How To Downsize Your Property Portfolio

Mark ShiptonLandlord news, Property market news

According to media coverage at the end of last year, buy-to-let landlords sold 35,000 more properties than they bought over 2022.  This trend has continued in Q1 so far.

There are, of course, several reasons why the buy-to-let market is less attractive than it has been. These include the combined impact of recent increases in mortgage costs, tax changes, the upcoming Renters’ Reform Bill and changes due to the Energy Performance Certificate requirements.  But does less attractive mean selling up now, or should you be weathering the landlord storm and making a decision later on this year?

Should I be downsizing?

If you’ve been reading this coverage and are a buy-to-let landlord, you may wonder if and how you should downsize your portfolio.  Before making any decisions, it’s wise to talk to us and explore all your options based on your circumstances.

If you decide to sell, we’re well-placed to help you.

If you decide to sell, we’re in the perfect position to sell on your investment.  That’s because we can market your rental property to a database of investors within our many developments.

These investors – your potential buyers –  may already own and successfully let property within your development or a nearby property.  They may also be very interested in purchasing with a tenant in residence, so they have a rental income from day one of ownership which may help them get a mortgage. This also means that you don’t need to evict the tenant or spend time and money preparing for the property to be sold to the general public. 

We’ve had lots of success selling properties this way, so please get in touch with us and ask for our advice.

One final point: don’t sell your property at auction!

Last month, one property auction firm said that more than a third of their current lots are from buy-to-let investors looking to get out of the market quickly. It further claims that some landlords are willing to take a hit of up to 30% on the property’s price to leave the private rented sector.[i] We’d urge you not to go this route and to give us a call, discuss your options and let us help you arrange a valuation.

We have bought three rental properties through Grace Miller, and I have to say they are by far the best estate agent we have ever dealt with. For each flat, they kept us informed and reassured throughout the process and made sure everything stayed on track.

MP

Since we opened, Grace Miller & Co. In 2000, we’ve given proactive, professional and personable care to all our clients. We’re very proud of the reputation we’ve built and the client reviews we’ve received. If you have a property in London or Surrey and would like to benefit from our outstanding service and unrivalled knowledge in residential lettings, sales and block and estate management, please get in touch today.  

Source: https://www.property118.com/landlords-selling-up-take-a-30-hit-to-quickly-exit-the-sector/