My Property Box Tyne & Wear has extended its all-inclusive rent deal.
The Newcastle-based agency, which deals with a significant number of student lets as part of an extensive portfolio covering Tyneside, Wearside, Northumberland, and north Durham, says the move follows concerns over rising utility bills.
In response to feedback, the business – which recently rebranded following My Property Box’s acquisition of Jesmond-based Acorn Properties and Groves – introduced the initiative to support students to better plan their finances by combining rent and utility bills into one simple monthly payment. Due to its success, the option is now being extended to all its tenants.
County Durham-based My Property Box acquired estate agent Groves in December 2021, followed by Acorn Properties in 2022.
The estate agency group has now refurbished and rebranded their two Jesmond offices, moving the sales and lettings team into Groves’ Acorn Road building, while the property management and finance team now occupies the former Acorn Properties building in St George’s Terrace.
My Property Box Tyne and Wear, which has a staff of 20, has plans to expand thanks to its strong and growing market position following the merging of portfolios.
Marie Wilmot, senior branch manager of My Property Box Tyne & Wear, said: “We trialled an all-inclusive payment package for our student tenants in response to the cost-of-living increases, recognising many would be living away from home for the first time. It allows them to combine their payments which makes it easier to budget.
“We are now extending this to all tenants. It’s an increasingly popular option, which also enables our landlords to let their properties more quickly.
“Groves and Acorn Properties have also been unified under the banner of My Property Box Tyne & Wear, which has also seen both work spaces refurbished. In addition, the buildings provide scope for future expansion as the business takes a greater share of the sales and lettings market.”
Ben Quaintrell, the founder and managing director of My Property Box, added: “The acquisitions have delivered an excellent portfolio of properties, together with the valuable local knowledge of the staff.
“Within that, My Property Box has also gained extensive expertise within the student lettings market, and as a result we have built on that through the introduction of our monthly budgeting deal, which is already proving very popular in other regions, including London.”
