Accidental and single-property landlords are poised to offload up to 150,000 properties onto the market within the next two years, says the boss of lettings platform MakeUrMove.

MD Alexandra Morris (pictured, above) predicts that those who didn’t choose to enter the sector will be the first people to jump ship if the opportunity comes up.

But Morris says this won’t create an imbalance within the market as short-let Airbnb properties returning, in particular, will fill the gap along with new-build investment properties.

She tells LandlordZONE that this ‘professionalisation’ of the sector  is good for tenants, who will get a better landlord, typically with good tradespeople contacts for speedier repairs and a handle on keeping up with new regulations.

- Advertisement -

MakeUrMove was the first online letting agent and picked up 920 new clients over the last two years, with most of them – reflecting the overall market – independent landlords owning between one and five properties.

They’re happy to let the firm handle lettings online, such as answering enquiries, arranging and recording viewings and producing compliant tenancy documents. The proptech also arranges property management and rent collection.

Although the majority are 45-55, many older, retired landlords are comfortable using the technology, something Morris expects to grow.

“We won’t see the death of the high street agent as some landlords prefer them, but there’s definitely a move online as that’s how people find agents,” she predicts.

A landlord herself, who’s shortly to take on another four properties, Morris believes the biggest challenge over the next 12 months is rent arrears, particularly as the furlough scheme ends.

She adds: “We hope that landlords have a dialogue with tenants who, if they can afford it, could then decide to let them out of the contract. We won’t be losing these tenants from the market, just moving them through it.”

6 COMMENTS

  1. I think research showed small time – ie 4-10 property landlords gave best personal service to tenants – l know I’ve visited a house (100 miles from my home) with some minor repair issues ( not security – not water leaks or heating ) 7 times in last 6 months with 5 trade visits costing 1/3 of rent profits- in period one and all in 48 hours from report – when this – priory service is seen as a amateur attempt – I’d like to see it matched by big boys

    • She is also madly out of touch, suggesting Airbnb rentals will be returning to long lets. Dream on! I’d suggest it’s a one-way street for most decent landlords now – either to the exit door when current tenants move on or can be evicted, or to short-term AirBnb rentals.
      I was a landlord in London for over ten years – one flat only, never had problem tenants, no rent arrears and I treated those tenants like kings and queens. All repairs carried ouit immediately and good-will refunds if ever they were ever inconvenienced for any reason. I valued my tenants – always charging them 10-20% below going market rate – and they valued me. It is this kind of landlord that will be leaving the market and lacking the one-to-one relationship will be the detriment of tenants.
      The government hasn’t thought through the longterm consequences of the current anti-landlord legislation – effectively using private landlords as an unpaid branch of the welfare state – and even when the eviction ban lifts, the court system isn’t fit for purpose or is deliberately stalling so as not to make people homeless. So, end result = less rental stock on the market & bigger pressure on local housing services having to find homes for people who have poor credit rating and no landlord reference if they have exploited Covid in order to get free living accomodation for a year or more.

  2. How condescending! My tenants all value being able to contact me directly if they need anything. This lady is coming across as a vulture whose comments are driven by a vested interest.

  3. Agree 100% with David and John; my experience as tenant and landlord is that landlords with fewer properties are far more interested in the property and the tenants than bigger landlords who often see the property as ‘stock’ and the tenant as a cash cow. We have three properties and like David, we move fast to get stuff fixed; when a tenant moves in we make personal contact and remove or provide odd bits of furniture according to their needs. We see providing an excellent place to live as an ethical obligation AND good business.
    And as for the view that being over 55 somehow makes you resistant to technology – wake up! The internet has been with us and used by us for over 20 years. We are still able to hit keys, wiggle a mouse and also know when someone, such as many but not all lettings agents, are trying to rip us off!
    The fact that we let (actually require) the agent to handle a range of things such as answering queries and viewings, is because that is what we blooming well pay them to do.

  4. One other point: I very much hope the Housing Minister is reading these comments as anyone with a half a brain – or who took the time to look at it from the small, private landlord’s point of view – won’t need a crystal ball to see what is coming down the line.

  5. You do all realise that the Govt doesn’t give a jot about you LL.

    You must realise by now that Govt seeks by any means to get rid of private LL.

    Do all these ridiculous policies are designed expressly to continually screw the LL to make them sell up.

    It is pointless coming out with righteous indignation.
    The Govt simply doesn’t care what LL say.

    It is of course all manifestly unfair.
    But Govt won’t lose any votes while it continues to bash the LL.

    It really ISN’T worth being an AST LL anymore unless you can get RGI on the tenant or a guarantor.
    Very few LL ever achieve this.

LEAVE A REPLY

Please enter your comment!
Please enter your name here