Close to £120,000 has so far been raised via a crowdfunding platform by two property entrepreneurs catering for professionals seeking house shares.
Andy Graham, 29, and Nick Morris, 31, co-founders of Smart Property, specialise in renting designer house shares to professionals in the north of England and the Midlands, have set a total of £150,000 investment target via Crowdcube, in exchange for up to 15% of equity in their business.
Graham said: “The company is expanding at a phenomenal rate, and the house sharing market is exploding. As such, it's an incredibly exciting time for the business, and we’re now ready to accelerate our growth and take Smart Property to the next level. This is why, for the first time, we’re the public to be part of our exciting first investment round.”
Graham believes that the professional house sharers market is currently ripe for investment given that many young people are unable to get a foot on the property ladder due to high property prices.
He continued: “These young professionals go to work every day and do not want a shabby, student-style house share. They want to share with other young professionals in smart, clean, fashionable, tech-smart properties with all mod-cons.
“We at Smart Property collaborate with landlords to refurbish properties and ensure that this new generation of house-sharers gets exactly what they are looking for. The company is expanding at a phenomenal rate, and we are offering for the first time the opportunity for private investors to be a part of this with us.”
Smart Property offer landlords a guaranteed rent, while offering tenants high-tech heating and utilities, and the ability to unify the rental cost into one single monthly payment that includes super fast broadband, Sky TV and semi-serviced living - which might include cleaning services or laundry collection.
“We are currently taking on one property a month, and turning others down because of our funding limitations. This is why we are inviting private investors to be part of our exciting first investment round, which will fund the refurbishment of 40 properties over the next 12 months. If successful, this will deliver fantastic profits by December 2017,” he added.