A new business has set out plans to expand across the UK by buying out smaller landlords and property management companies.
Graeme and Leanne Carling currently let out over 300 properties in Scotland through their newly formed company PRS Group, but want to scale up to ownership of 5,000 properties UK-wide “as quickly as possible”.
The couple say it is “time to get big or go home”.
The couple, who say they have extensive financial backing including from overseas investors, are also interested in talking to the owners of property management companies who want to sell up.
The Carlings want to buy out landlords who have been squeezed by recent tax and regulatory changes in the private rented sector.
Graeme Carling said: “Those changes have made it difficult for smaller operators to make money in the private rental market. Our argument is that when you have scalability, things are not so costly.
“The funding is in place and we’re ready to go.
“We’re keen to take advantage of the market conditions UK-wide and grow our property business as quickly as possible.
“Our backers are excited by both the market potential and the weak value of the pound, which makes the UK highly attractive investment territory.”
The eventual aim, say the Carlings, is to float on the stock market.
The Carlings are not the only ones feeling positive about the current buy-to-let environment.
New research from Your Move found that 52% of landlords are positive, despite the slew of regulatory and tax changes.
Just 16% feel negative, while 30% are indifferent about being a landlord in the current economic and political climate.
Your Move gathered opinion from nearly 1,100 landlords in June. It found that the most important considerations to landlords are ongoing maintenance and upkeep costs (83%) and the potential to make long-term profit (80%).
In comparison, the least important factors are the tenant fee ban (43%) and the potential impact of Brexit (32%).
Nearly two thirds of landlords (64%) revealed they are unlikely to sell a property in the next year.
The Your Move research contrasts with yesterday’s report from the National Landlords Association that in Scotland – which is ahead of England in terms of its regulatory clampdown on the sector – that more landlords are selling up than buying.
So many conflicting stories on Landlord sentiment. Earlier this week they were exiting the sector in record numbers. Now they are the kings of ambivalent.
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