Annual Health Checks For Your Property Portfolio: The Landlord's Secret Weapon

Owning a rental property isn’t just about collecting rent. It’s about managing a valuable business asset. Yet many landlords overlook one of the most effective ways to protect and grow their investment: regular portfolio health checks.

Think of it like an annual MOT for your property. Just as you wouldn’t drive your car for years without servicing it, you shouldn’t let your rental run on autopilot. Proactive reviews help you spot small issues before they become big problems — and can significantly boost your bottom line.

This blog will walk you through what a comprehensive property health check should include, why it matters, and how to build it into your annual routine.


Why Annual Reviews Matter

Many landlords only respond to problems when tenants report them. But reactive maintenance can be costly and stressful. Regular reviews allow you to:

Even if you only own one property, treating it like a business asset will help you make better decisions.


What Should a Property Health Check Include?

Let’s break it down into five essential categories:

1. Energy and Efficiency Review

Why it matters: Tenants are seeking energy-efficient homes. Plus, better EPC ratings can justify higher rents and reduce voids.

2. Legal and Safety Compliance

Top tip: Keep a digital folder with all current certificates, expiry dates, and renewal reminders.

3. Maintenance and Structural Condition

Proactive landlords: Fix small issues immediately. A loose tile today could be a damp problem tomorrow.

4. Market Rent Assessment

Warning sign: If your property lets quickly with multiple applicants, your rent may be too low.

5. Financial Review

Added bonus: Annual reviews help you prepare for refinancing, selling, or expanding your portfolio.


Don’t Forget the Tenant Experience

A quick check-in with your tenants can reveal issues before they escalate. Ask:

Happy tenants stay longer, treat the property better, and reduce void costs.


When Should You Conduct a Review?

Ideally, schedule a full health check once a year, and combine it with your property’s annual safety inspections. Some landlords tie it to a calendar event — tax year-end, tenancy renewal, or summer maintenance window.

Bonus tip: Keep a checklist for each property and update it during every review. Over time, this creates a valuable record of maintenance history and compliance.


Tools That Make It Easier


Common Oversights to Avoid

A structured health check avoids these pitfalls and gives you peace of mind.


Final Thoughts: Turn Maintenance Into Momentum

Annual health checks might not be glamorous, but they are powerful. They prevent loss, increase value, and ensure your property remains a strong performer in your portfolio.

In a changing regulatory landscape and competitive market, landlords who stay proactive are the ones who thrive.

Start today... Schedule your review... Protect your investment... And run your property like the business it truly is.

If you need support, Click here to explore our consultation options and connect with one of our property experts today to ensure that you get the right support!

The Smart Homeowner's Guide to Timing the Property Market

When it comes to selling your home, timing isn't just a detail... It can be a deal-maker!

Choosing the right moment to list your property can significantly affect how quickly it sells and how much you achieve. Yet too often, homeowners either wait too long or jump the gun based on fear or market hype.

In this Smart Homeowners Guide, we’ll explore how to time your sale strategically in 2025, with a focus on market cycles, economic signals, buyer behaviour, and seasonal trends — all explained in plain English.


1. Why Timing Matters in Property Sales

Buyers’ behaviour fluctuates throughout the year. So do mortgage rates, market confidence, and even local competition. Choosing the right window can:

The same house might sell for thousands more simply because it was listed at the right time.


2. Understanding the Property Market Cycle

Just like fashion or the economy, the housing market moves in cycles:

These cycles are influenced by interest rates, government policy, lending criteria, and wider economic conditions.

2025 Insight:

As we continue to adjust to post-pandemic economics and evolving housing policies, micro-market cycles are becoming more important than national trends. What's happening in your town — even your street — matters most.


3. Seasonal Trends Still Matter

Despite the rise of 24/7 online listings, seasonality continues to play a key role:

Timing Tip:

If your property is family-oriented, avoid listing in school holidays. If it's ideal for downsizers or first-time buyers, timing is more flexible.


4. Economic Factors to Watch

Even local markets are affected by wider financial shifts:

What to Do:


5. Local Competition Makes a Difference

A key part of timing your sale is knowing your competition:

Smart Strategy:

If there’s a lull in your area and your property is in great condition, listing now might help you stand out. If the market is flooded, consider waiting or improving your home’s appeal to stand out.


6. Life Events Should Guide Your Timing Too

Beyond the market, your personal goals matter:

There’s no perfect time universally — only what’s right for you.

Practical Tip:

Even if you’re not quite ready, start planning early. That way, when the ideal market conditions arise, you’re ready to move.


7. Get a Valuation Sooner Than You Think

Many people wait until the last minute to get a professional opinion. But early insight helps you:


8. Common Timing Mistakes to Avoid


Final Thoughts: Be Proactive, Not Reactive

Timing the property market doesn’t require a crystal ball — just good local knowledge, practical insight, and some advance planning.

Remember:

When in doubt, speak to someone who understands your area inside and out, Click here to explore our consultation options and connect with one of our property experts today to ensure that you get the right support!

Navigating The Renters' Rights Bill: Practical Steps For Landlords

The Renters' Rights Bill is expected to bring the most significant changes to the private rented sector (PRS) in decades. For landlords, this is a defining moment: adapt early and future-proof your portfolio, or risk falling behind as enforcement tightens and tenant expectations rise.

But there’s no need to panic. While the reforms are wide-reaching, they’re designed to raise standards — not punish professional landlords. In fact, those who prepare now are likely to see longer tenancies, fewer disputes, and more stable returns.

This guide breaks down the key elements of the Bill and provides practical, no-nonsense steps to help you navigate what’s ahead.


What Is the Renters' Rights Bill?

The Bill aims to rebalance the landlord-tenant relationship by prioritising fairness, security, and accountability across the PRS. Here are the main proposed changes:

These measures aim to professionalise the sector and ensure safer, more secure homes for tenants — and stronger, more resilient businesses for landlords.


What the End of Section 21 Really Means

Section 21 currently allows landlords to serve notice without providing a reason. Once abolished, landlords will need to use Section 8, which requires valid grounds such as rent arrears, breach of contract, sale of property, or moving in a family member.

Implications:

Tip: Familiarise yourself with all Section 8 grounds and seek legal advice to ensure tenancy clauses align.


How to Prepare for Rolling Tenancies

All tenancies will become periodic by default, removing the certainty of fixed terms. While this offers flexibility, it also means landlords must be more responsive.

Risks and Considerations:

Best Practice:


Rent Increases: Know the Limits

Landlords will be restricted to one rent increase per year, with two months' notice. Increases must be in line with market conditions and demonstrably fair.

What You Can Do:


Understanding the Landlord Registration Requirement

All private landlords will be required to register on a national database, providing proof of compliance (e.g. gas safety, EPCs, deposit protection, EICRs).

Why This Matters:

Action Steps:


New Ombudsman Scheme: What It Means for You

The Renters' Rights Bill introduces a mandatory ombudsman service to resolve tenant complaints without going to court.

Benefits for Landlords:

What to Do Now:


Additional Reforms You Need to Know

Pets: Landlords must not impose blanket bans and must fairly assess requests. Insurance to cover pet damage may be required.

Discrimination: Landlords can no longer refuse tenants based on them having children or receiving benefits.

Lifetime Deposits: Deposits will follow the tenant from property to property — reducing admin and improving tenant mobility.

No Bidding Wars: The advertised rent must be honoured, with no ‘best offers’ accepted above it.


New Safety & Standards: Awaab’s Law and Decent Homes

The Bill extends Awaab’s Law to the PRS — requiring landlords to address health hazards like mould or damp within strict legal timeframes.

The Decent Homes Standard, long used in social housing, will also apply to PRS properties. Landlords will need to ensure:

Tip: Conduct a property audit now to assess where your property may fall short — and plan improvements proactively.


Energy Efficiency Reforms on the Horizon

Although not part of the Bill, EPC reforms are in consultation. The government has signalled that PRS homes may be required to meet a higher EPC+ standard (targeting EPC C) between 2026–2028.

Prepare by:


Proactive Steps to Take Now

To stay ahead of the changes and protect your portfolio, here’s your checklist:

  1. Review Tenancy Agreements
    Ensure they are flexible and compliant with Section 8 and periodic tenancy rules.
  2. Digitise Record-Keeping
    Use property management software to track payments, repairs, and communication.
  3. Train Your Team or Letting Agent
    Make sure everyone understands how the reforms affect their day-to-day role.
  4. Join Professional Associations
    Stay informed through updates from landlord groups, ARLA, or your local authority.
  5. Create a Compliance Pack
    Collate all required certificates and be ready to register when the national portal goes live.
  6. Start Property Improvements Now
    Fix known hazards, update old systems, and prepare for the Decent Homes Standard.

Common Misunderstandings

“I won’t be able to evict tenants anymore.”
False. You’ll still be able to evict using Section 8 — but only with valid grounds and proper documentation.

“These changes will destroy landlord profits.”
Not necessarily. Good landlords who offer quality, compliant homes often attract longer-staying tenants and fewer costly disputes.

“I’ll wait until it’s all law before making changes.”
That’s risky. Many reforms will be phased in from late 2025 through 2027 — leaving little time to adapt once deadlines hit.


Final Thoughts: Landlords Who Prepare Will Thrive

The Renters’ Rights Bill is not the end of the PRS — it’s a modernisation. A more transparent, fair, and professional system benefits tenants and landlords alike.

Landlords who adapt early, maintain high standards, and document everything will be in the strongest position to navigate this change — and stand out in an increasingly competitive market.

Think of your property as a professional business. Keep it compliant, tenant-ready, and future-proofed — and it will continue delivering strong returns for years to come.

Do you need to brush up on your compliance? Or maybe you are unsure about the new laws and legislations that could be coming into place? If so, Click here to explore our consultation options and connect with one of our property experts today to ensure that you get the right support!

Decent Homes Standard For The PRS: What Every Landlord Needs To Know

The property rental landscape is shifting.

With plans underway to extend the Decent Homes Standard (previously only applied to social housing) to the private rented sector (PRS), landlords across the UK are facing a new set of expectations. But rather than a threat, this change offers an opportunity to modernise your property, improve tenant retention, and future-proof your investment.

In this guide, we unpack what the Decent Homes Standard is, what it means for private landlords, and how you can proactively meet (and exceed) these upcoming standards.


What Is the Decent Homes Standard?

Originally introduced to ensure acceptable living conditions in social housing, the Decent Homes Standard sets a minimum bar for safety, repair, and comfort. It requires that a property:

  1. Is free from serious health and safety hazards (as defined by the Housing Health and Safety Rating System).
  2. Is in a reasonable state of repair.
  3. Has reasonably modern facilities, including kitchens and bathrooms.
  4. Offers effective insulation and heating to keep the home warm and prevent damp and mould.

The government’s proposal to apply this standard to the PRS means that all rental homes would need to meet these criteria — not just those in the social sector.


Why This Matters Now

Although not yet law, the government is committed to improving standards in the PRS. Local councils are expected to receive increased powers to enforce these rules, with penalties for non-compliance.

That means landlords who delay updates could face:

Conversely, proactive landlords benefit from:


Common Compliance Pitfalls (and How to Fix Them)

1. Outdated Kitchens or Bathrooms: If your property has a kitchen or bathroom over 20 years old and it shows, it may fall short. Focus on functionality: clean, modern finishes, good lighting, and efficient layouts. You don’t need luxury, just decent standards.

2. Inefficient Heating Systems: Old boilers and poor heating control can leave tenants cold and your EPC rating low. Upgrading to a modern combi boiler or installing smart controls can resolve this efficiently.

3. Structural Disrepair: Small cracks, leaky roofs, or damp patches may not seem urgent, but they raise red flags. Deal with minor issues before they become major — it saves money in the long run.

4. Poor Ventilation: Condensation and mould are common complaints. Ensure bathrooms and kitchens have effective extractor fans, and inspect for signs of damp regularly.

5. Fire and Electrical Safety: Conduct a full audit: EICRs (Electrical Installation Condition Reports), smoke and carbon monoxide alarms, and gas safety checks. These aren’t optional — they’re required by law and underpin safety.


How to Get Ahead of the Curve

1. Conduct a Property Audit: Walk through your property with the Decent Homes criteria in mind. Use a checklist to rate each area against the standard. Be honest and note where improvements are needed.

2. Prioritise Urgent Upgrades: Focus on health and safety hazards first — these carry the greatest legal risk. From there, move on to heating, insulation, and modernisation.

3. Budget Strategically: Rather than facing one large bill, spread costs over several months or quarters. Focus on quick wins like replacing outdated fixtures, improving ventilation, or repainting high-wear areas.

4. Keep Documentation: Take photos of upgrades, save invoices, and retain certificates. These can demonstrate compliance and protect you in case of dispute or enforcement.

5. Communicate with Tenants: Let your tenants know you’re making improvements. This builds trust, increases cooperation, and can even reduce complaints.


Tenant Expectations Are Rising

It’s not just legislation pushing landlords to modernise — it’s the market too. Today’s tenants want safe, warm, functional homes. They have more choice than ever, and many are willing to pay more for comfort and peace of mind.

Features like the following are increasingly considered essential:

If your property doesn’t meet these expectations, it’s likely to underperform in a competitive market.


The Long-Term View

While the prospect of compliance can feel daunting, think of it as an investment rather than an expense. Properties that meet the Decent Homes Standard:

What’s more, staying ahead of the curve protects you from the stress of last-minute overhauls and unexpected penalties.


Final Thought: Be Proactive, Not Reactive

Landlords who treat their properties like long-term assets understand that proactive maintenance and modernisation pay off. With changes like the Decent Homes Standard on the horizon, now is the time to get your house in order — quite literally.

Start with an audit. Prioritise key fixes. Improve living standards. And document everything.

The reward? A property that complies with new regulations, stands out in the market, and keeps delivering strong returns for years to come.

Are you ready to get your homes to the best standard? Click here to explore our consultation options and connect with one of our property experts today to ensure that you are doing the best thing possible for yourself and your tenants...

It starts now!

The Five Core Factors That Truly Determine Your Property’s Value in 2025

In an ever-changing housing market, knowing what really determines your home’s value is more important than ever. Whether you're contemplating a move, refinancing, or simply want to understand your investment better, being aware of how your property's worth is measured puts you in a stronger position.

Too many homeowners rely on guesswork or general trends without recognising that property valuation is nuanced, local, and shaped by more than just square footage. In this post, we break down the five most influential factors shaping residential property values in 2025 — with practical insight you can act on.


1. Local Supply and Demand: The Market Balancer

At its core, your home’s value is guided by a simple principle: what buyers are willing to pay. And that willingness is heavily influenced by local supply and demand.

What to Understand:

Key Takeaway:

Check how many properties like yours are on the market in your immediate area. Are they selling quickly? Are prices climbing or being reduced? This intel helps you gauge demand accurately.


2. Comparable Sales (Comps): The True Benchmark

Valuers rely on what’s known as ‘comps’ — recent sales of similar properties nearby — to estimate your home’s worth. But this isn’t about vague averages.

What Comps Include:

Real-World Example:

A 3-bedroom semi in good condition on a quiet cul-de-sac might fetch far more than an identical one on a busy road, even if both are in the same postcode.

Key Takeaway:

Recent nearby sales are your best guide. Use property portals, but better still, speak to a local agent who knows which properties actually completed and at what price.


3. Condition and Presentation: First Impressions Count

You’ve probably heard it before, but it’s still true: presentation matters. The condition of your home, inside and out, can swing its value by thousands.

Small Changes, Big Gains:

Curb Appeal:

Buyers form strong impressions before they even step inside. A smart entrance, clean windows, and a weed-free driveway can do wonders.

Key Takeaway:

You don’t need to spend a fortune. Thoughtful, targeted improvements show your home is cared for — and that resonates with buyers.


4. Unique Features and Upgrades: Value Boosters

Not all upgrades are equal. But when done well, certain additions can push your home into a higher price bracket.

Features That Add Real Value:

What to Watch:

Be mindful of over-improving for your area. A top-tier renovation in a mid-range neighbourhood might not return its full cost.

Key Takeaway:

Enhancements should align with what buyers in your area want and expect. Focus on functional, in-demand features.


5. Timing and Market Sentiment: When You Sell Matters

You could do everything right — stage your home beautifully, make smart upgrades — but if you sell at the wrong time, you may miss out.

When Is the Market Strongest?

Economic Factors:

Interest rate changes, inflation, and national events (e.g., general elections) can all influence buyer confidence.

Key Takeaway:

If you're not in a rush, time your sale with care. Monitor local trends and speak to a trusted local agent for advice on when your type of property is in highest demand.


Bonus Factor: Buyer Psychology in 2025

The past few years have changed what people look for in a home:

Understanding buyer psychology allows you to position your home accordingly, highlighting relevant features and making upgrades that matter.


Final Thoughts: Knowledge is Power

Understanding your home’s value isn’t about following the news or trusting a one-size-fits-all estimate. It’s about:

Even if you’re not selling yet, these insights help you:

The housing market may shift, but the fundamentals of value stay remarkably consistent. Keep an eye on them, and you’ll always be ahead of the curve.

Ready to take the next step? Click here to explore our consultation options and connect with one of our property experts today.

Maximising Your Rental Appeal in a Competitive Market

Being compliant with legislation is essential. But if your property isn’t attractive to tenants, it won’t matter how up to date your certificates are — it could still sit empty.

With the rental market growing more competitive and tenants becoming more discerning, landlords must look beyond basic functionality and ask: “Would I want to live here?”

In this guide, we explore practical, cost-effective ways to maximise your rental property’s appeal — not just to fill it quickly, but to secure high-quality tenants who stay longer and treat the home as their own.


Why Presentation Matters More Than Ever

Tenant expectations have risen. Thanks to online portals, tenants can compare dozens of listings in minutes. If your property looks tired or dated, it may be skipped over — no matter how fairly it’s priced.

Great presentation isn’t about luxury. It’s about clean, modern, comfortable spaces that look cared for.

Benefits of investing in appeal include:


Easy Wins That Make a Big Impact

1. Fresh Paint in Neutral Colours: A fresh coat of paint is one of the cheapest ways to transform a room. Stick to modern, light neutrals like soft greys or off-whites. These brighten spaces and help tenants visualise living there.

2. Upgrade Light Fixtures: Old, yellowed fixtures date a property instantly. Swapping them for simple, modern designs improves both appearance and energy efficiency.

3. Flooring Matters: Worn carpets or chipped vinyl can turn tenants away. Consider durable laminate in high-traffic areas, and keep flooring consistent throughout to create flow.

4. Clean and Tidy Outdoor Space: Whether it’s a small yard, garden, or balcony — tidy it up. Remove weeds, jet wash paths, and add low-maintenance plants. A usable outdoor space is a major bonus.

5. Kitchen and Bathroom Touch-Ups: You don’t need to replace everything. Re-grout tiles, replace sealant, install new cabinet handles, or upgrade taps. Small updates here can completely refresh the space.

6. Boost Broadband Readiness: Fast, reliable internet is a necessity, not a luxury. If fibre is available, make sure it’s installed or at least ready to go.

7. Increase Security: Modern tenants value safety. Install robust locks, consider a video doorbell, and ensure external lighting is functional. These upgrades also help you meet insurance criteria.


Modern Living Expectations

Today’s tenants are looking for more than just a roof over their heads. Consider how your property stacks up against the following expectations:


Staging for Marketing Photos

Online first impressions matter. Many landlords undervalue the power of a good photo. You don’t need a professional shoot (although it helps), but you should:

Great photos attract more enquiries, reduce time on the market, and can justify a slightly higher rent.


Tenant Communication and Responsiveness

A landlord’s reputation travels fast, especially via online reviews or tenant groups. Being approachable, responsive, and fair goes a long way.

Key habits that improve appeal:

A good property manager or letting agent can help maintain this standard, especially if you’re managing multiple properties.


Avoiding Common Mistakes

Mistake #1: Over personalising the Decor- Avoid bold wallpaper or colours. Keep things neutral to appeal to the widest audience.

Mistake #2: Ignoring Smells- Lingering odours from pets, smoke, or damp can be deal-breakers. Deep clean and ventilate well before viewings.

Mistake #3: Overpricing- Setting rent too high might leave the property sitting vacant. Check comparable listings and aim for market value.

Mistake #4: Underinvesting in Maintenance- A single dripping tap or broken blind can suggest you don’t care about the property. Fix minor issues before advertising.


Longer-Term Appeal Strategies

Energy Efficiency Improvements: Not only does this help with compliance, but it also saves tenants money — making your property more desirable. EPC rating C is fast becoming the new standard.

Quality Fixtures: Invest in long-lasting fittings (especially in kitchens and bathrooms). They wear better and reduce maintenance.

Flexible Tenancy Terms: Offering options for furnished/unfurnished or accommodating pets can increase your tenant pool.

Modern Tech: Smart meters, video doorbells, or USB charging sockets add modern convenience at low cost.


Final Thoughts: Think Like a Tenant

Maximising appeal isn’t about overspending. It’s about smart presentation, good maintenance, and keeping up with what modern renters actually want.

Put yourself in a tenant’s shoes. Would you be happy to move in tomorrow? If not, fix what’s holding your property back.

In a competitive rental market, landlords who invest in appeal enjoy:

Don’t wait until the property sits empty. Start enhancing its appeal today — and reap the benefits tomorrow.

Ready to take the next step? Click here to explore our consultation options and connect with one of our property experts today.

Should Your Address Be On A Tenancy Agreement?

Landlords, did you know that there are over 170 separate pieces of legislation that directly impact the private rented sector? Here at Concentric, one of our big goals is to help educate you to be able to navigate this maze of rules and regulations so that you can stay safe and compliant. 

While you may prefer not to share your residential address with your tenants, did you know that there are laws that govern whether or not you are permitted to withhold your address? The two main rules that apply to your address are Section 47 and Section 48 of the Landlord and Tenant Act (1985). Let’s get into them. 

 

What Section 47 Means To Your Tenancy Agreements

Let’s start with Section 47. Section 47 of the Landlord and Tenant Act of 1985 states that a landlord’s address must be present on all documents that are, in fact, a demand for payment. The document that most commonly falls within the purview of this legislation is your tenancy agreement. This means that you, as a landlord, have a legal obligation to include your residential address on your tenancy agreement. Is your address present on your agreement currently? If not, you could be falling foul of this regulation. What does this mean? 

Your tenants are not legally liable or responsible to pay any rent they may owe you until you have shared your residential address. The law is clear. If you’re using an agent, you are not permitted to use your agent’s address. Rather, the address on the agreement must be the landlord’s residential address, wherever that is in the world. The reason this legislation applies to the tenancy agreement is that it is, in the eyes of the law, a demand for payment. Until and when you have provided your residential address, the tenant does not legally have to pay. It makes sense that you, as a landlord, may feel some reservations about having to share your home address with your tenants. However, in the private rented sector, this is a given right that the tenants have been legally granted. Section 47 grants tenants the right to identify the person from whom they are renting. 

Moreover, if the tenant makes a formal demand, in writing, to you as the landlord or your agent, each party is obligated to respond to that request within 21 days. As we have already mentioned, failure to supply the information within that timeframe could result in the tenant refusing to pay rent until the information requested has been provided. In that situation, the tenant would be in their full legal rights to withhold payment from you, the landlord. 

 

Why You Need To Know About Section 48

The other significant rule that impacts whether or not a landlord must share their address is Section 48 of the same law. Again, this section focuses entirely on the landlord’s address. However, in this case, the legislation refers to an address being given to a tenant in England or Wales for the sole purpose of serving notice to that tenant. In this case, landlords have more flexibility, as the address can be that of your agent or your place of business, depending only on your preference. If you are a company landlord, then the address to provide tenants, under this section, would be the registered address of the business.

Ultimately, these sections of the Landlord and Tenant Act of 1985 do not carry penalties or fines if you are in violation. However, that does not mean that they are inconsequential. The ultimate penalty could be that your tenant simply chooses not to pay the rent. In that event, the law would not require the tenant to pay until the residential address of the landlord was provided. 

 

Conclusion

To recap, Section 47 places a clear obligation on landlords to provide their residential address to their tenants on their tenancy agreement and on any other documents that are payment requests. Section 48 requires that landlords share their business address (or the address of their agent) when serving notice to tenants, only when the tenants reside within England or Wales. 

We hope that you’ve found this information useful. It’s important to always stay informed about legislation so that you can remain in compliance and continue to serve your tenants. If you’re curious about where you can get more information on the latest and most important legislative updates, our very own Dawn Bennett hosts a quarterly webinar where she drills down into a variety of the many pieces of legislation that apply to our industry. 

What Is The Rental And Property Investing Market Like In Liverpool Right Now?

We have let thousands of tenancies, worked with hundreds of investors, and managed hundreds of properties, helping landlords navigate the local Selective Licensing schemes since their inception in 2015.

Like tenants, landlords and investors come in all shapes and sizes, have different levels of experience, and have different wants and needs, but there are a few questions that we get asked all of the time, and right now, it seems like everyone wants to buy property in Liverpool and the surrounding areas... and I can see why.

We have been instrumental in letting property in and around the west of Liverpool for over 10 years now, our focus; to work with the landlord investors in the area.

We have let thousands of tenancies, worked with hundreds of investors, and managed hundreds of properties, helping landlords navigate the local Selective Licensing schemes since their inception in 2015.

Like tenants, landlords and investors come in all shapes and sizes, have different levels of experience, and have different wants and needs, but there are a few questions that we get asked all of the time, and right now, it seems like everyone wants to buy property in Liverpool and the surrounding areas... and I can see why.

There's a lot of investment opportunity in the area with great property prices compared to many other city locations, and will generate fantastic income (and now capital) returns.

So, if you are thinking of buying a property in the area, here are a few questions you should be asking yourself.

 

What are the most in-demand areas from tenants at the moment?

The top areas that are most in-demand from tenants right now are Bootle, Walton & Fazakerly.

 

What sort of property cannot you get enough of? 

There appears to be a real shortage of 2/3 bedroom houses, maybe because people want more space or a place to work from home, we have all experienced being locked in, and a 1 bed flat can become less desirable. 

 

Where are most investors looking to buy at the moment? 

Most Investors are looking to buy property in Bootle & Walton, which ties in nicely with the increased tenant demands we are seeing. 

 

What rent increase levels have YOU seen in the branch? 

With rents across the UK increasing on average by 8.5% (according to Homelet), we have seen rents across the board here increase by at least 10% over the last year and in some cases a lot more! 

 

What property price increases have you seen in your area?

According to the Liverpool Echo, Liverpool has the fastest rising house prices of any UK city. This year is set to be the busiest for the UK housing market since 2007, with Liverpool topping the house price charts at 10.6% and some areas such as Toxteth maxing out at over 20% in just 12 months.

 

Are unfurnished properties renting better than furnished? 

We find that most properties rent better if they are unfurnished, that is unless they are a house share or student accommodation, then of course furnished is best.

 

What are the key features tenants are asking for right now?

Of course they still want the usual, a good location that feels safe, a nicely presented property that’s clean and has good access to facilities and transport, but this year we have seen a rise in tenants asking for gardens, and to be allowed pets (probably due to the experience of lockdown), and with HMO’s they really do all want en-suite facilities (due to becoming more germ aware). 

 

How many applications from tenants are you getting per property?

During most of 2021, we were seeing around 10 applications from tenants per property, however, this year it has more than doubled, we seem to currently (January and February) be getting up to 25 pre-applications for each property, it's gone crazy!

 

If you were looking to buy a property right now Elisha, what would you buy?

If I was to buy a property now, I would definitely be looking to secure a 3-bedroom terraced house for around £130k, generating me a monthly rent of around £750pcm which results in a 7% gross yield, because I know I could rent it over and over again with zero problems and get good quality tenants.

 

What sort of landlords are buying at the moment?

It seems all types of landlords are buying at the moment, from 1st-time landlords, those with 1 or 2 properties looking to expand their portfolio and large landlords alike, it feels like everyone is buying right now, it’s a very busy market, driven in the main by the huge increase in demand and the shortage of stock out there.

 

What’s the big challenge for the Liverpool market at the moment?

It has to be the introduction of another Selective Licensing scheme across Liverpool from April 2022. This is going to be an additional cost and more paperwork for those landlords in the areas affected, but we have been through this before with Sefton, so we are ready to support our landlords through it.

If you have any queries regarding any of the subjects covered in this article or want to learn how the introduction of the new Selective Licensing laws could effect you as a landlord in the Liverpool area, we're running and inviting you to a free-to-attend webinar on the 23rd March 2022 at 18:30. On the webinar, we will cover all the nitty-gritty details you should 100% be aware of.

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Electrical Certificates – why every landlord should have them

The risks

Imagine if you picked up the phone in the middle of the night to be told that there was a fire at your rented property. As horrific as that news would be, one of the first things that the fire department, the police, and the insurance company would check is whether or not the electrics and electrical appliances within the premises were safe, or whether they could have been the cause of the fire.

And if that were the case, who do you think liability would automatically be with?

If you fail to produce a valid electrical certificate, it could very well be you, the landlord. That would mean that not only do you risk prosecution, but it’s highly unlikely that your insurance would payout.

But, if you have a valid, up to date certificate from a qualified electrician, then you have proof that you have done everything you can to ensure that the electrics in that property are safe. In that case, liability would no longer lie with you as the landlord, but with the electrician, as the question would be whether he had completed the work properly, or with the tenant, who has a responsibility to take care of the property while he or she lives there.

Is it law to have an electrical certificate for my property?

It will be, as right now Government are in processing a law which will mean that all rented properties will have to have electrical checks every 5 years. However, until that time, most agencies are recommending that their landlords get ahead of the game and make sure that all new tenancies start with a valid and up to date electrical certificate, before the tenant moves in.

That’s because, under the Consumer Protection Act Section 37 and Section 19, you have a responsibility to guarantee that your property is safe and fit for tenants to live in. And having an electrical certificate is part of that responsibility.

What will the new law mean for landlords?

Landlords will be required to have electrics checked in their properties every 5 years. This is mandatory, and must be carried out by a qualified electrician. This will be phased in over 24 months; in the first year, all new private tenancies will be affected, and in the second year, all existing private tenancies will also have to adhere.

If a property has recently had an electrical installation condition report (EICR) and has a valid certificate, then the property will not be required to have an inspection until 5 years has lapsed since the date of issue.

What will the required checks include?

The new legislation will require 5 mandatory recommended electrical safety features, which are:

What’s the difference between an EICR and a PAT test?

When we talk about getting an electrical certificate for your property, we’re really talking about the EICR – this is a test carried out by a qualified electrician, and tests the infrastructure of the properties electrics. As detailed above, this includes the wiring, units, plug sockets and switches etc.

A PAT test is really there for the appliances within that property. That would be anything that you include as portable appliances in the property, which might be things like a fridge or freezer, electric oven, dishwasher etc. It’s not mandatory for you to have a PAT test, but some landlords like to get one if they do include these appliances, as again, it provides an extra layer of cover if anything should happen.

In conclusion

While it’s not law to provide an electrical certificate at the time of writing, it’s highly recommended that you obtain one. It’s a small price to pay for peace of mind that your property is safe, and that you won’t be held accountable if something should go wrong.

The Government will be changing the law on this soon, so get ahead and make sure that you’re properties are protected, if not on existing properties, but on all of your new tenancies going forward.

If you are looking to keep all your properties safe by staying compliant with current legislation, click HERE to download our FREE compliance checklist.

Are More People Renting In Their Home Towns?

There have been several reports recently suggesting that young people are opting to rent closer to where they grew up, rather than relocating to search out better job prospects. These same reports say that this is largely down to the steep rise in rent over the past 20 years – but how true are the claims, and what does it mean for landlords with properties in less affluent areas of the UK?

What the report says

Young people between the ages of 25 and 34 were surveyed, and the facts show a drop of 40% in the number of people in that age group who chose to relocate to find better paying jobs. Instead, they were opting to stay either in their home towns, or where they attended university.

As has always been the case, the big bucks are found in the bigger cities, such as London, but more and more young people are finding that even if they land on of these high-paying jobs, the additional salary earned will be swallowed up by the high rents. In this, they are finding that taking jobs which pay less, but are in smaller towns, is their only option.

An overview

The report shows that back in 1997, people moving from the suburb of Telford to Birmingham could expect a 14% increase in median income, but in 2018, that had dropped to -1%, after taking into account rental payments.

The story is the same across the country – Scarborough to Leeds sees a drop from 29% to 4%, and East Devon to Bristol drops from 19% to 1%.

And, it seems, that young people who already live in larger cities are being forced out and are looking for opportunities is smaller towns and suburbs in order to afford better housing.

Young people are no longer footloose

There is a belief that young people are able to pick and choose where they work, and are attracted by the higher salary jobs in bigger cities, but this research is suggesting that this trend is very much in decline. People are realising that if they want to take these jobs, then they are in fact less well-off due to the price of rents in these areas. This means that they are often searching out similar, lesser paid roles in their local towns, where they will get more for their money, and are able to have more cash in the bank.

Out-of-City landlords

There are some city-based landlords who are choosing to diversify and buy properties to rent in other areas, and trends suggest that those landlords who do have properties in these areas are beginning to see local young people and families are more likely to stay within their hometowns, and also rent for much longer terms.

This could be great news if you already have a portfolio of properties in these areas, because it means that more young people will be settling in these towns, and therefore are more likely to raise families there.

Those areas which are within easy commute to cities such as London, Birmingham, or Manchester, for example, offer tenants the option of lower rents, while still being able to commute to city jobs, and so giving them the best of both worlds so long as they can afford it. But there are still a proportion who opt to work for localised companies, and so towns which can offer affordable housing with the promise of jobs are the ones who will fare best.

A new era for letting

With a massive 5.5 million renters saying that they are simply unable to afford to buy their own property, we are truly in an era where we, as landlords and agents, are in high demand. And if we can offer tenants affordable, high quality homes in areas where they can be assured of good job prospects, lower commutes, and closer to their family and friends, then it’s a win-win situation.