A new online platform is promising investors the chance to become residential landlords overnight, with an instant mortgage and tenants ready to move into properties, initially in the rental hotspots of Manchester and Liverpool.
Dot Residential says it will set up a company to own the home, allowing the casual investor more easily to build a property portfolio — and pay corporation tax at 20 per cent, rather than income tax of 40 per cent, on earnings. Dividends are taxed at 27.5 per cent.
“We create a wrapper around the property that means anyone can become a professional landlord,” said Gray Stern, co-founder and chief executive of Dot. “We take all the time and friction out of it so you can get on with your life.”
