Property management platform lettingaproperty.com has highlighted key opportunities and challenges facing portfolio landlords in 2024, having surveyed more than 300 of its multi-property landlords to better understand their needs.
The survey revealed overwhelmingly positive landlord sentiment, with 78% of respondents planning to maintain or grow their property portfolios over the next 12-24 months, despite varied predictions for the housing market, interest rates and the broader economy.
“It’s very encouraging to see our portfolio landlords entering 2024 with positivity, with a large majority looking to maintain or add to their property portfolios. Amid some economic uncertainty and with the Renters (Reform) Bill looming, this is still a landlords’ market, with stock scarcity continuing to drive high rental values and yields,” said, Jonathan Daines, Founder and CEO, lettingaproperty.com
The London and South East regions are landlords’ top investment targets, highlighting their confidence in the capital and mirroring lettingaproperty.com’s own success in these areas – achieved partly thanks to the company’s extremely cost-effective pricing model, particularly for higher rental amounts.
Portfolio landlords also reported the most important factors when choosing a letting agent, as part of the lettingaproperty.com survey. 53% of respondents said “customer service and support” was their number one priority, followed by “guaranteed rent payments” then “reducing time and hassle.”
Amongst additional services and benefits offered by letting agents, 94% of portfolio landlords said “dedicated property management” was most important to them, followed by “portfolio reviews and health checks” and “volume pricing discounts.”
“Insights gained from this survey have helped us to shape our offering, with tailored packages and pricing, to meet the unique needs of multi-property landlords. Feedback also helps us to understand the challenges, opportunities and aspirations of our portfolio landlords, so we can support them to achieve their property goals in 2024 and beyond,”he added.
In light of this feedback, the lettingaproperty.com’s new portfolio landlord offer includes dedicated property managers, volume-based letting fees and free portfolio health checks. Landlords also get their rent paid on time – whether tenants pay or not – plus LetsProtect™ legal cover, providing complete financial peace of mind.
In addition, lettingaproperty.com’s rental platform provides a clear view of landlords’ properties, tenancies and financials, to support better decision making. This also brings cost and efficiency savings that significantly boost return on investment (ROI), while removing some of the common headaches associated with property management.
To get the most from 2024, lettingaproperty.com recommends landlords start with a thorough portfolio review and health check, covering property performance, management fees and processes. This is something the company is offering as a free, no-obligation service, as part of its commitment to portfolio landlords.