Fergus and Judith Wilson, landlords, have the largest portfolio of investment properties in the UK that they rent out. However, since 2015, they have sold a significant number of these properties that are located in Kent.
Back in 2015, they owned in the region of 900 properties that they rented out with an estimated value believed to be around £250 million but since then they have sold in the region of 400 of the properties.
Apparently, many of the properties that have been sold are now owned by people from overseas. However, a number have actually been purchased by tenants and that is excellent news.
Those of you who are perhaps considering becoming a landlord for the first time may wish to bear in mind that, apparently, Mr Wilson feels that there are quite a lot of problems that the amateur landlord could encounter when it comes to purchasing and looking after a portfolio of investment properties that are being let out to tenants. Of course, no doubt there will still be a number of new landlords who are more than capable of owning and running a successful portfolio of rental properties.
In recent years, the criteria to borrow money to purchase a property to rent out such as by way of a buy-to-let mortgage had been tightened up by lenders and this may have put off a number of potential landlords or existing ones from increasing the size of their investment property portfolio.
However, if you are considering becoming a landlord for the first time, you may wish to get as much advice as possible about this line of business from experts in this field whether that is the likes of a letting agent, accountant, bank manager, buy-to-let mortgage broker and perhaps a friend who has many years experience in renting out investment properties. Having done your due diligence and research, if you feel that becoming a landlord is still for you then we wish you every success in your new business venture.