A LEADING property management firm has attracted its highest ever monthly number of new properties during September. The firm, which operates as D.J. Alexander Ltd in Scotland with apropos as its UK-wide property management platform, has recorded an increase of 139 properties to its business in the last month. This is a 68% increase over the same period last year and is the largest increase in numbers for any month since the firm began in 1982.
David Alexander, joint managing director of D.J. Alexander Ltd and apropos, said: “We have been inundated with landlords approaching us to manage their property. In the near 40 years since I started the business, we have only twice before had just over 100 new properties in any month and this large increase is a welcome sign.”
“These properties have come from other agents, from individuals shifting from the short-term lettings market, and also from new, first time landlords entering the market. This highlights just how resilient the market is at the moment as landlords and investors remain confident in the medium to long term value of property and the private rented sector (PRS).”
David continued: “A number of the new units that have come on to the market have already been snapped up, but we are being cautious in the advice we have given our landlords. Better to get a slightly lower rent and be let immediately than hold out for a higher figure that may never arrive.”
“Rental prices are softening at the moment so it is vital to get excellent tenants in immediately securing the rent for the coming months which may see the market soften further.”
David concluded: “Although we continue to operate in uncertain times, we have found the last three months extremely positive. There remains a strong appetite for investment in the private rented sector and there is a great flow of tenants into the market. It would seem that property remains a strong, central asset for investors and individuals and the PRS seems to be successfully weathering the storm for the moment. But given the pace at which change happens, you can never be entirely certain what is coming in the next six months, but we have been pleasantly surprised and delighted by the last quarter.”