The types of landlords choosing to have their properties professionally managed has definitely changed. We analysed the statistics of our own client base and it showed a firm shift in trends.
Of the landlords whose properties we manage, 42% of them used to manage their properties themselves, and of those, 72% of them live in London near to their rental property.
During their time as a self-managing landlord, many had been stung in the past by a bad tenancy experience or no longer felt comfortable with being solely responsible for complying with ever stricter regulation and tenancy law.
As well as easing the potential burden of self-managing a property, we have invested considerable time to ensure that we achieve economies of scale and savings for the rental properties we manage. This has paid off hugely for our landlord clients and their rental yields.
55% of our landlord clients enjoy their tenants staying for two years or more. In these cases, our landlords benefit from a cumulative 41% saving on standard letting and renewal fees which enables them to have their property professionally managed for less money than if they had paid for a non-managed let-only service through a letting agent.