Looking for an Exit?
We know it’s getting tough and for letting agencies with 120 or fewer properties on their books, whether managed or let only, you are really going to start feeling the pinch now. Especially with the new regulations, including the Tenant Fees Act 2019 which is due to push your costs higher and increase your risk as you battle your clients to increase their fees and as you search for new revenue streams which frankly, do not exist and those that do are in already over-crowded markets meaning your opportunities to maximise your profits has been severely limited. If you own a letting agency and you’re looking to sell, we’re looking to buy.
Agents are experiencing increased liabilities from the Homes (Fitness for Human Habitation) Act 2018 and are still nursing their migraines after the introduction of GDPR and the Data Protection Act 2018. Not to mention the problems they’ll face should it be found they haven’t served the Gas Safety certificate prior to the tenancy commencing, effectively forming an Assured Tenancy and eliminating your landlord client’s ability to evict using Section 21, which is being abolished anyway as Assured Shorthold Tenancies are scrapped next year further increasing the risk of unhappy customers when we’re stuck with terrible tenants we can’t evict without a very valid reason.
The costs of making a simple mistake such as being late with the deposit can cost you thousands and as the government sets their sights on reforming the private rented sector, for many small- to medium-sized letting agents, now has never been a better time to exit the market.
Midlands Property Group Limited is embarking on the acquisition trail, offering a completely confidential consultation to see how we can help you painlessly exit the market whilst the hard work you have done until now lives on. We will look after your managed and let-only portfolio and nurture your clients, providing them with the highest quality of service experienced by our customers. So, what are you waiting for?
We want to hear from letting agency owners in Leicester and Nottingham with fewer than 120 properties (fully managed or let only’s, vacant or filled, in arrears, non-compliant and poorly managed) with the intention of acquiring your portfolio, enabling you to successfully exit your business without the risk of insolvency, just fill in the form below for a no-obligation, completely confidential discussion.