10:09 AM, 10th June 2024, About 6 months ago
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After a week of bad news for landlords, with the Telegraph reporting the story of banks repossessing all 57 homes from a landlord who lost £25M in assets, plus the pending worry of what a Labour government might have to rent reforms, Section 21, and rights for tenants, finally there’s welcome news.
As we enter into June, the demand for buyers wanting to purchase portfolios or take properties off the hands of landlords wanting to sell has reached fever pitch.
The spike in buyers comes in part due to the fact that new landlords with fresh investment are keen to snap up ready-made portfolios, without having to assemble them from scratch. This has worked hugely in favour of older landlords who are looking to get out of the sector, pay off tax or mortgages and reinvest their finances elsewhere.
At Landlord Sales Agency, one of the top UK portfolio exit companies who connect landlords to these buyers, we’ve seen a rush of landlords coming to us to sell following the increased interest.
We’ve built strong relationships with both private buyers and the top companies buying whole portfolios and right now buyers are keen to snap up deals whilst the market is relatively stable. Be it whole portfolios, or part portfolios, it’s generating a bidding war that’s pushing up prices, which is why we’re selling landlords’ portfolios fast for the best possible prices. It means that landlords can finally exit the market in a way which allows them to financially thrive. Given the situation over the last year, it’s fantastic news.
Landlord Sales Agency are just one of several companies helping landlords to sell, yet what sets us apart is that we’ve managed to lead the way in terms of the price we’re able to get landlords.
Landlords are coming to us with whole portfolios that they want to sell, or a chunk of several properties. There’s been a huge variation in the conditions of the properties being handed over to us to sell, but it doesn’t seem to be stopping our agents from getting the top prices. I think we’ve hit a window where landlords want to clear their debts fast, and buyers want to get as many properties as they can before the market changes. We’ve definitely hit a sweet spot.
The formula seems to be working, with an average sale time of just 21 days, sales going ahead without the need for tenant evictions, and a growing private buying database of 30,000 private buyers and cash advances in some cases where landlords need to do quick refurbs to get even higher prices.
This is exactly what happened for a landlord with a block of 4 flats in East Dulwich. Like many landlords, he’d had enough, and with some of the flats needing refurbs and the remainder paying lower rents, plus a lack of planning and tenancy documents, he wanted to sell up and get out.
Landlord Sales Agency knew exactly what to do, and delivered. Our team of experts resolved every single issue, liaised with tenants, marketed the flats to our network of over 30,000 private buyers and reached out to both investors and the very best and fastest local agents. Every single issue on the property was resolved by our team of both experts and builders, working around the clock to get the job done.
In just 4 weeks we had sold the entire block for £1.15M through our partner London agent.
For another landlord who contacted us from the Midlands, we did the exact same thing. She had a mixed portfolio and needed to sell to avoid being pushed into further financial difficulty.
With the increased buyer demand, and our network of growing buyers flocking to us for deals, we were able to generate a bidding war which sky-rocketed the prices of her properties.
We were able to sell the properties in her portfolio for an average of 39% above her original listing prices.
This isn’t a one-off case, 150 landlords per fortnight are rushing to Landlord Sales Agency to sell.
We manage the whole property-portfolio sale from start to finish to get properties sold and win-wins for tenants/landlords and we will help tenants and landlords financially if needed. Landlords just need to contact us. Our team of experts sorts out everything else. We’re getting properties sold fast, for high prices and we’re seeing landlords finally being able to get out of the market. If you don’t like the prices you get, you don’t have to sell, so there’s no reason not to get in touch and let us help you. I think that’s why so many landlords are coming to us. And we’re delivering.
So if you’re thinking of selling, now is the time.
Get in touch with Landlord Sales Agency today, and let us handle the rest. We’re here to help.
