How it works
Everything that needs doing happens on our side, before the lease begins.
The FRI lease model
At the heart of what we do is a Full Repairing and Insuring (FRI) lease. Under this arrangement:
- Bailey&Co. Assets sources, funds and refurbishes the property
- The Registered Provider takes the property on a long-term lease
- The RP manages the tenancy, all repairs, maintenance, buildings insurance and compliance
- Bailey&Co. Assets receives a fixed rent and retains the freehold or headlease
- No capital is required from the RP at any stage
The BRRR process — step by step
1
Buy
We identify and acquire residential properties below market value in our target cities: Derby, Nottingham, Wolverhampton, Doncaster, Preston and Sheffield.
2
Refurbish
We carry out all necessary works to bring the property to full compliance — electrical certification, gas safety, EPC, fire safety, and any structural or cosmetic work required.
3
Refinance
Once the property is refurbished and its value has increased, we refinance at up to 75–80% loan-to-value. This recycles the capital used to acquire and refurbish the property.
4
Rent
We lease the completed, certified property to a Registered Provider on FRI terms. The RP places tenants immediately — the property is ready from day one.
What this means for Registered Providers
| Item | Detail |
|---|---|
| Capital required from RP | None — purchase, legal and refurbishment all carried by Bailey&Co. Assets |
| Condition at handover | Fully refurbished and certified — tenants can move in immediately |
| Typical lease length | 5–10 years |
| RP’s ongoing obligations | Tenancy management, repairs, maintenance, buildings insurance, compliance |
| B&C Assets’ ongoing obligations | Fixed rent receipt; freehold or headlease retention |
| Geography | Derby, Nottingham, Wolverhampton, Doncaster, Preston, Sheffield |