Ah, landlords. The elusive creatures of the property world, often as difficult to pin down as a greased pig at a village fete. But wait! A glimmer of hope has emerged from the bureaucratic depths of Companies House. It appears that the number of buy-to-let firms now registered there has quadrupled compared to our beloved fast food outlets. Yes, you read that right – four times more buy-to-let businesses than burger joints. Who'd have thought?
The catalyst for this surge? Tax changes, of course. Private landlords have been driven to establish their own buy-to-let companies to navigate the ever-shifting sands of taxation. With over 400,000 of these companies now on the books, buy-to-let has become the largest sector at Companies House. It's a veritable treasure trove for letting agents on the hunt for landlords.
Enter AI, the digital detective of our times. With its ability to sift through vast amounts of data at lightning speed, Deep Research AI can become the letting agent's best friend in sourcing these buy-to-let companies. Now, you can create an AI tool that scans Companies House, identifying newly registered buy-to-let firms and compiling a list of potential landlord leads. It's like having a personal assistant who never sleeps, tirelessly working to expand your client base.
All you have to do it go to ChatGPT and pay the $20 per month for the 'Plus' upgrade. You will get up to 10 requests per month on 'Deep Research', which is their 'Agentic AI' that will do tasks for you - including, perhaps unsurprisingly, deep research.
What you're looking to do is create a 'prompt' that will enable you to send the AI off to do a perfect job for you. The easiest way of getting your head around it is to think of the AI as an Intern, but one that's superfast. You need to give them a 'goal', and they may ask a couple of clarifying questions, they may need some further guidance or finessing at the end (and you might have to download a dump of the CH data and filter it by county first), but you should end up with a good list of companies to approach - if you get stuck do reach out and we can help.
Of course this doesn't mean that bagging a landlord will be as easy as nabbing a sausage roll from Greggs. But it does offer a more targeted approach. Instead of bombarding tenants with landlord-seeking missives – which, let's face it, are more likely to end up in the recycling bin than in the hands of a property owner – agents can now zero in on these newly minted companies. It's a more refined strategy, akin to using a scalpel instead of a sledgehammer.
The rise of buy-to-let companies is a fascinating example of the unintended consequences of regulatory change. The option to set up such a company has always been available, but it seems the recent tax tweaks have pushed landlords to take the plunge. This shift could signal a broader trend towards professionalisation in the sector. Rather than all fleeing the market, it seems that many landlords are adapting, evolving, and - dare I say - thriving.
For letting agents, this is a golden opportunity. With a bit of AI-powered sleuthing at Companies House, they can identify potential clients and showcase their superior property management prowess. It's a chance to bolster their landlord portfolio and demonstrate why they're the bee's knees in the lettings world.
So, while the landscape of the buy-to-let market may be changing, it's not all doom and gloom. In fact, for those willing to embrace the challenge, it could be the start of a beautiful new chapter. As always, the key is to adapt, innovate, and seize the opportunities that come your way. After all, in the ever-evolving world of property, fortune favours the bold.
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