Less than a fifth of landlords rent through the agent that sold them the rental property – London Wallet

Propalt has released the findings of their study on landlord habits in the current market.

Looking at the buying and selling activity of properties by landlords, then analysing changes in ownership records of over 150,000 property titles over a two-year period Propalt where able to see when a landlord purchased, and then rented that property.

More than 50% of the properties that they tracked did not come back to the agency market as AST rental opportunity and so are more likely to be privately let, corporate or short-term rentals. Of the properties that did come back to market, only 18% rented with the agent that sold the property to the landlord. This was tracked within a two-year period.

Co-founder Kieran Slinger commented: “The number one priority for most agents right now is replacing the loss of accidental landlords who are leaving the market. Most agents already have the answer in their own data as they are highly likely to have dealt with landlords both buying and selling in their areas.

“The opportunity is for agents is to replace landlords leaving with ones that they already deal with. When we looked at the data the average agent deals with around 25 landlords a year through the buying and selling process and around 50% of those transactions where from portfolio investors from outside of the area, they bought a property in making them more likely to need a managing agent. By simply matching back who they are and what they buy agents can uncover hidden opportunities within their own data.”