Rhodium has launched a white-label property management service dedicated to the branded residences sector.
The luxury property advisory and management firm will provide its services and support from pre-planning through to operational execution for both hotel and non-hotel brands. This will include support from initial concept and planning phase, sales and marketing, mobilisation, lettings, and post-completion property management.
As part of the service, Rhodium will provide homeowners, brands and development partners with a rental solution for participating properties where homeowners can elect to rent their homes, with the letting process and tenancy managed by Rhodium.
Why it matters
As global demand for branded residential developments continues to grow, Rhodium’s move cements its presence in the ultra-luxe residences sector; the firm’s £12 billion portfolio under management includes over 40 super prime developments, including branded residences schemes in London, Dubai and Athens.
The stand-alone model of branded residences is gathering momentum and it seems many – including companies like Accor and Marriott - are flocking to take advantage of the opportunity. Adding a residential element to hospitality projects makes it easier for developers to get financing and more immediate return on investment while simultaneously benefiting from a long-term revenue stream on the hotel side.
What they said
Dean Main, CEO of Rhodium said: “Developers and luxury brands have come to us asking for a management model that delivers the hospitality service and property management components. As the industry has evolved, buyers are more discerning and well-informed, seeking clear answers about how the premium price associated with a brand name is justified and how their property investment will be cared for once the keys are handed over.
Our global team is uniquely positioned to handle the intricate demands of residential projects, from providing property management and concierge services, through to in-residence maintenance solutions and everything in-between, each serviced to the demanding standards of the respective brand name.”