Many veteran landlords began building their portfolios when there weren’t nearly as many ways to get sued!

When you’ve owned and self-managed hundreds of properties for decades, it’s not easy to keep up with legislative changes, maintain compliance and keep your portfolio at peak performance. The more properties you have, the more difficult it is to be agile; even one change in the law can have massive implications.

There are a number of landlords in this position who consult with us from time to time. We support them through the ever-changing landscape of property management. One in-particular was first introduced to us when landlord licensing came into our area in 2015. We helped him licence all of his 300+ properties, and we’ve kept in touch. When a new piece of legislation comes in, Homesure’s directors support him to move through it (and we do mean move through it, NOT get around it!).

Now, this landlord’s business partner, and several members of staff, are retiring. He doesn’t want to sell his properties. His children have responsibilities of their own and don’t want to take over management. So what can he do?

The brief

Homesure has been tasked with finding a solution to this problem. Help the landlord to:

• Bring all properties in line with market rents and full compliance
• Make any necessary refurbishments
• Ensure that management of all properties is taken care of, for the long-term, so that the portfolio is in peak condition when inevitably inherited by family in the future

The story

This is a big life change for this landlord and his team. We’re working with him to take over management of his properties one by one.

• Every time a property becomes empty, we take over management
• We handle any refurbishments and rent increases required
• We move towards gradually taking over management of the portfolio

Our robust processes are future-proof, so every time we take on a property, the landlord knows that management will be maintained at full compliance and tenants will be well looked after.

As more properties move across, he can relax, sit back and continue benefitting from the empire he’s built! When, at some point in the hopefully distant future, his children inherit his portfolio, they’ll receive the gift of a sizeable income that’s almost entirely hands-off.

A video on a related topic

Why it pays more than you think to make sure your rents aren’t short before you sell. Mark talks us through good retirement planning!

Do you recognise this story?

If you would like support with legislative compliance or legacy planning, book a free consultation with one of our directors.