A business idea is usually born from a need to create something
new or make something better. Property owner Vanessa Strauss
worked in the City of London and retained some property in the
region of Tunbridge Wells. Having employed a number of letting
agencies to rent out her and other Investment Landlords property,
and living in rented homes, she saw the picture from both a landlord and tenant’s perspective. She experienced significant problems in the letting and property management process. Upon reflection and speaking to other property owners and tenants, it became all too clear that the system was not working in an efficient and optimistic way.
- The charges and fees were barriers to moving and unfairly high.
- The service and products promised in Agency Agreements were not always provided and often contained hidden charges.
- Communication was poor and there were many occasions in which the letting agent failed to develop a good relationship with either the tenant or the landlord, or both.
- The properties were not being looked after well and inspections were not being done, leading to depreciation in the value and potential yield.
- Rent was not always paid on time.With a desire for real change, Vanessa worked with a range of Landlords and undertook research with tenants to develop a model of best practice. By analysing competitors, reviewing fee structures, rental yields, marketing processes and response times, Vanessa and her team have built a new eco-system that works responsibly and profitably for all stakeholders to maximise opportunity and value in the lettings market. And so Bright Fox was born. The fundamentals of this business are ethics, honesty, financial reward and good relationships built on real trust.