Digital company formation and management platform, GetGround, has reported a six times year-on-year increase in the number of companies formed on its platform for the first five months of 2021.
The platform is designed to make it easier, faster and more cost-effective for landlords and property investors based anywhere in the world to manage their residential property investments in England and Wales.
Moubin Faizullah Khan (pictured), CEO at GetGround, said: “The adoption of company structures for investing in buy-to-let has massively accelerated in recent years. Yet until we launched GetGround, there was no one platform that supported landlords and investors through everything that company buy-to-let investing involves – from company formation and legal documents, to current accounts, tax returns and accounting. The speed at which customers are turning to GetGround shows us that our platform solves that problem.”
GetGround has secured a 4% market share of monthly volumes since the company’s formal launch in January 2020. More than 3,500 landlords and property investors in 57 countries have registered companies on the platform, for the purpose of buying UK properties collectively worth in excess of £300 million.
The company is operating on an annualised run rate of over 2,000 new companies a year managing property worth more than £500 million. The company expects the accumulative value of properties managed on the platform annually to exceed £1 billion within the coming months, as investing in buy-to-let property through companies continues to become the preferred route for serious buy-to-let investors.
Khan added: “Savvy property investors understand the overwhelming benefits of investing through companies over personal ownership. Whether it’s tax efficiencies, wide access to mortgage finance options, personal liability protection, or inheritance planning, company buy-to-let makes good business sense. It’s good for tenants too, reducing their costs and improving standards.”
