flyp.co

Review of Flyp's property management services - happy customer here

I engaged Flyp to refurbish and manage my flat in London when I decided to sell it. The sale faced two significant challenges: the building required fire safety remedial work, and the flat was worn and torn after housing three different occupants over a ten-year period. Initial attempts to sell proved difficult, with potential buyers expressing concerns about the uncertain fire safety works.Despite my initial scepticism about their fee structure—based on a share of both the uplift in sale price from an agreed baseline, and a share of rental income—I decided to proceed with Flyp's services.Their performance exceeded expectations in several ways. They executed a superb renovation that significantly enhanced the flat's appeal, creating the 'wow factor' I had hoped for. This proved crucial in maintaining buyer interest throughout what became a protracted sale process.For approximately nine months between the refurbishment and sale completion, Flyp managed the property as a short-term let. Their management was characterised by excellent communication and accountability, and swift and practical problem resolution (for example, they offered to support the installation of smart metering after an occupant of the flat while they were managing it left a water heater on and ran up a high energy bill). They also ensured consistently high occupancy rates, and offered a highly professional service throughout.My investment proved worthwhile in that the post-commission rental income roughly matched that under two previous long-term tenancies. The sale price achieved justified the initial outlay, and most importantly, they relieved me of managing a flat which was becoming a major stress on family life, and one I had no idea how to fix.I know that other leaseholders in the building have struggled to sell their flats, and that more than one other accepted offer in the building fell through, both before and during the period when my flat was managed by Flyp. It appeared that some mortgage lenders were hesitant to lend on properties in the building, owing to the ongoing fire safety certification issues which have affected many newish buildings in the country. Mine was (I believe) the first flat sold after the buildings EWS1 B rating was issued, and I think this makes the sale is noteworthy given the circumstances.I credit Flyp with a big role in this. On first glance I thought their fees seemed steep, but they delivered excellent value for money. Their comprehensive service maintained rental income, made the flat more marketable, and secured a committed buyer despite the complex circumstances. They also significantly reduced the stress of managing the property during what was a challenging period of my family life, with a new baby, a house move, and a change of job.I have been delighted with Flyp's work and have recommended them to other leaseholders in the building. I would do the same to anyone else finding it difficult to sell. Their professional handling of both the refurbishment and subsequent management played a crucial role in achieving a successful sale in challenging circumstances.

Date of experience: Nov 22, 2024