FIRST HOUSING (MGM) LTD

What FIRST HOUSING (MGM) LTD does

First Housing (MGM) Ltd, trading as Metropolis, is a privately held UK letting and residential property management agency founded in 1998 and headquartered at 3 Topsfield Parade, Crouch End, North London (N8 8PR). The firm serves private landlords and individual residential tenants across a narrow North London catchment centred on Crouch End, Muswell Hill, and the N8 postcode area, providing tenant placement, rent collection, full property management, and a guaranteed rent scheme delivered through partnerships with local authorities. Service fees are structured as commission- and subscription-based: 8% of total contract rent for tenant introduction, with optional 4% rent collection or 12% full management charged monthly in addition, alongside transactional fees for change-of-tenant and out-of-hours services.

The company's technology stack consists of a website-based property management system (fhm-metropolis.com) featuring a property search portal, online enquiry forms, and a customer login portal, supplemented by a native mobile application on the Apple App Store and Google Play. Distribution is primarily direct via the website, phone, email, and walk-in office enquiries, with accompanied viewings provided by staff; listings are additionally syndicated through a Zoopla partnership. The firm holds standard UK letting-agency compliance accreditations including Client Money Protection, Property Redress Scheme membership, MyDeposits tenancy deposit protection, and National Landlord Association membership, and recommends OnCover Insurance Services for landlord building cover.

Commercially, First Housing operates a sales-led, field-based go-to-market targeting SMB/consumer customers in a single regional micro-market. Revenue is generated through a mix of one-off transaction commissions (tenant placement, change-of-tenant fees) and recurring management subscriptions, with no institutional investors, no disclosed funding, and no M&A activity on record. Ownership is described as founder/management-held, with no parent company or subsidiaries disclosed and no public financial reporting available.

Name

FIRST HOUSING (MGM) LTD

Legal name

First Housing Management Ltd

Website

https://fhm-metropolis.com

Company type

Private

Founded year

1998

Operating status

Operating

Short description

First Housing (MGM) Ltd, trading as Metropolis, is a privately held North London lettings and residential property management agency, founded in 1998 in Crouch End, serving private landlords and individual tenants across the N8 catchment with tenant placement, rent collection, and full management services.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Let Only Commission: Tenant introduction service where the company finds and places tenants. Commission is calculated as 8% of total rent over the contract term.
2. Rent Collection: Rent collection service for landlords in addition to lettings commission, charged at 4% of rent collected.
3. Property Management: Full property management service including tenant management, maintenance coordination, inspections, and rent collection. Charged at 12% in addition to lettings commission.
4. Change of Tenant Fee: Fee charged for changes to tenancy agreements during the tenancy period, including change of tenant requests.
5. Guaranteed Rent Scheme: Through partnerships with local authorities, the company offers guaranteed rent schemes for landlords on 1, 2 & 3 bed properties.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

First Housing (MGM) Ltd, trading as Metropolis, provides residential lettings and property management services in North London. The company finds and places tenants for landlords (Let Only service at 8% commission), collects rent (4%), and delivers full property management including inspections, maintenance coordination, and tenant handling (12%). It also offers a guaranteed rent scheme through partnerships with local authorities for 1, 2, and 3 bed properties.

Product overview

First Housing Management Ltd operates under the Metropolis brand as a residential property lettings and management company based in Crouch End, North London. The company offers a unified service portfolio comprising property lettings services, property management for landlords, a customer portal for tenant and landlord access, and a mobile application for iOS and Android. The core offering centers on residential rental property services including tenant placement, rent collection, property inspections, and maintenance coordination. The company also provides ancillary services such as property valuation requests and online enquiry forms.

Differentiator

Problem solved

Functional benefit

Products and services

• Let Only Service Tenant placement service for landlords. The company markets the property, conducts accompanied viewings, performs tenant referencing, and places a vetted tenant under a tenancy agreement. Charged at 8% of total rent over the contract term.
• Rent Collection Service Rent collection service for landlords, charged at 4% of monthly rent collected in addition to the lettings commission. Includes monthly landlord statements and arrears handling.
• Full Property Management Service End-to-end property management service for landlords including tenant management, property inspections, maintenance coordination, rent collection, and end-of-tenancy procedures. Charged at 12% of monthly rent in addition to the lettings commission.
• Guaranteed Rent Scheme Guaranteed rent scheme offered to landlords through partnerships with local authorities for 1, 2, and 3 bed properties. Provides landlords with assured rental income regardless of tenant occupancy.
• Free Property Valuation Request Free online property valuation service allowing prospective landlord clients to request a market valuation for selling or letting purposes, intended to onboard new landlord clients.

Quantifiable outcome

• No Tenancy Arrangement Fee for tenants
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered minor and core.

• ZooplaminorChannel Partner/ Reseller/ DistributorProperty listing portal affiliation. Properties are listed on Zoopla platform to extend reach to property seekers using the Zoopla portal.
• OnCover Insurance Services LtdminorOthersInsurance provider recommended to landlords for building insurance. OnCover Insurance is authorised and regulated by the Financial Conduct Authority.
• Property Redress SchemecoreOthersRegulatory membership providing consumers access to independent dispute resolution through the Property Ombudsman scheme. Three-stage complaints procedure available.
• MyDepositscoreOthersGovernment-accredited tenancy deposit protection scheme ensuring tenant deposits are protected and returned fairly at end of tenancy.

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Foxtons: Major London-focused estate and lettings agency offering property sales, lettings, and management services. Directly competes with First Housing in the North London rental market with similar full-service offerings.
• Chestertons: London-focused estate agency with lettings and property management services. Operates in many of the same North London neighborhoods as First Housing.
• Kinleigh Folkard & Hayward: London-focused estate agency with strong presence in North London including Crouch End and Muswell Hill. Offers directly comparable residential lettings and property management services.
• Ludlow Thompson: Independent London estate and lettings agency operating in North and East London. Competes directly in the same residential lettings and property management market with similar tiered service offerings.

Others

• Zoopla: Major UK property portal that First Housing already partners with for listings. Represents both a channel partner and an indirect competitive threat as Zoopla expands into ancillary services.

Emerging players

• OpenRent: Online-first lettings platform that has disrupted the traditional agency model by offering lower-cost tenant placement and management services. Represents a competitive threat to traditional agencies like First Housing.
• Purplebricks: Hybrid online estate and lettings agency offering lower fixed fees compared to traditional high-street agents. Competes on price for landlord services in the same London market.

Broad incumbents

• Belvoir: UK-wide franchise lettings and property management network. Operates nationally with a franchise model, providing broader geographic reach than First Housing's single office.
• Your Move: Large national UK estate and lettings agency with extensive branch network. Provides full residential lettings and property management services competing for landlords across London.
• Hamptons: Premium London-focused estate agency offering lettings and property management. Competes for higher-end landlords in overlapping North London postcodes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FIRST HOUSING (MGM) LTD