Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Landlord Sales Agency Reports Surge in Landlords Seeking to Sell
Landlord Sales Agency has reported a significant increase in the number of landlords contacting them each week to sell their properties. The agency attributes this trend to recent regulatory changes, including the introduction of the Renters’ Rights Act, and ongoing challenges in the private rented sector (PRS).
According to the report, landlords ranging from those with a single property to those with large portfolios are expressing uncertainty about their future in the sector. The article highlights that over 80 landlords are now reaching out to the agency weekly for assistance with selling their properties.
Recent industry developments mentioned in the report include calls for the Home Office to simplify Right to Rent guidance, a rise in tenant complaints, government corrections to possession guidance, and concerns about landlords not downloading the tenant’s information pack, which could result in fines.
Landlord Sales Agency states that it specialises in selling tenanted, recently vacated, and soon-to-be vacant properties. The agency differentiates itself from traditional estate agents and fast-sale companies by focusing on certainty of sale at a fair, achievable price. Their process includes using a database of over 30,000 active, chain-free buyers and working with local agents to market properties widely.
The agency also notes that buyers are required to pay a non-refundable deposit when their offer is accepted, which is deducted from the final price upon completion. This approach is designed to secure sales early and provide greater certainty for both sellers and buyers.
The report mentions that, despite low interest in leasehold flats across the UK, the agency is still achieving sales for whole properties divided into flats, particularly in regions such as Liverpool, Nottingham, and Manchester.
This update is relevant for UK letting agents and inventory clerks monitoring trends in landlord sentiment and property sales activity, especially in light of ongoing regulatory changes and market pressures.
Source: Property118