The perfect fit

Molly Bennett talks to a couple whose property portfolio has given them the freedom they needed to foster 20 children

Molly Bennett

“Fostering can make a real difference to children. For more details, see www.fostering.net or telephone 020 7620 6400.”

Ed and Maggie Atkinson are buy-to-let landlords with a difference. They not only provide homes for tenants, they also open their own home to those in need — and being buy-to-let landlords gives them the flexibility they need to do it.

Ed and Maggie, who live in Henley, became foster parents in 2003. With two children of their own — Emily, 17, and Rosie, 15 — the couple took pains to ensure that everyone had a say in the matter before they took the plunge.

In the past five years, the couple have hosted more than 20 young people, from babies and teenagers to mothers and babies together. They stay with them for anything from a week to more than a year.

Flexible friends

Ed says that their role as part-time buy-to-let landlords is the perfect complement to their fostering work. “You need to be quite flexible to be a foster parent, so you’re free for school appointments, taking them to the doctor or social work meetings,” he says.

The couple approach their property portfolio in the same way they approach fostering: with consideration and care. It all began in 1986, when Ed bought a terraced house that they later lived in for a while, but which was primarily a rental property. Then Ed, his brother and sister inherited a cottage, so the couple managed that for a few years, building up valuable experience.

In 2000, Ed was canoeing with a friend, who said in passing that he was considering buying a property as a retirement income policy. Intrigued, Ed mentioned it to Maggie, who seemed more than a little keen. “Before my back was turned, she was at the estate agents!” he says. “I did lots of research and we agreed it was a brilliant idea.”

Due to the higher yields available, the couple decided to build their property portfolio in Reading instead of Henley. They also agreed on a set of criteria for any future purchases: flats instead of houses, freeholds only and proximity to Reading station.

They also rarely use agents, preferring to manage the properties themselves. “We’ve found that tenants see it as an advantage to deal with private landlords, as they can sometimes save £1,000 on fees,” says Ed. “We only use agents when we need to market a property, just to find the right kind of person.”

Initially, they funded their purchases with the money Ed had inherited, as well as with the equity in their house. Since then, they’ve grown organically. “Because we started buying property in 2000, we saw quite a big increase in equity, so that has helped,” says Ed.

Ed and Maggie now have a portfolio worth £3.5 million. This comprises everything from a building containing two flats to a converted 1930s pub. Most are in Reading town centre.

Ed puts their success down in part to the fact that they offer flats that have a high-quality finish (“A cool kitchen and bathroom make a big difference,” he says) and that are close to transport hubs.

Portfolio people

Equally important, however, is that they see their tenants as customers first. “We’re not so much in the property business as the people business,” he says. “We genuinely enjoy meeting new people.” While most of their tenants tend to be professional commuters, they see a range of people including, currently, two ex-Gurkhas.

In fact, says Ed: “Being buy-to-let landlords and fostering are similar, particularly if you’re managing properties yourself, as we are. You have to be flexible, ready for the unexpected and interested in people.”

When asked if he would recommend fostering to others, he replies: “Absolutely – it’s great fun. Local services are always after more fosterers, and there are no barriers in terms of age, sexuality or marital status. More than anything else, you need to be flexible and love kids.

“Fostering makes us feel connected to the wider community and we meet a wider variety of people. Helping children gives meaning to our lives and makes us feel good.”

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