Belvoir Group CEO flies the flag for BTL landlords in Sky News Interview

Belvoir Group CEO Dorian Gonsalves took the opportunity to fly the flag for BTL landlords in an interview with Sky News, calling for government intervention to help encourage landlords back into the sector.

Following the release of the Belvoir Group’s impressive half year results, which showed a 10% increase in pre-tax profit, Dorian was interviewed by Sky News presenter Ian King. During the interview he confirmed that rents in the PRS have risen by 10%, or 15% in Scotland, but supply is down by 27%. This has caused a massive 57% increase in tenant demand.

“Tenants who are looking to rent a property in any part of the country are likely to be competing with up to ten or 15 other potential tenants,” he said. “Supply is down by 27% compared to the average over the last five years and yet demand is up by 57%.  Anyone looking on the property portals now will notice that there are far fewer properties available to let than there were 12 months ago. Landlords are coming under intense pressure and many are being forced out of the BTL market because of factors that include increased mortgage costs, the prospect of higher EPC costs on the horizon, and higher taxation when buying investment properties. 

“Lack of supply is at the heart of the problem. We need to see some incentives and encouragement to attract landlords back into the sector so that rental inflation does not continue in double figures.”

The Belvoir Group is a multi-branded property franchise operation which includes Belvoir, Northwood, Newton Fallowell, Nicholas Humphreys, Lovelle and Mr and Mrs Clarke, as well as Brook Financial Services. The Group currently manages around 75,000 properties nationwide.

To watch the interview visit: https://news.sky.com/video/competition-for-properties-driving-rents-up-to-15-higher-12954883

Find out more about the Belvoir Franchise Group here: https://www.kerfuffle.com/suppliers/belvoir-group-plc