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Former Chainbow owner Roger Southam is returning to the residential rental market with a new company called Cohub.
Southam, who sold his residential property management company Chainbow to Savills in 2016, has partnered with Canadian tech entrepreneur Saveri Kotz as chairman of Cohub, which will charge a combined 6 per cent rent and management fee.
Mr Southam said: “This is exactly what the residential rental market needs. For too long landlords have had to put up with exorbitant rental fees from estate agents, which can be as much as 20 per cent when you take into account tenant finding, management, contract preparation and reference fees.”
Southam said Cohab has developed a new technology platform that will improve operational efficiency and reduce costs.
He continued: “Saveli Kotz’s technology team has developed a leading innovative software platform combined with efficient US-style property viewing technology that has enabled them to drive efficiencies and disrupt the market with an all-in 6% commission.”
Cohab has ambitious expansion plans: the company plans to have over 100 properties in its possession within the next two months, targeting 1,000 units in the first year and 30,000 units in the next two to three years.
“Initially we are working with single-family and multi-family landlords, but our aim is to target larger rental landlords over the next few years,” Southam added.
The idea to start a new agency came about when Kotz relocated his family to the UK from the Bahamas in 2021.
Cotts commented: “I identified a serious gap in London’s letting agency services so, using my experience setting up an online business and successfully selling it, I thought this would be my next venture, where I could drive business efficiencies and disrupt the market with an all-in 6% management and letting fee.”