The rental brand Nestin Rent became Scandium Living and expands to 2,000 apartments.
Nestin Rent, the first administrator and developer of complete rental houses in Estonia and one of the largest rental portfolios, is now called Scandium Living. The company, which previously managed apartments and rental houses mainly owned by Scandium Kinnisvara, expanded its operations and now offers rent management services to other large property owners. Over the next three years, the portfolio is expected to expand to 2,000 rental apartments.
In 2021, Scandium Living’s portfolio, which specializes in resident-focused asset management, had 105 apartments in four different properties. The company’s goal is to increase the portfolio rapidly, taking over volumnious rental portfolios of real estate investors who are looking for increased profitability, personal approach and proper property management.
Ildiko Siimon, service manager at Scandium Living: “We have shown great results despite of Covid – the houses show high occupancy, excellent residents’ satisfaction and positive investor feedback. In 2021, we invested heavily in automation, team expansion and systems development, so we are ready to expand our portfolio significantly.”
The name change from Nestin Rent to Scandium Living was carried out with a clear vision. “Our goal is to grow into a well-known rental brand across Europe. As Scandium Kinnisvara AS, which belongs to the joint Scandium Group with us, is also actively looking outside Estonia and there is an active sharing of competencies between the teams, it is reasonable to take this step together, ”explained Siimon. “Thanks to Scandium Kinnisvara’s experience in developing excellent rental homes based on tenant feedback, we can also offer this competence to our rental investors – from finding suitable plots to offering rental construction management and asset management services. Our team has extensive experience in developing, launching and managing accommodation services, and from now on we will also offer this know-how to our new partners. ”
