A currently low-profile service that helps landlords manage portfolios or even sell their properties to tenants says it’s raised a big cash investment in the ‘double digit’ millions.
Homely says the injection, from US-based tech platform UST, will allow it to beef up its own tech capabilities and its marketing.
Homely says its three-fold aims are to help landlords and tenants manage properties better; to enable tenants get on the property ladder; and to help landlords sell their properties to existing tenants.
The service - already two years old but under-the-radar to many landlords - says it can also help landlords cut void times and increase tenant retention.
It also says it’s forging links with other property industry players - talks are ongoing with Aviva, for example.
Chief executive Lewis Scott says: “At such a crucial moment for the property market, this first round capital raise will allow Homely to help more people on their journey to homeownership.
“When it feels like buying a home, or qualifying for a mortgage, is moving further and further out of reach, Homely is committed to providing innovative solutions, underpinned by technology.”
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And where pray tell would you put the money ?
Banks - that can close your account on a whim and stop you spending your hard earned on what YOU choose ??
Good point.
For the bit that is left after the government have taken the punitive CGT there are numerous options depending on circumstances.
1. Buy a sports car and have some expensive holidays.
2. Pay down other mortgages.
3. Gift it to children or grandchildren and hope you live over 7 years so it's out of the IHT calculation.
4. Trickle as much as possible into pensions (either yours or other people's).
5. Gamble on the horses, dogs, casino, etc.
6. Gamble on the stock market.
7. Invest in numerous tax friendly assets
What about donating to a good cause to someone like Shelter?
Easy Nick..!
Personally, I try to avoid third parties being involved in the property management and maintenance and in my financial affairs. This is because they naturally act in their best interests.
Not needed near me, there is a severe shortage of ALL properties, so anything coming on “ at the right price” will sell easily. 💰💰.
I agree wotj Ellie, these so called companies publicising and talking to Aviva and later to councils and the govt are in disguise to help tenants and landlords. In return, they help themselves to a large slice of the cake.
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