Is now the right time to sell your property portfolio?

Alan Cooper MARLA Hazel Grove Branch Manager talks about whether now is the right time to sell property portfolios.

We have been approached recently by a number of landlords enquiring about whether now is the right time to sell their portfolio of properties and whether there is a demand for properties with sitting tenants.

We have therefore looked at this and tried to give a balanced view.

Alan Cooper MARLA Hazel Grove Branch Manager
Alan Cooper MARLA Hazel Grove Branch Manager

Having dealt with rental properties for many years, we understand the pressures that landlords have been under in recent years. Legislation has been on the increase:

* The removal of tenants paying referencing fees;

* Mandatory EPC’s having to have a minimum of an ‘E’ rating;

* EICR Electrical reports now mandatory every 5 years;

* Installation of smoke and CO alarms;

* Changes to the “Right To Rent” legislation due to Brexit;

* Changes to Capital Gains Tax;

* Changes to “second home” stamp duty and

* Changes to the Digital Tax Regulations (MTD).

Whilst the EPC, EICR, and smoke/CO alarm changes (in conjunction with the Gas Safety Record) have certainly helped to ensure that rental properties are in a better, more efficient and safer condition, there is always an expense to be paid which (quite rightly), falls on the landlord.

The rental market through this period has remained strong and some of that expenditure has been absorbed due to the increase in rent.

However, there is more legislation being proposed and the “Renters Reform Bill” is due to be heard in parliament through 2022. If these do get passed it would be heralded as the most dramatic changes to tenant/landlord legislation since the the Landlord & Tenant Act in 1985. Some of the changes that are being proposed are:

* The scrapping of “no fault evictions” – in essence the scrapping of The Section 21 Notice and changes to the Section 8 notice with the process moving through the courts.

* Lifetime Deposits meaning tenants can move their deposit from one property to the next

* Rogue Landlords Database which can be accessed by tenants and agents

* Increasing the minimum EPC rating to “C” from the current “E”

* An amendment to the Dogs & Domestic Animals Accommodation Protection Bill which relates to tenants having pets at the property

These are due to be heard in Parliament this year but, at the time of writing, no date has been set.

Whilst the legislation has been changing, so have the rental figures that are being achieved and whilst the legislation can be seen as a “con” there are also “pro’s” to balance this out.

* You have a property that will continue to increase in value and can be sold

* You get a regular income on a monthly basis

So, is now the right time to sell your property portfolio?

House prices have never been higher and the demand for properties does not seem to be diminishing. We expect mortgage interest rates to continue to rise through this year and the phasing out of Mortgage Insurance and Tax Relief will continue to put additional pressure on landlords.

As a result, Lawler and Company have now established a section of our business to specifically cater for this section of the market. We can offer advice on whether to sell with a sitting tenant or whether to sell as an empty property; What sort of impact this has on the type of buyer that you are aiming the property at and how that impacts on the price that will be achieved; Whether to sell your portfolio as individual properties or to sell them as one portfolio; What method of sale will best suit your needs and we are able to offer special rates for landlords selling more than property.

Should you sell your rental portfolio? Our teams at Lawler & Co. are on call to help with this and any other queries you may have.

Marple Office

36 Stockport Road
Marple
Stockport
SK6 6AB

Tel:
 0161 914 7620
marple@lawlerandcompany.co.uk

 

Hazel Grove Office

128 London Road
Hazel Grove
Stockport
SK7 4DJ

Tel: 0161 300 7144
hazelgrove@lawlerandcompany.co.uk

 

Poynton Office

60 Park Lane
Poynton
Cheshire
SK12 1RE

Tel: 01625 448 001
poynton@lawlerandcompany.co.uk

Mental Health Awareness Week 2021 – Reduce the stress of moving house

This week from May 10th – 16th May 2021 is Mental Health Awareness Week. In the UK approximately 1 in 4 people will experience a mental health problem this year. This week aims to get people talking about their mental health and reduce the stigma that can stop people from asking for help.

Moving home as well as exciting can also be an extremely stressful time, with two thirds of people citing it as one of the most stressful times.

At Lawler & Co, we like offer advice and listen to our customers and relieve the stress and troubles that come with moving and here we give some tips on how to help take some of the stress away from the big move.

Organisation

Start preparing for the move as soon as you can. Declutter and pack as you go. Organise possessions that you will be taking and items that you can give to charity or are no longer needed. This will help you see how much stuff you have to take to your new home. Clothing that is not needed for current season can be packed and stored away ready for moving day. Don’t leave it for the final week.

Administration

Contact your utility companies to advise them of the move and your forwarding address. Internet and TV provider set up and ready to install for when you are in your new home. There is nothing worse than no Wifi for a week! If you have to relocate to a new GP and dentist, get registered in advance. Contact Royal Mail with at least a week’s notice to advise of you change of address and if you need to redirect your mail. Book in the removal company if you need assistance on the day! Try to book well in advance. If you aren’t changing your child’s school be sure to inform them of the change of address.

Time off

If you can, book annual leave from work before and after moving day so it’s not all crammed into one day or a weekend. The day of moving is so busy, leave it clear for you able to concentrate and not stress. Allow a couple of days after to settle in and give yourself time to sort out any little errands. Give yourself time to relax a little and enjoy your new surroundings. If you have little ones, ask a friend or loved one if they can help with childcare or petcare.

Home Comforts

Ensure to have any medications and must haves close to hand, packed in a easy accessible and safe place. Pack a few home favourites that will allow you to feel more settled in your new home and not have to dig to the back of the boxes piled high in the lounge. Favourites such as a cushion, throw, book, blanket. Anything that makes you feel at home. Don’t forget the kettle,teabags, milk and mugs!

Ask for help

Moving is a big job! Be sure to ask friends and loved ones if you are struggling on your own. It’s time consuming and they will be more than happy to help! Helping pack, load boxes, childcare or making refreshments are all great ways they can help.

Moving Budget

Moving house is a big expense and often unexpected expenses can arise. Be prepared for purchases and costs that you may inccur. Don’t forget the take away on the first day!

Familiarise

Take time to familiarise yourself in your new surroundings. Go out and see what local attractions there are on your doorstep. Here in the North West we are lucky to have some amazing National Trust parks, beautiful walks, canals. Get involved in any local community social media groups to see of any upcoming events. See what recreational facilities are available.

This year’s Mental Health Awareness week is all about Nature and how important it is is for our mental health.

Go out and explore, experience nature and #ConnectWithNature.

#mentalhealthweek2021 #estateagentsuk #movinghouse

 

 

 

 

Are you waiting to go on the market?

Are you wating to find somewhere before going on the market?

This is a question we hear time and time again when we are going out on valuations, and we understand that it is a big decision to decide to move without sight of anything you would like to buy. However, our advise would always be to test the market with your property and if you do sell quickly then we are here to help you find your onward purchase.

There is a shortage of properties hitting the market across the whole of Stockport, one possible reason for this could be that home owners are waiting to see their onward purchase before putting their house up for sale, causing a stagnation in the available stock. If sellers can be encouraged to market their property before finding somewhere, then the stock of available properties will increase across the board, meaning that you have a greater chance of finding somewhere for your onward move.