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Open Property Group

We will buy any rental property or portfolio – tenanted or vacant.

Open Property Group are professional cash buyers with more than 100 years’ combined property investment experience and a managed portfolio of 150+ properties across England and Wales.

Since being established in 2014, we have completed on more than 1,000 transactions worth £129 million with an average exchange timeframe of 13.2 days.

As a landlord, you can trust us to provide you with a fast, seamless and hassle-free sale of any buy-to-let property of portfolio.

Our honest and transparent approach, alongside our excellent Feefo rating, means you can rest assured that you’ll receive a realistic cash offer and unrivalled service.

Whether you have one, two or 10+ properties to sell, we’ll negotiate a deal that works for all parties, including any tenants, within a completion period that works for you.

You’ll be charged ZERO fees and have NO laborious hoops to jump through.

Why sell your rental property to a cash buyer

  • Tired of managing buy-to-let portfolio?

  • Struggling to keep up with ever-changing legislation?

  • No longer a profitable asset?

  • Want to release cash to reinvest?

  • Want to sell your portfolio in one go?

  • Have a short lease?

  • Problem tenants in situ?

  • Your property is in poor condition?

The process is easy:

  • Contact us for a no obligation valuation

  • Receive an instant cash offer

  • Take as long as you need to decide

  • Seek external legal advice if required

  • Agree a timescale that suits you from the outset

  • We take care of everything else

With absolutely no fees to pay when you sell your property for cash to Open Property Group, you might wonder how we make money and the answer is simple - buying properties for cash with our own reserve funds, we either re-sell, refurbish and resell or absorb the property into our own rental portfolio, making profits that way.

Whatever your motivation, if you want to sell your rental property or portfolio fast, get in touch today.

Latest rental purchases

Two-bedroom terraced house in Leeds – Landlord wanted to sell his buy-to-let to release equity but the temporary ban on evictions meant he needed to sell with the tenants in situ.

Three-bedroom terraced house in Manchester – Tenants had fallen behind on rent and landlord could not afford to keep the property or go through the long process of eviction.

Two-bedroom semi-detached property in Exeter – Landlord wanted to relieve herself of an old buy-to-let property which had tenants in situ and required much improvement to meet the new minimum EPC ratings.

9 properties in Weston Supermare – Retiring landlords who needed a fast and hassle-free way to offload their portfolio comprising both tenanted and vacant houses and flats.

Don’t be impacted by rising rent arrears

08 February 2024 348 Views

Don’t be impacted by rising rent arrears

A recent survey by digital mortgage lender, Molo, revealed that nearly 60% of UK landlords have seen a rise in late rental payments, with the average arrears amounting to £723.

It also found that the worry of rent arrears is one of the major concerns for landlords in 2024, with 44% saying it’s a cause for stress.

On average, landlords experience 2.9 late rental payments a year – almost a quarter if calculated on monthly rental payments over a year.

Even Google search term analysis by Zero Deposits found that there was an 81% rise in those searching for ‘rent affordability’. The same analysis found searches for rental properties dropped by 52%, suggesting that tenant mobility dropped.

We are all human and understand that a lot of people are facing financial difficulties, which is why over half of landlords have implemented payment plans.

But when landlord costs have risen dramatically as well, it’s putting financial strain on them too, not to mention the addition time it takes to manage rent arrears and tenant communications.

The knock-on effect  

After more than a year of consecutive interest rate rises, the number of buy to let mortgages in arrears doubled in a 12-month period as leveraged landlords struggled to cope, according to banking trade body, UK Finance.

In some cases, mortgage payments are higher than rent received or totally wipes out any profit after additional costs like management fees, ground rent and maintenance.

The cost of living crisis also caused many tenants to move into shared or more affordable accommodation or back home, adding more pressure to landlords as voids increased. This is only made worse by consistent late or unpaid rent.

Although mortgage rates appear to be settling, any landlord that has had to secure a new deal in the last few months will be feeling the pressure for some time to come.

How can you remove the stress of rent arrears?

Aside from putting a payment plan in place or reducing the rent to an affordable level, there’s not a lot you can do in the current affordability crisis.

You can, of course, serve a Section 21, but the likelihood of recouping lost rent is slim and will only add to the losses incurred. There’s also the moral dilemma of making your tenant homeless, especially when their inability to pay the rent may be outside of their immediate control.

An alternative, particularly if rent arrears are an ongoing concern with the property, is to remove the burden by selling it. But when you are already out of pocket, and if you’re highly leveraged, waiting for the tenant to be evicted prior to sale will only add to the financial loss, and stress.

What if you could get rid of properties in rent arrears without having to serve a Section21, waiting two months (at best), to evict the tenant?

Also removing the need to redecorate and re-let or sell on the open market?  

We’ll buy your rent arrears

If you have a rental property with late paying tenants, then we’ll purchase it from you for cash.

There’s no need to serve a Section 21, as we’ll take the property on with tenants in situ.

You can remove the stress and hassle of any rental property within a completion timeframe to suit you with the added benefit of paying zero agent or legal fees.

Get in touch today for your no obligation cash offer.

Get in touch

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