Corum, the upmarket Glasgow-based estate agency, has revealed details of its move into the property lettings market with the launch of a new business.

Domus Letting is led by industry veteran David Dyer, who has brought a portfolio he managed under his previous business, Thistle Property, into the Corum fold.

Corum said the new venture seeks to build on the successful model that has “defined” its 21-year history, and focus on “providing an unparalleled level of customer service and professionalism, setting a new standard in the property lettings industry”.

“Our core values aligned very well with the way my agency was set up," said Mr Dyer in an exclusive interview with The Herald.

“I had seen Corum over the last five years of building my business up and I approached them… really with the fact they were very aligned with my core values of quality and really high service values.”

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Mr Dyer added: “The portfolio of properties came across [from Thistle] to start us out and we have created Domus as a separate entity.”

Asked why Corum felt the time was right to move into the lettings market, Mr Dyer replied: “For them, it was about finding the right person to lead their drive into lettings. The team at Corum… put their faith in me and they saw something that was very similar to the way they work.

“The resources and the knowledge that Corum have are incredible and their understanding of the selling sector – coupled with my enthusiasm and drive – was the perfect combination to create what we are hoping to be a very successful company moving forward.”

Domnus launches at a controversial time for the lettings market arising from the Scottish Government’s proposed rent controls, included in the Housing (Scotland) Bill currently making its way through the Scottish Parliament, which industry figures say will hamper investment in the build-to-rent sector in Scotland. However, the prospect of tighter controls has been welcomed by tenants' groups as rents continue to rise across Scotland.

Asked if he has seen any build-to-rent projects being cancelled because of the Scottish Government’s proposed rent controls, Mr Dyer said the market is “a little bit muted” at present.

“It is very favourable for student build-to-rents at the moment, less so I would say for the normal build-to-rent method of people who might just be renting them," he said. "There seems to be quite a good appetite for ones that cater primarily for students.

“I dealt a lot with the build-to-rent team in Manchester. That was when George Osborne announced the Northern Powerhouse, so there was a big appetite there. But I think there will be ability for that to continue to grow in Glasgow.”

Although Mr Dyer acknowledged that there are “some challenges” ahead, he declared that the lettings market “looks very good, especially on the new-build side of things, which is one area we are going to be quite focused on”.

“Corum have also got a great reputation for that, and solutions for developers,” Mr Dyer added. “Now with Domus we can obviously strengthen that by providing investment packs and exit strategies for them.

“The market is made up of accidental landlords. There are still a lot of those out there. There have been a lot of challenges with rent controls in the past, but if anything it has driven rents up, really.

“I read the other day that in Q2 of 2024, rents were up 11.7% annually, and Rightmove released statistics earlier on this year that showed Scotland had three of the top cities [and towns] in the whole of the UK for investing and maximising their yields, Glasgow being one, Paisley and Dundee being the others.

“There is definitely a drive there and with the new [UK] Government and their emphasis on being able to build new homes in the future, it gives us some pretty good opportunities for investors as well as people who go on to purchase and the possibility of renting their own houses out.”

Domus will broadly operate in the same geographical “patch” as Corum, which is traditionally strong in Glasgow, including the west end and suburbs of Newton Mearns, Giffnock, and Bearsden, and the Ayrshire coast.

Mr Dyer said the University of Glasgow is a good source of business for lettings and notes the market is also driven by people looking to move into school catchment areas, highlighting Jordanhill as a “prime” example.

Domus currently has two full-time members of staff and Mr Dyer envisages adding to the team as the business grows.

Noting that Domus will favour “quality over quantity”, he said it will look for experienced people who “share the same values… and put quality at the forefront of everything we do”.

“The lettings market has its flaws, but that is something we are seeking to address," he said. "There are no gimmicks in what we are offering – it is purely about delivering exceptional service, a nurturing environment for our clients, and consistently being on the ball with things with landlords.”

Mr Dyer added: “It is very much a personal service that we are going to be offering. Engaging with clients and having a real honest dialogue is going to be key to success for all parties. The standard of communication makes all the difference in business; it is all built around relationships.”

John Kelly, managing partner of Corum Property, said: "Corum has seen over two decades of success, built on our unwavering commitment to quality and personalised service. It’s only fitting that we bring these same values to the lettings market with the launch of Domus.

"Our goal is to replicate Corum's premium service ethos within Domus, focusing on quality of delivery rather than volume. We believe this approach will set Domus apart in the market and ensure a first-class experience for both landlords and tenants."