9:29 AM, 30th January 2025, About 11 hours ago
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News last week on Property118 about amendments in the Renters’ Rights Bill, which could allow tenants to move in without paying rent sent a shiver down every landlord’s spine.
The new amendment prevents landlords from accepting rent in advance of a tenancy agreement or more than a month’s rent in advance.
Advance rent agreements offer security to landlords who entrust tenants with properties worth hundreds of thousands of pounds. They prevent tenants without a guarantor from paying one month’s rent and living rent-free for as long as it takes to evict them under Section 8 (currently estimated at 9 –12 months).
They make students, whose grants are paid per term, a safer choice for landlords. Tenants wishing to pay upfront to secure tenancy will lose their advantage. These and any group of people who might be perceived as risk will be the losers in a market where landlords can choose a safer option.
It will offer little benefit to tenants with good credit checks and guarantors.
And the winners? Hostile tenants with less to lose.
Banning rent in advance, the abolition of Section 21, and other measures designed to weaken landlord protections — it’s no wonder so many landlords are leaving the sector, especially those who do not have a capital reserve to withstand periods of no rent if tenant relations turn bad.
Many more landlords are expected to sell all or parts of their business before The Renters’ Rights bill become law in the summer – either to invest their money in safer investments or to raise a capital reserve to protect their best performing properties.
Landlords who want to sell some or all of their properties that are currently tenanted, before The Renters’ Rights Bill becomes law, are running out of time. With Landlord Sales Agency, our team is here to help if you’re considering selling and can take all the hassle away.
We help landlords sell buy-to-let properties fast and without extended VOID periods. We either sell property to other landlords with tenants in situ or we help tenants to relocate just before the sale completes.
We did just that for one landlord, Farouk, who, with the combination of Section 24 and more legislation on the way, was struggling to make a profit.
After being unable to sell his buy-to-let properties for 2 over years via high street estate agents, Farouk turned to us. We sold five of his properties in only three weeks with a hassle-free seamless process and he continued to receive rent right up to the sale completion.
We can do the same for you, if you are thinking of selling no matter how many houses you have, or in what condition, we’ll take them all off your hands, and get you the highest price for your portfolios in less than 28 days.
You may want to keep hold of your best-performing properties and sell them individually, or perhaps you’re simply fed up and want out of the market.
No matter the reason, we can sell entire property portfolios or partial portfolios in bulk for speed and convenience, or sell properties individually to secure the best price.
We never compromise on the sale price no matter how much work your portfolio needs. We typically achieve a Goldilocks 85 – 90% of the market value, and for that we cover all the costs and take away all the hassle that comes with selling the portfolio.
We have an extensive private database of over 30,000 buyers who will buy your properties with or without tenants and get text messages to alert them to new properties every time a landlord comes to us to sell.
This dramatically cuts down the time it takes to sell, plus means that you can continue collecting rent all the way up until the actual sale.
You won’t get a higher price for the service, and any company promising you 100% market value is hiding a huge list of costs that are going to come after the sale. That’s not the case with us. It’s what makes us different.
For many landlords, it’s now just too much risk to stay in the private rented sector.
It’s time to prioritise your financial security and get some cash in the bank without having to worry about the looming Renters’ Rights Bill or more legislation to hurt landlords.
Don’t wait before it’s too late, contact Landlord Sales Agency for a free-no obligation chat and let us help you take the stress out of selling.
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