Multi-millionaire landlord Fergus Wilson has confirmed that he is to retire and sell off his impressive portfolio around Ashford and Maidstone, and revealed his progress.

The well-known landlord, who once had about 970 two-and three-bedroom properties and has an estimated net worth of £180 million, says that he has decided to exit the sector, only leaving himself 10 houses.

He tells LandlordZONE that he’s already served about 75% of tenants with a Section 21 eviction notice in the last two or three months and that he’s now sold “a good many” of the properties. “They’re going like hot cakes, helped by the new stamp duty rules – I’ve never known a time like it.”

Wilson says many of his houses are being snapped up by tenants rather than investors but his decision has already sparked anger from some; Callum Oakley and Emma Plaskett in Ashford were handed an eviction notice this week and claimed to the local press that they have faced a number of problems with the property including a faulty oven and a garage door fusing shut.

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Section 21

However, Wilson said he had had the garage door repaired quickly but added: “If I had intended to give Mr Oakley a Section 21 due to reporting disrepairs, I would have done so in November 2019.”

In 2017 a court ruled that Wilson’s policy preventing people from renting his properties based on their ethnicity was unlawful following intervention from the Equality and Human Rights Commission.

An injunction was imposed, banning him from applying criteria discriminating against “coloured” tenants, or those of Indian or Pakistani backgrounds.

The colourful character is unapologetic about his business and adds: “If people think I’ve got too many houses, that’s their opinion. I’ve enjoyed my work and I’ll miss it.”

4 COMMENTS

  1. There is no business or common sense to remain in the private rented sector for many landlords regardless of section 21 notice or any other notice that may apply.

    The press and politician need to stop inciting hate between landlords and tenants. This will not serve any good purpose instead will cause chaos in the market.

    My tenants seem to think that they can steal my property by renting it. Refusing to leave to carry out major works following their deliberate destruction of the property.

    We shall all do the same and move to rented accommodations without the need to work to save for deposit or pay for mortgages. Once we move in, we can damage the property, refuse the landlord access and if landlord wants to evict, we will claim it is revenge eviction. What a brilliant plan better than the “the Italian Job” and we can name it proudly as “The English Job”. A brilliant new movie with real life stories directed by ……, produced by ……, actors from ……. financed by private landlords forcefully without choice.

    Everything for free for all to enjoy.

  2. With all the landlord bashing that’s going on, who can blame the man for selling up? He can now enjoy his retirement without the stresses being a LL is bringing at the moment and is likely to continue to do so for the forseeable future.

  3. Fergus has the right idea.
    What surprises me is that tenants are buying his properties.

    There were and are plenty of other properties to buy.
    So why magically do tenants now wish to buy.

    Anyone would think there is a shortage of property to buy when there ISN’T!

    But whatever I intend to follow Fergus out of the bankrupt AST business model.

    If you can’t easily get rid of rent defaulting tenants then there is no point in being a LL.

  4. He constantly seeks to wind his tenants up and clearly uses his position of power to bully people.

    Good riddance to old fashioned landlords like this who appear to have little empathy for his customers and give the rest of us a bad name.

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