GetGround, the buy-to-let company creation and management platform, has reported a 2.5x increase in the monthly number of limited company incorporations it facilitated for its customers during the 12 months to the end of August 2022.
The business, which launched in early 2020, is now adding 4,000 properties worth £1 billion to its platform on an annualised basis. GetGround recorded an average 11% increase in incorporations completed month-on-month since January 2022. Monthly revenues are on track to grow four-fold this financial year to December 2022.
Today, GetGround has almost 10% market share of all UK residential property company incorporations – a market that has expanded tenfold in the last 15 years, according to Hamptons.
In the 12 months to August 2022, the number of first-time landlords investing through GetGround limited companies doubled. The company also reported year-on-year growth in customers based both in the UK and internationally (104% and 25% respectively).
Moubin Faizullah Khan (pictured), CEO of GetGround, said: “As individuals and businesses, many of us are being confronted with the fallout of the Covid pandemic, geopolitical unrest and now rising inflation, rates and cost of living. Landlords are no different, with this universally-felt financial uncertainty putting pressure on the viability of their investments.
“Just as we’re seeing an uptick in interest from investors looking to purchase energy-efficient, new build properties, they are also turning to limited company structures to optimise their finances. From tax efficiencies to personal liability, there are many good reasons why limited company investing makes good business sense, but ultimately it comes down to efficiency.
“Efficiency is key to investing sustainably, responsibly and profitably. In tougher economic times, the ability for landlords to optimise their buy-to-let portfolios for the long-term is proving crucial and, as our strong company creation numbers month-on-month prove, GetGround is well positioned to help them achieve that.”