AP Morgan Lettings Sold to Dwelly: What Landlords Need to Know

If you have received correspondence telling you that your property management arrangements are changing, you are probably looking for a clear explanation of what has happened and what it means for you. AP Morgan’s lettings business has been acquired by Dwelly, a UK property technology company that has grown rapidly by purchasing established letting agencies. The residential sales side of AP Morgan is a separate matter and remains with the founding team. Only the lettings operation has changed hands.

This article explains what the acquisition means in practice, who Dwelly are, and what your options are as a landlord if you would prefer things to stay with an independent local business.

What Has Happened to AP Morgan Lettings?

AP Morgan is a West Midlands estate agency with branches in Redditch, Bromsgrove, Longbridge, Stourbridge and Shirley. Its lettings business has been acquired by Dwelly, with the deal completing in July 2026. The transaction transferred more than 500 fully managed properties to Dwelly’s portfolio.

AP Morgan director Joe Phillips confirmed that the sales business is being retained by the founding team, saying: “Retaining the sales business allows us to focus on what we do best, whilst knowing our landlords, tenants and lettings team are in excellent hands for the future.”

The existing AP Morgan lettings team is expected to remain in place, at least initially. However, the business is now operating within Dwelly’s ownership structure and will be integrated into its platform over time.

Who Are Dwelly?

Dwelly is a London-based property technology company. Its model is to acquire independent letting agencies and integrate them into a centralised, AI-powered management platform. Key functions such as tenant onboarding, rent collection, maintenance coordination and compliance tracking are automated through the platform. The company entered the UK market in September 2024 by acquiring Hull-based Lime Property and has since completed eight acquisitions in 2026 alone.

Dwelly’s scale has grown significantly. The company now manages around 14,000 to 15,000 properties, with a total rent roll of approximately £350 million per year. It has raised $170 million in Series B funding, led by EQT Growth, to finance its UK expansion.

The company’s stated rationale is that automation allows each property manager to handle a much larger portfolio than would be possible in a traditional agency, with Dwelly claiming its managers can handle over 300 units, compared with around 100 in a conventional operation. Whether that translates into better service for individual landlords is a question only experience will answer.

Why Does a Letting Agency Acquisition Matter to You?

When you appointed AP Morgan, you were not simply choosing a company name. You were choosing the people, the local knowledge, the processes and the accountability that came with a specific business. When that business is acquired, several things can change, even if the staff initially remain the same.

Systems change. Processes change. Management structures change. The way maintenance requests are handled, how rent is collected, and who you speak to when something goes wrong may all develop over time as the acquired business is integrated into the acquiring group.

That is not automatically negative. Some landlords will find that a well-resourced technology-led group delivers a more consistent and efficient service. The question is whether the new arrangement reflects what you originally wanted when you chose your letting agent.

It is also worth noting the broader context. The NRLA has long highlighted the importance of landlords reviewing their management agreements regularly, particularly when there is any change in the business responsible for their property. An acquisition is precisely that kind of trigger.

What Should AP Morgan Landlords Do Now?

There is no need to make a rushed decision, but there are some practical steps worth taking promptly.

• Read all correspondence carefully. Dwelly will write to you regarding the transfer. Read it thoroughly rather than filing it away.
• Locate your existing management agreement. Check the notice provisions and any terms that govern what happens if the agency is sold or changes ownership.
• Ask who your day-to-day contact will be. Do not assume your existing property manager will remain your point of contact. Ask directly.
• Confirm whether anything is changing. Fees, maintenance processes, communication channels and compliance procedures may all be subject to review as integration proceeds.
• Decide whether you are comfortable. Once you have the answers, assess whether the new arrangement suits your needs as a landlord.

Can You Change Letting Agents?

In most cases, yes. The process depends on the terms of your management agreement, including any notice period required. One of the most common misconceptions among landlords is that they are somehow locked in because a tenant is already living in the property. That is not generally the case.

Changing managing agent does not normally require the tenancy to end. The tenant stays in the property. The tenancy continues. What changes is the business responsible for managing it on your behalf. The new agent takes over the day-to-day management, with the outgoing agent transferring the relevant documentation and records.

The practicalities of a well-managed transfer typically involve:

• Tenancy documentation and the original tenancy agreement
• Deposit protection information and registration details
• Compliance certificates, including gas safety, electrical installation condition reports and EPC
• Inventory records
• Maintenance history and any outstanding works
• Rent collection records and financial information relevant to the tenancy
• Tenant contact details and communication history

Provided this is handled professionally, the process is usually far more straightforward than landlords expect. For more detail on how the process works when a tenant is already in the property, see our guide on switching letting agents with a tenant in place.

Partridge Homes: An Independent Alternative

Partridge Homes is an independent, family-run estate and letting agency serving Birmingham, Solihull and the wider West Midlands. Our lettings business has not been acquired, merged or rolled into a national group. Our landlords deal with our own team, in our own offices, and know exactly who is responsible for their property.

We use modern technology throughout our lettings operation. But technology at Partridge Homes is there to support the service, not to replace the people delivering it. When something needs resolving, there are experienced team members who take direct responsibility.

For landlords in Birmingham and Solihull who chose AP Morgan specifically because it was a local, independently run business, that distinction matters.

Simply Switch: Moving Your Property Management to Partridge Homes

If you would prefer your property to remain with an independent local letting agent, our Simply Switch service is designed to make the transition as straightforward as possible. Once we understand your existing contractual position, we handle as much of the transfer process as we can, including liaising with the outgoing agent, obtaining tenancy documentation, reviewing compliance paperwork, communicating with your tenant and establishing any ongoing maintenance matters.

The aim is minimal disruption for both you and your tenant.

You chose who managed your property in the first place. If the circumstances around that choice have changed, you are entitled to review it.

Landlord Q&A: AP Morgan, Dwelly and Your Options

Has AP Morgan sold its lettings business? Yes. AP Morgan’s lettings operation has been acquired by Dwelly. The residential sales business is separate and remains with the AP Morgan founding team.

Who bought AP Morgan Lettings? Dwelly, a London-based property technology company that acquires and integrates independent letting agencies.

Is AP Morgan Lettings now Dwelly? The lettings operation has joined the Dwelly group. Landlords should read any correspondence they receive carefully to understand exactly how their individual property will now be managed.

Will I still deal with the same AP Morgan staff? The existing lettings team is expected to remain in place initially. However, as integration into Dwelly’s platform progresses, this is worth confirming directly with the company. Ask the question explicitly and satisfy yourself with the answer.

Do I have to stay with Dwelly? No. Check your management agreement and any notice provisions, then decide whether the new arrangement is right for you. If it is not, you have options.

Can I change managing agent without the tenancy ending? In most cases, yes. The tenant can usually remain in the property while management transfers from one agent to another. See our fuller explanation in our changing letting agents guide.

What happens to my rent if I change letting agents? The rent collection arrangements need to transfer correctly so your tenant knows where to send payments and from what date. A competent incoming agent will coordinate this carefully.

Is a large lettings group necessarily worse for landlords? Not necessarily. A well-resourced operation with strong systems can suit many landlords well. The question is whether it is the type of service you personally want, and whether it matches the reasons you chose your original agent.

What should I do after receiving a letter saying my letting agent has been sold? Read it carefully. Find your management agreement. Ask what has changed. Find out who will actually manage your property day to day. Then decide whether you are happy with the new arrangement. It is your property and your investment.

If your property was previously managed by AP Morgan and you would like to understand your options, the team at Partridge Homes is happy to have a confidential conversation. There is no obligation to move; the first step is simply knowing where you stand. Contact us to speak with a member of our lettings team.