendations to achieve operational compliance & OMRV
  • Apartment Refurbishments – CBA Analysis & Programme Management €128K
  • Latent defeats – fire stopping works – Project Management
  • Planning and conversion of 3 commercial units to 6 apartments
  • Passing Rent Reviews €1.18m to OMRV
  • OMC Estate Management Audit– Budget €128K
  • Year 1 target rent achieved € 1.34m – 12% increase
  • Annualised Rent Roll €1.8m

Date of engagement 2015 – ongoing

Case Study

Client – US Investment Fund
Our role – Property Management & Lettings

Description – 101 Apartments within a scheme of 318 units

  • Distressed Asset Remediation & OMRV Rent Stabilisation – 11 month timeframe
  • Conditional Surveys & Strategy recommendations to achieve OMRV
  • Apartment Refurbishments – €200k Capex – Tenants in situ
  • Lease Formalisation & Rent Reviews to OMRV
  • OMC Audit incl H&S and Environmental – Budget €475K
  • Latent defects – water ingress/ balconies – Resolution Project & Management
  • Year 1 target rent achieved €1.71m – 20% uplift & tenancy profile enhanced
  • Annualised Rent Roll €2.1m+

Date of engagement 2014 – ongoing

Case Study

Client – International Fund
Our role – Property Management & Lettings

Description –  355 Apartments across 4 schemes – initially underlet and vacant

  • Survey & Remediation works
  • Fire stopping rectification works
  • Health and Safety and Environmental review
  • Fit out of all vacant units
  • Lease Remediation of Existing Tenancies to OMRV /Quality Covenants
  • OMC Estate Management – Audit and Operational overhaul
  • Year 1 Gross Rent increased to €5.8m (7.5% increase)
  • Landlord costs €1.3m (7.1% reduction)
  • Net Rents €4.5m

Date of engagement January 2014 – ongoing

Silverstone House
Ballymoss Road
Sandyford
Dublin 18
D18 A7K7
Ireland

Tel +353 1 660 3822
Fax +353 1 660 7863
Email enquiries@odrem.ie

PSRA 001885