1) As Head of Property Management what trends are you currently experiencing with the properties that you manage?
From 2008 many landlords came to the Private Rental Sector because they had no choice when the sales market crashed and they needed to move. Renting out their home in order to move on became commonplace and now that the market is improving, many of those Landlords are considering getting out of the market. It has been imperative for us to offer an exceptional management service, taking away any risk or stress so that ‘Accidental Landlords’ are happy to make their investment property a long term commitment.
2) What would it mean to the private rental sector as a whole if Accidental Landlords leave the market?
This would be disastrous to an economy where there are just not enough rental properties for waiting tenants, and any further reduction in stock would be intolerable. If these Accidental Landlords NEED to sell, it is imperative to try and sell with a tenant in situ, to another investor landlord, to maintain the current stock levels.
There are some great properties to be picked up with tenancies already in place, no need to worry about void periods, or the rental price you will achieve, this has already been done for you. You can buy an investment property knowing the history of the tenant, rent payments and previous inspections, reducing any doubts you may have.
3) What advice would you give to investors looking to purchase at the moment?
Make sure that you do some full research and weigh up all of the costs involved. Sewell & Gardner would be delighted to help you with this, we can look at the entire local market and advise on the best properties to look at, not just those on our books, we are more than happy to take a look at everything available and advise accordingly.
2 bedroom / 2 bathroom modern apartments are great investments, but they carry annual charges for ground & service facilities, so freehold properties should also be considered. If you are thinking of investing in this area, we have an Investor Landlord booklet available and will happily book a time to sit with you and go through all of your requirements.
Head of Property Management