10 Aug, 2021

Why it pays for landlords to have a property manager

Around 2.66 million landlords were operational in Great Britain in 2019, according to data estimations previously released by Hamptons International.

Of those 2.66 million or so landlords, roughly 45% are believed to hold just one property in their portfolio, as discovered in the latest English Private Landlord Survey conducted by the Ministry of Housing, Communities & Local Government just prior back in 2018.

This figure was further corroborated by Reapit’s recent State of Lettings Report, based on data collected from respondents in our Big British Property Survey conducted earlier this year. What we found in our research was that the percentage of landlords with only one property in their portfolio was just over 49%.

Now, at the time of the English Private Landlord Survey, few landlords intended to reduce the size of their portfolio, with 53% planning to keep the same size portfolio, 10% planning to increase their portfolio, 10% planning to reduce their portfolio, and 5% planning to sell their whole portfolio.

Despite uncertain conditions and knocks to confidence over the pasts few years (for a plethora of reasons), it would also seem that Covid has not significantly dented landlord’s plans to remain in the industry, as the NRLA Q1 2021 Landlord Confidence Index found that the proportion of landlords planning to buy over the next 12 months is 50% higher than in Q1 2020.

Which sets up an interesting proposition: if more landlords are considering expanding their portfolios, how would they benefit from property management services? Ultimately landlords want to do as little as possible to get the maximum return on their investment(s) – and the data indicates that the easiest way to achieve this is with a professional service.

Read the full article here: https://bit.ly/2VAi36Y

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