Landlords: Are you waiting for Easter?
We regularly speak to landlords who knew they wanted to leave the PRS or downsize after years of rising costs, increasing regulation, tenant problems, maintenance demands and diminishing returns, years before they finally spoke to us.
They wanted out but could never find the right time to leave. We know that’s still true and there are thousands more landlords putting their plans on hold – either waiting for things to improve or get so bad, the decision is made for them.
Some landlords who have held on might be thinking the biggest Renters’ Rights Act changes are already behind them. Unfortunately, they may need to think again.
The next phase begins on 15 December, when the PRS database starts rolling out across England – and 2027 will bring even more changes, including new property income tax rates of 22%, 42% and 47% and Making Tax Digital.
For landlords who have already decided they do not want to be part of the increasingly regulated PRS, that date creates a clear incentive to sell sooner rather than later.
The problem is that time is already running short.
Rightmove says it now takes an average of 216 days to find a buyer and complete a property sale. That means the landlords listing vacant property with a high street agent to sell to owner occupiers today could still be waiting at Easter.
A lot more can change between now and Easter.
With the Autumn budget on October 28th this year and 3 interest rate decisions between now and then it’s no wonder so many landlords are prioritising speed, certainty and convenience. They’re making sure they are protected from future challenges by selling to investors or property-buying companies who can complete faster and will buy with tenants in situ.
Both investors and property-buying companies value properties according to their suitability and potential yield. Where the buyer pool is small and limited to investors, open market value will often give way to yield. However, when a larger pool includes owner-occupiers, increased competition can force yield to give way to open market value.
Landlord Sales Agency offers the perfect solution: a good sales price determined by competition as well as yield, combined with a significantly faster and easier sale – without automatically having to evict your tenants first.
There is still time, but landlords who want to secure the best possible price and complete before the PRS database reaches their area need to act now.
Comprised of a team of the UK property industry’s leaders, we’ve developed a reputation for being the number one solution to go to for landlords looking to sell. We’re able to take entire portfolios off your hands, or sell individually, no matter what the tenant situation is, or the condition of the properties.
Connecting your buy-to-lets with our database of over 30,000 private buyers, a network of nationwide estate agents, local agents, and – if you need even more offers – our own private buying fund.
Our process generates a bidding war to drive up prices to ensure you’re getting the price you want. Most of our properties sell within 21 days.
We’ll also manage the entire sale for you. We know that right now landlords are more stressed than ever before. That’s no problem for us. All you have to do is get in touch, and we’ll manage the entire process for you, including negotiating with tenants, creating video tours of your properties and even funding refurbs to get you higher prices, depending on the property.
On top of that, we have a team of builders who can jump in and help and we’re happy to take on the costs – no problem, we’ll simply make those costs back on the sale.
While landlords still need to be realistic on price – it’s a tough market out there – we’re extremely confident that we can get you what you need to exit the market before the bills start mounting.
When a landlord with a portfolio of 5 tenanted properties that spanned from Staffordshire all the way up to Newcastle Upon Tyne approached us, he wanted to sell up his portfolio fast to get out, but for the best possible price. We promised him exactly that. With a mixture of marketing to our entire network, including investors and first-time buyers, we were able to drive up the prices to ensure he was happy with the sale.
The first property sold in 2 days. 10 days after that 2 more sold. By day 24 the fourth property had sold in Durham, and by day 26 the last and final small property was sold in Lancashire.
The fifth property was sold to a buyer who was so happy with the photos and the video tour we’d got from the tenant, he made an offer without even viewing the property.
The only task the landlord had done throughout the sale was make the decision to contact us to sell. We handled everything else.
It really was that simple. £500,000 made in 26 days with zero hassle, worry or stress.
The landlord was able to sit back and enjoy just over 3 weeks of relaxation knowing he had the best team in the UK solving every single challenge for him.
So get in touch today: we’ve got the team to help you get cash in the bank before Easter. It’s time to cut your losses, and start re-investing elsewhere.