Jun

What recent Trustpilot reviews reveal about the challenges landlords are facing

admin

Property118

What recent Trustpilot reviews reveal about the challenges landlords are facing

One of the most interesting aspects of running Property118 is that we speak to landlords at every stage of their journey.

Some are still actively acquiring properties. Others are reducing debt, selling selected assets, planning for retirement or thinking about how to pass wealth to the next generation. What often surprises me, though, is that regardless of portfolio size, many conversations begin in exactly the same way.

“I don’t know what to do for the best.”

That uncertainty has become increasingly common over the last few years. Taxation has changed. Regulation has increased. Borrowing costs are higher than many landlords became accustomed to during the era of ultra-low interest rates. At the same time, many portfolios have become highly valuable on paper whilst producing relatively modest levels of income relative to the equity tied up within them.

Against that backdrop, it is perhaps unsurprising that more landlords are seeking a second opinion before making major decisions.

Several recent Trustpilot reviews provide an interesting insight into the type of conversations taking place during Property118 consultations and, more importantly, the value that landlords appear to derive from them.

One reviewer, who described themselves as owning a portfolio of four buy-to-let properties, explained that the portfolio was not delivering the level of return he had originally expected when they purchased the properties.

After speaking with me, they wrote: “Jonathan’s thoughts and insight were excellent. He drew on his experience to help me look at the situation from a completely different angle, which was exactly what I needed. It genuinely felt like a lightbulb moment.”

That phrase, “a completely different angle”, struck a chord with me because it reflects something we see regularly.

Many landlords spend years focusing on acquisition strategies, financing structures, tax changes and operational issues. What they rarely do is step back and ask whether the portfolio they have today is still capable of delivering the lifestyle, retirement income or legacy they originally intended it to provide.

Sometimes the answer is yes. Sometimes the answer is no.

Either way, clarity tends to emerge once somebody challenges the assumptions that have been driving previous decisions.

Another recent reviewer highlighted a different aspect of the consultancy process.

Writing about their consultation, they commented: “Jonathan was extremely thorough and explained everything clearly. He was able to zoom out and examine all the moving parts of the different businesses whilst also providing the reasons and steps required to make changes and restructure.”

This review highlights an issue that many landlords face as their affairs become more complex.

A property portfolio rarely exists in isolation. It often sits alongside trading businesses, pensions, family considerations, inheritance planning objectives and existing borrowing arrangements.

Decisions made in one area can create opportunities or problems somewhere else.

Looking at one piece of the puzzle without considering the wider picture can sometimes produce the wrong answer.

What many landlords really need is not another product recommendation or another opinion on interest rates. They need somebody to help them understand how all the moving parts interact and what consequences may follow from different courses of action.

A third reviewer described a consultation with Property118 consultant Swati in much simpler terms:

“I had an incredibly helpful meeting with Swati and felt under no pressure but very enlightened by the end of it.”

The review itself is brief, but the words “under no pressure” are particularly important.

Landlords are naturally sceptical when approaching advisers because they worry that every conversation is ultimately leading towards a sales pitch. That concern is understandable. Most people have experienced situations where advice appears to be driven by the solution somebody wants to sell rather than the problem they are trying to solve.

The purpose of a Property118 consultation is different.

The objective is not to persuade landlords to adopt a particular strategy. The objective is to help them understand the options available to them and the implications of those options. Sometimes that leads to further work. Sometimes it does not. What matters is that the landlord leaves the conversation with a clearer understanding of their position than they had beforehand.

When I look across these reviews, despite the very different circumstances of the individuals involved, a common theme emerges.

None of the reviewers praise a product.
None of them focus on tax savings.
None of them talk about sophisticated structures.
Instead, they talk about clarity, perspective, understanding and confidence.

Perhaps that should not be surprising.

Most landlords are perfectly capable of making decisions once they understand the available options. The real challenge is often identifying those options in the first place and understanding which are most closely aligned with their personal objectives.

For many landlords today, that may be the most valuable service of all.

LEARN MORE

Thank you for the TrustPilot reviews

Thank you to everyone who has taken a few minutes out of their day to share their experience. Every review helps us build credibility, reach more landlords and continue our mission of facilitating the sharing of best practice within the UK private rented sector.

If you haven’t yet had a chance to leave a review, or would simply like to read what other members have said, you can do so via the link below: