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Leading women landlords from "UK Landlord" magazine, May 2008
When you're enjoying what you do, it's no burden at all," says Teresa Galley, the Bradford & Bingley's Property Woman of the Year for 2008, "Working in property is not easy, but it can be really rewarding." Teresa was recently crowned the overall winner in the final selection of eight women landlords from across the UK for the first Property Woman of the Year awards, endorsed by actress and landlord Fiona Fullerton. Teresa is a landlord and property developer living in Doncaster, South Yorkshire and described winning Property Woman of the Year as her biggest accolade. "It has taken me several years to get to where I am today and it's a privilege to have my efforts and hard work recognised in this way." She believes that women can do well in the property sector because they are often business-minded and good communicators. "You don't come across many women in the property business, but I think that's a shame as women have all the skills that are needed to excel in this sector. They are good communicators and can put themselves in their tenants' shoes. I think women are also natural homemakers. I always make sure my properties look like homes to live in, rather than just a place to rent." Teresa's winning prize was free five-year NLA membership, £1,000 in cash, £1,000 of Habitat vouchers and a luxury makeover in Selfridges. NLA Chairman David Salusbury, was one of the 3 judges assessing the entries on their property portfolio, financial success and personal achievements in the buy-to-let market. Winning Property Business Woman Teresa has been a landlord since October 2004, when she bought her first buy-to-let property in London. She has grown her property investment portfolio to fifteen properties in London and Doncaster, where she is now based. Her business, www.brighterpropertiesltd.co.uk, includes a mixture of letting and property development, and she usually selects buy-to-let investment properties that need some degree of renovation: "I like to know that things are done properly so that tenants have no cause for maintenance requests for at least the first few years." Teresa most enjoys her work in property for the independence it offers her: "I like being my own boss, and getting the respect of my peers." At the same time, she warns other female investors in property to be prepared for the hard work in running a rental business. "I work hard at being time efficient, and working smarter to get things done. I also want make sure I do the important things in my life, like making time for my family and going to birthday parties. This means I may often find I work seven days a week and I work a long day." Thrilled with her NLA membership, Teresa told UK Landlord: "It's fantastic. I was already a member of the NLA and I find the website really useful. NLA information is always written in plain English and explained clearly. It's nice to know that if you ever want to double check your facts, what you need to know is easily available." Recognising Talent Across the UK There were seven other regional winners recognised at the awards, all with successful property businesses: Sandra Cook in Wales, Helen Currie in the North, Fiona Macaskill in the South West, Hasmita Reardon in the South East, Jakky Welsh in Scotland, Sue Wordsworth in the Midlands and Sylvana Young in London. Knowing More than the Builder Scottish winner Jakky Welsh has successfully built from scratch her property portfolio in Dunfermline in West Fife when dire financial straits following a marital split forced her to remortgage and rent out her own home. With the funds she received in 2003 from the buy-to-let mortgage on her home, she bought and renovated two run-down properties, doing much of the improvement work herself whilst also working full-time as a home buying advisor in a building company. Within the space of a year, Jakky was able to move back into her own house with her daughter, and five years later, she now has a portfolio of more than 20 properties. Jakky's eighteen year old daughter Natalie has followed in her mother's footsteps and is about to become a landlord of a one-bedroom flat she is renovating herself: "She's a grown-up girl, and she knows that she'll never be able to afford a nice home unless she works hard for herself to get it. It's a big responsibility, but she's embracing it." Being professional and assertive have clearly been useful tools for Jakky's success in property to-date. "When you make a decision, stick to it and take action when you say you will." She also advises other women investors in property to make sure they fully understand property matters. "I have completed part-time basic building courses in joinery and other disciplines which means I can speak to tradesmen and get their respect. Overall, you get better service and can be authoritative when you need to deal with problems." Achieving the work-life balance can often be the most difficult objectives for landlords and property investors. Jakky says that to be sure she gets enough time to spend on herself and with her daughter, she only does one full renovation a year, and "when I shut the door of my home office, except for emergencies, that's the end of the working day for me." Property Woman of the Year 2009
Rugg Review: What's new?
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A new breed of ambitious and talented women are making an impact in property,
managing large portfolios and realising capital gains on developments. Bradford & Bingley
gave these women deserved recognition in its Property Woman of the Year Awards 2008.
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