Dundee letting agency Dymock Properties has announced an expansion deal which has seen their housing portfolio increase by 33%.
The firm has taken over Professional Propertay after owners Dal and Laura Chima decided to hang-up their keys and retire.
Dymock Properties director Neil Dymock was approached by the couple to take on the business, and will add the 40 homes to their existing portfolio of around 120.
Neil established his Broughty Ferry business in 2022, after years in the sector working with Easy Lets.
The former Dundee High FP rugby captain was prompted to strive out for himself as he approached his 40th birthday.
Dymock Property acquires firm as retirements announced
Neil has seen his business grow in the two years since as the property and rental market takes its “crazy” path out of the pandemic restrictions and changes to legislation in Scotland’s rental market.
“I set-up Dymock Properties in 2022, on my birthday. I wanted to establish a company before I was 40, and see if I could go out on my own and succeed after 15 years working with EasyLets.
“It was, like most people in business, started by blind ambition and a desire to test myself.
“We have just acquired Professional Propertay Ltd, which was run by Dal and Laura Chima.
“They approached us asking if we would be interested in taking on their business, as they were looking to retire.
“They were looking for a trusted business, and like most letting agents in the city are paths had crossed several times.
“With this acquisition we add their 40 properties to our existing portfolio of 120.
“The property market is crazy at the moment, certainly in my years doing this I have never experienced anything like it.
“The average time we will have a rental available is around two weeks.
“There is a huge demand for two and three bedroom homes and flats.
“It is a combination of a lack of available properties and high demand.”
Legislation uncertainty
Neil predicts an exciting year ahead for the company, and pointed out the rental market was showing no sign of “slowing down”.
“Like every sector, property management was really impacted by Covid legislation,” he said.
“The unique legislation, which affected every part of our job, made things difficult.
“And now, with the uncertainty surrounding the Scottish Government, it remains unclear if the Green-led policies will be pushed through. These could cause continued restrictions in the rental market.
“But the next year is shaping up to be very interesting.
“The market is showing no sign of slowing down.
“Interest rates reducing, which they are predicted to do, will play a part in how things go.
“But we are gearing up for an exciting year ahead.”