Over the last 6 months, the top UK landlords have been quietly exiting the sector.
Whilst it was thought that this rate might have slowed down as we start to work our way through the red tape and tax bills, the truth is the number of enquiries here at Landlord Sales Agency continue to flood in.
New research by Open Property Group has revealed a third of landlords plan to retire from or exit the buy-to-let market.
A record 26% of landlords sold at least one property in the last 12 months while just 8% of landlords bought. Coupled with the Renters’ Rights Bill, which is continues to create uncertainty throughout the sector before it’s even cemented into law, it makes sense that landlords are selling up and looking to move their investment elsewhere.
It’s why so many landlords are reaching out to us.
Recently a Landlord from County Durham came to us wanting to exit the market due to increasing levels of responsibility, rental reform and the industry becoming more difficult to manage. He’d been in the industry for a while, seen the market change, and wanted someone “remarkable” to take on the sale of his portfolio.
Our team immediately got to work, overcoming every hurdle to get the deals over the line. One of the properties had tenants still in situ – no problem for us – we were able to get the house sold fast, selling in just 23 days from buyer deposit paid to completion, all whilst keeping the tenant on for the new landlord.
For one of the other properties in Doncaster, we worked even faster, throwing everything at it: assisting the tenant in finding alternative accommodation and going the extra mile to provide them with financial assistance. What’s more, we resolved issues regarding Leasehold Solar Panels and a bankrupt company to ensure the mortgage companies were satisfied for lending. We got the property sold in 15 days for the highest price possible.
Both the landlord and the buyers walked away extremely happy with the sale.
We’re doing deals like this every single week for landlords exactly like you.
Put simply: if you’re a landlord looking to sell your properties, there’s no better company out there than us to get the job done. With a dedicated team taking the sale and tenant management completely off your hands, plus even paying for refurbs to get you a higher price in some cases, we deliver the best price, fast.
All our portfolios and properties sell on average in less than 28 days. And if you’re interested in accepting a cash offer for a fraction less, we’ll buy them off you in 7 – 14 days.
Money in the bank: freedom achieved to put it into stable investments.
This month we’ve had a huge influx of first time buyers wanting to buy freehold houses. So if you have some to sell in your portfolios, now’s your chance to get in touch.
Simply chat to us, and we can decide if it’s for you.
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