Ilkeston firm snaps up 30 properties

IPS Estates, the Ilkeston lettign agency has bought 30 properties.

Richard Jones, director of IPS Estates said: “We are getting quite a few landlords exiting the buy-to-let market because of tax laws and new legislation that has come in.

“The reason we are bucking the trend is because as a letting agent we specifically deal with investors who want to stay in the market, or new investors who want to get into the market and only want to use property as an investment vehicle. People come to us because of our reputation that we have built up over 30 years.”

IPS will be responsible for the management of all 30 of the rented properties which are across the Nottingham and Derby area, including Belper and Ilkeston. This firm says it is in talks about acquiring a further 30 properties.

Jones added: “That’s a lot of property to acquire in such a short space of time. It takes our portfolio to 300 properties under our management. The landlords and investors came to us because of our knowledge – some of them had been asking questions about the new regulations and taxation rules for private landlords. One or two had used us before to find tenants, but now need the homes fully managed as it’s not economically viable for property investors to manage them themselves.

“Property investors like finding new properties and buying them but often don’t have time to do the rest.”