Rotch Property Group has formed Interactive Property Management, a management company for homebuyers.
It follows Rotchs announcement last week that it has joined forces with US real estate and hotel giant Cendant Corporation, creating a residential operation in the UK.
The commercial investment company, run by the Tchenguiz brothers, will use Cendants technology, rebranded under the Rotch name, to provide services to purchasers such as financial advice and reduced-cost electricity. It will continue to work with estate agencies and provide training on the new product.
Rotch will also adopt facilities from Cendants subsidiary, the ERA global estate agency network.
Rotch chairman Vincent Tchenguiz said: “This will give us a new entry into the residential estate agency market. The link-up with Cendant gives us the opportunity to create a more streamlined, more comprehensive product model.”
Interactive Property Management will also offer services to corporate clients, while Rotch will have the opportunity to enter the hotel sector.
The ERA network includes more than 2,600 independently owned and operated brokerage offices with more than 28,000 brokers and agents located throughout the US and 25 other countries.
Rotch entered the residential mortgage market in 1995 with a securitisation vehicle. Earlier this month, Cendant subsidiary Move.com was bought by residential website, Homestore.com.
EGi News 16/11/00
