A recent survey of landlords by Shawbrook Bank Services found that 33% of landlords expected to expand their portfolio over the next 12 months.
Of those, 14% say they aim to buy more properties than they had initially planned, showing trust in the market moving forwards. The rental market has been incredibly buoyant over the last 8 months. This is mainly down to the fact that there are less properties in the market for rental. Therefore, this would seem to be an optimum time to take up the slack left by others.
For those landlords that are looking to expand, we have seen an increase in requests for 3 bedroom properties. When asked why, our landlords have told us that they see 3 bed homes as being more flexible. 3 bedrooms give flexibility to create a home office space and are more likely to attract families, who tend to have longer tenancies.
It is still possible to achieve a return of 5% – 5.5% but you really do need to understand what your customer (your tenant) is looking for. For more in depth information on the subject of giving your tenant what they want, click here.
As you know, we do not sell properties, but mainly act as an introducer when one landlord wishes to sell a property with a tenant in situ. This is a benefit to the landlord who wishes to sell (no fees) and to the landlord that wishes to buy (immediate income on the day of completion)
Interested in buying a property with a tenant in situ?
Just send us an email to [email protected] and we will add you to our system and contact you when a property comes up.