Episode 10 of Lets Talk features Edinburgh based Portolio co-founders, Chris Wood and Ross MacDonald. Portolio is a unique estate agent that specialises in selling tenanted property in Edinburgh and Glasgow. Chris and Ross discuss the service they provide to landlords, tenants and buy-to-let investors when selling a property with sitting tenants. They also talk about their journeys prior to setting up the business and how their paths crossed.
Portolio was established in November 2017 and a glimpse at the available portfolios of properties on their website affirms that the business is thriving and regularly acquiring new properties for their increasing database of property investors. 2019 already appears to be a notable year for them not only in their continued growth, but having recently been accepted onto RBS’s Accelerator programme.
Chris Wood stated: “Being on the RBS Accelerator programme is an incredible shot in the arm for Portolio. It’s designed for growing businesses, and that’s us for sure. To be based at their Gogarburn office, with its amenities and all the extra coaching we receive, allows us to be even more focused on helping our customers. We also welcome visitors!”
“Providing a proven process”
Selling a tenanted property on the open market provides an ideal solution to both landlord and investing landlords. It also causes minimal disruption to the tenants who don’t have to face eviction and enter a rental market that can be challenging to secure a new property. In the podcast, Chris and Ross discuss the many benefits to all parties involved and why it can be a low risk option.
Q1 2019 saw Portolio achieve an average sale price that is above Home Report value for the properties they were instructed to sell, with their average sale price being £157, 671. Average time to sell for the tenanted properties was 22 days. Interestingly, the average age of their selling landlord was 51 years old.
Portolio’s goal is to help make property investment more transparent and straightforward whilst at the same time, support the many parts that make up the rental market.
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