Stenprop, via the industrials.co.uk platform, is revolutionising the MLI space to provide an enhanced customer experience and income.

There is substantial ongoing leasing activity across our business with our SME focused customer base. Being small businesses, the majority of our customers require flexibility in their occupational needs, but the industry rarely caters for anything less than a 3-5 year commitment. We believe there is an opportunity to streamline the process through our smart leasing model addressing:

  • Friction costs associated with the traditional leasing process
  • Transfer of risk from the tenant to the landlord who is better placed to price this risk
  • Enabling our customers to choose terms and a price point which suits them, whilst adequately rewarding us for the additional risk.

Smart leasing model

Our revolutionary 3-page Smart lease will enable us to enhance income and occupancy levels from our MLI portfolio through offering:

  • Flexible lease terms – tenants choose their lease term (6 weeks to 6 years) and flexibility required
  • Short form standard lease contract – a 3-page, plain English, easy to understand lease, which can be agreed without negotiation or representation significantly speeding up the time and transparency in the leasing process
  • No dilapidations – reduce risk, and hence increase rents, by retaining the repairing liability at the end of the lease. Utilise our platform and economies of scale to discharge these liabilities for significantly lower cost
  • Automated process – a more efficient and streamlined leasing process through the development of our “customer portal” where they can view, customise and sign their new lease or renew their existing lease.

Key Benefits

Customers/tenants:

  • Ability to customise lease terms in line with business needs
  • Speed of execution and occupation
  • Lower transaction costs
  • No hidden costs
  • Focus on what they are good at, not maintaining business premises

Stenprop:

  • Higher occupancy through improved customer satisfaction and retention
  • Shorter void periods due to faster leasing process
  • Lower transaction costs
  • Ability to enhance income through offering additional services
  • Quicker turnaround of vacant units, leading to lower voids