Member Article

IPS Estates Bucks National Rental Slump by Acquiring 30 Properties

The buy-to-let rented sector may be becoming increasingly stagnant during 2017, but one letting agent has bucked the national trend by acquiring 30 new properties in a month.

IPS Estates has taken on the new properties after its innovative and unique style to renting out property saw the PRS as a viable option.

Nationally, it was predicted that 2017 would be a difficult year for landlords in the buy-to-let sector due to the demise of mortgage tax relief and more stringent buy-to-let mortgage lending conditions.

On top of this, research by RICS found that there has been a significant drop in property investors’ appetite to add to their buy-to-let portfolios after changes to the stamp duty rules in 2016.

Richard Jones, director of IPS Estates (Investment Property Services), based in Ilkeston, said: “We are getting quite a few landlords exiting the market because of tax laws and new legislation that has come in.

“The reason we are bucking the trend is because as a letting agent we specifically deal with investors who want to stay in the market, or new investors who want to get into the market and only want to use property as an investment vehicle. People come to us because of our reputation that we have built up over 30 years.”

IPS will be responsible for the management of all 30 of the rented properties which are across the Nottingham and Derby area, including Belper and Ilkeston. This figure could even be set to double as the firm are in talks about acquiring a further 30 properties.

Richard, who runs IPS Estates with business partner Adam Lawrence, said: “That’s a lot of property to acquire in such a short space of time. It takes our portfolio to 300 properties under our management. The landlords and investors came to us because of our knowledge - some of them had been asking questions about the new regulations and taxation rules for private landlords. One or two had used us before to find tenants, but now need the homes fully managed as it’s not economically viable for property investors to manage them themselves.

“Property investors like finding new properties and buying them but often don’t have time to do the rest.”

More information can be found at ipsestates.com

This was posted in Bdaily's Members' News section by Poppy-PR .