24 September 2018

Vendors: People Want To Become Landlords – Can You Sell To Them?

Posted by: IanWatson

One of the most important things to do when selling your home is know who the most likely buyer is. This is something that a local estate agent can assist with and at Mitchells Estate Agents, we are more than happy to help you present your home with the right buyer in mind. It may be that the ideal buyer for your home is someone that you haven’t considered, and therefore, it is important for you to be aware of what is happening in the market.

A recent study, undertaken by Sainsbury’s Bank Mortgages, suggests that close to 10% of adults in the United Kingdom are interested in obtaining a buy-to-let mortgage. There is a significant level of demand for rental property in the UK, and it appears many people believe that acting as a landlord is a sensible way to bring in income, either in a full-time role or as a side-line.

There are business opportunities for new landlords

The fact that there are reports that current buy-to-let landlords are looking to exit the market suggests that not everything is perfect in the market. However, the conditions for landlords and letting professionals who have been in the industry for many years are different to the circumstances a new landlord would face. Existing landlords have seen the terms and conditions, including housing regulations and tax matters, change over time, eroding their business.

However, new landlords entering the market come into the industry with a fresh slate, allowing them to base their business on the current challenges. This is a level of assistance that current landlords don’t have, and it could be a factor in why there is optimism outside of the market whereas inside the market there are doubts.

There is also the fact that if existing landlords are looking to exit the market, there will be a fall in supply of rental property. With demand for rental accommodation remaining high, this represents an opportunity for new landlords, and it is easy to see why so many people are considering entering this sector.

Landlords can achieve success in their market

29% of respondents said that they have been encouraged to enter the market due to the current opportunities while 25% of respondents stated a change in their income has inspired them to study the buy-to-let market in greater detail.

There will be many people reviewing these findings with respect to the rental market but with a possible increase of people looking to buy property, there could be a new opportunity for vendors to sell their home. You may have pictured selling your home to a first-time buyer or a young household, but perhaps it is a landlord who will make you the most appropriate offer.

It can never be a terrible thing to have another option to consider and given that vendors should aim to present their property to the most likely buyer, it could be that positioning for landlords makes sense.

At Mitchells Estate Agents, we’re delighted to say we have helped many local homeowners sell their property. We know who the most interested local buyers and we do everything we can to help you connect with these buyers. It may be that landlords will be the most likely buyer for your home and if it is, you can be confident we will place you in front of these buyers, so get in touch for support and guidance in selling your home in Highcliffe, Mudeford and New Milton.

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