Property118 landlord overjoyed selling tenanted portfolio with National Residential for half a million in just 26 days

Property118 landlord overjoyed selling tenanted portfolio with National Residential for half a million in just 26 days

18:45 PM, 26th February 2021, About 9 months ago 18

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Half a million pounds from the comfort of your sofa in just under 26 days. For a Property118 landlord from Wandsworth that’s exactly how he celebrated his week.

If you’re a landlord, and you haven’t yet heard of us here at National Residential, you’ll definitely want to. Established in 2006, we pride ourselves on our “any problem we can fix” formula, led by myself, founder and industry expert, David Coughlin. It’s that experience, combined with the fact that I’m a private landlord myself, which has allowed us to become the best at helping landlords sell.

If you’re looking to sell your buy-to-lets, were the team to do it. We use a modern auction strategy that combines the best prices of estate agents with the speed of auctions. Along with our bespoke problem-solving, it’s what makes our modern auction unbeatable compared to any other company. No matter what the obstacle, our team’s expert knowledge and experience has allowed us to find that sweet spot for both the landlord and the tenants.

How we did it for a Property118 Landlord in 26 days

Earlier in the month, a landlord approached us with a portfolio of 5 tenanted properties that spanned from Staffordshire all the way up to Newcastle Upon Tyne. He’d read about us here and wanted to see if we really could deliver what we say, especially because selling tenanted properties is often a challenge. Like many landlords who have been approaching us recently, he wanted to sell up his portfolio fast, but also for the best possible price.

We promised him exactly that. The highest price for his buy-to-lets, no matter what hurdles needed to be overcome.

1.First, we marketed the properties to both landlords and to first-time buyers in order to get as many buyers as possible in competition with each other to drive up the price through our 28-day auction. Rather than just targeting other landlords who want to buy, we know how to negotiate with tenants to leave for first-time buyers to move in, which also means this added competition leads to investors paying a little more than otherwise.

2.To keep the tenants on board to do the viewings, and so we could market the properties to their maximum, we paid them to help us with getting photos and video tours and to allow us access for viewings. It cost us less than £200 to get the all the materials we needed, and the money ensured the cooperation of the tenants. No other agents will pay this and landlords are unlikely to propose this, which is why we get access to sell properties quickly and for the best prices, like we did in this case.

3.Of the 5 tenanted properties, three were sold to other landlords, and we assisted the tenants of the other two properties to move out by helping them financially at no extra cost to the landlord. We paid for it out of our agency fee. The first property sold in 2 days. 10 days after that 2 more sold.

4.By day 24 the fourth property had sold in Durham, and by day 26 the last and final 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.

All the properties sold via our online modern auction with the additional help of our team going the extra mile to keep tenants onside throughout and to get the very best price for the landlord and win-win solution for the tenants.

The only task the landlord had done throughout the sale was make the decision to contact us to sell. We handled everything else.

“All the staff have been amazing. The head of sales and David have been brilliant, I’m really pleased with the sales and the prices. I’d recommend them to everyone. They’re fantastic.” Property 118 Landlord, Wandsworth

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.

It’s clear our solutions are working, with well-known trusted figures such as Paul Shamplina joining forces with myself, and the expert panel at National Residential, in a recent webinar https://www.landlordzone.co.uk/news/mydeposits-to-run-the-great-tax-debate-webinar/

No matter what issues arise, we really do overcome every single obstacle to get your properties sold for the best prices. We’ve done it time and time again.

Why right now the best time to sell your property portfolios

There’s never been a better time to sell your property portfolios than right now. House prices have been predicted to fall following the end of the stamp duty holiday in June, so now is the perfect window to release the cash in your portfolios and sell up. We’re the team for the job, a team you can trust, who’ll get it done quickly, for the highest price.

Is Covid really a problem for Landlords trying to sell?

Despite what you may have heard or experienced, the answer is no, it doesn’t have to be. During Covid we’ve decided to go all-out to help landlords who are hit by section 24 taxes, by the pandemic, and by the evictions ban – as we have investors who want to get into the buy-to-let market, so we’re acting as a consultancy/sales machine in the middle.

We do a far better job at getting the best prices for tenanted properties and getting deals over the line than traditional estate agents do. We hand-hold tenants whose landlords are selling up, and we also have national reach unlike most local agents helping landlords sell their portfolios in different locations.  Not only that we have landlords who will buy properties where tenants totally refuse to cooperate and allow access for viewings or surveys. We have even sold properties recently for amazing prices where the tenants are not paying the rent.

You only have to read our reviews on Google and Trustpilot to see that we’re a company that absolutely delivers what we say.

So if you’re a Landlord who wants to sell their property portfolio, get in touch, and see for yourself what we can do for you.

National Residential can be contacted by filling out the form below.

Contact Landlord Sales Agency



Comments

by NW Landlord

18:56 PM, 2nd March 2021, About 9 months ago

What sort of percent of market value are you achieving or is it based on yield ?

by David Coughlin

8:00 AM, 3rd March 2021, About 9 months ago

Reply to the comment left by NW Landlord at 02/03/2021 - 18:56
Hi, this really depends on the property but as a rule: where estate agents are listing properties at say £160,000 but are in fact selling for £150,000 in 3-6 months, we are achieving £140-145K in 28 days. We achieve on average 95% estate agent prices. Some HMO's of high standard we well for higher prices than Bricks and Mortar valuations based on yield - but that really depends on the condition and rental income being really very good. Happy to discuss anytime - hope that helps - David

by David Coughlin

8:08 AM, 3rd March 2021, About 9 months ago

Reply to the comment left by Mick Roberts at 02/03/2021 - 09:52
Hi Mick, yes all those costs you mention quickly add. However, some professional landlords are really in control of their portfolios and have great tenants who keep paying rents and agree to leave with standard notice and they also have the builders/resources to take their time and refurbish and sell when empty for top price.

However, times have changed for most landlords. Tenants do not play ball unless you really win them over and selling with tenants is too challenging for many landlords. We go all out to get tenanted properties sold for best prices and completed fast. Saves costs and stressful headaches for most landlords for sure.

by Investor

7:39 AM, 6th March 2021, About 9 months ago

I did invite a sale or auction of a property valued by 2 independent london mainstream agents @ £1.6 m and was offered £600k by NR.

Hardly worth the effort .

by David Coughlin

12:49 PM, 6th March 2021, About 9 months ago

Reply to the comment left by Investor at 06/03/2021 - 07:39
Hi "Investor" - that doesn't seem right at all. Can you please email details to me personally - david.coughlin@national-residential.co.uk so I can look into this for you. We run a modern auction and we set Reserve Prices that are keener than estate agency valuations to sell quickler- but not usually around 90% market value - not 60%? so I want to check this out for you asap. Thanks, David

by Ian Clapham

17:11 PM, 30th June 2021, About 5 months ago

I did my appraisal work on a property being auctioned by National Residential and called them yesterday with some questions, ahead of auction closing today. Receptionist took my number but no one called back. Same today when I rang. Less than 2 hours to the hammer now and I dont have the information I need to bid. Very different from another auction house that has been keen to update me on properties closing. I know which I would choose if I were selling.

by David Coughlin

9:04 AM, 1st July 2021, About 5 months ago

Reply to the comment left by Ian Clapham at 30/06/2021 - 17:11
Hi Ian - apologies for the delay but our sales team were out of the office on a training day yesterday and all calls were answered by Miss Moneypenny who are our call answering service. One of the team will give you a call this mornng. If I can help in any way, please drop me a direct main.

Thanks, David

by David Coughlin

9:07 AM, 1st July 2021, About 5 months ago

Reply to the comment left by Ian Clapham at 30/06/2021 - 17:11
I cannot find your lead record Ian - did you complete a form online as we do not have your details in our CRM system? Can you email myself: david.coughlin@national-residential.co.uk and I can get it resolved this morning. Thanks


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