Vesta

Vesta Property to provide landlords with new way of 'property shedding'




Thousands of tenants could be evicted from their homes with 19% of landlords predicted to sell at least one property in the near future, according to the latest research.

Figures from the National Landlords Association (NLA) have revealed that approximately 380,000 landlords are expected to put their properties on the market. 

This could cause significant disruption to the lives of longer-term tenants, including increased distances from schools, workplaces and communities.

It could also limit rental availability while these properties sit empty as they go through the traditional ‘vacant possession’ sales process that most estate agents promote.

Russell Gould, CEO at Vesta Property (pictured above), said that landlords were currently facing myriad issues and when they decide to sell their properties, they could face more costly headaches.

“In addition, no landlord wants to cause unnecessary disruption to loyal, longstanding tenants.

“Buy-to-let online marketplaces, such as Vesta Property, can provide landlords with a new way of property shedding that is designed to keep the tenants in place, while making the selling and buying process cheaper, more streamlined and efficient.”

While the latest research highlighted that 19% of landlords could sell their property, the average property portfolio increased in 2017 to 1.44 properties per landlord, compared with 1.33 in 2015 and 1.24 in 2010.

Russell concluded: “While thousands of landlords might want to sell their properties, Countrywide research confirms that landlords in the UK now own the largest numbers of properties in the largest portfolios on record.

“We could, therefore, see a flurry of properties exchange hands as some landlords – especially institutions – seek to increase their portfolios.

“However, they also need to maximise their returns and curb expenses, and they can do this through innovative online buy-to-let marketplaces that are both cost-effective, streamlined and efficient."

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