Since 2014, anyone letting a property in the UK has been obliged to complete a Right to Rent check every time they take on a new tenant. As part of the changes to Right to Rent checks, landlords in England are no longer allowed to accept physical biometric residence cards and permits, nor Frontier Worker permits. All holders of these cards and permits in England will have to verify their identity using an online service operated by the Home Office. 

There are legal implications for anyone who does not follow the new laws. It is illegal for landlords to only check people that they think are not British citizens; the government states that potential tenants should not be discriminated against based on speculation about where they are from. 

For now, this change is limited to tenancies in England. For the rest of the UK and Northern Ireland, the Home Office will require tenants to register with a certified identity service provider (IDSP), which will use identity document validation technology (IDVT) to share checks with agents and landlords. 

If you are a tenant or landlord looking for answers, get in touch and we will help wherever we can. 

Low supply and soaring demand fuel high prices for both the sales market and the private rental sector – a truth that makes itself felt by landlords and tenants. 

NAEA Propertymark – a membership body for estate agents – has recently shared data collected by its members to provide a snapshot of the current situation. Interestingly, almost 80% of agencies say rental prices have increased monthly since May. This reflects a wider trend of rising rents over the last 12 months. 

While more properties have appeared on the market since February, agencies are seeing applications from new tenants reach an average of 113 per month – compared to 78 applicants in February. * 

With demand easily matching supply, prices are steadily rising, providing a good opportunity for landlords to enter the market or increase their portfolios. This, in turn, could help balance out the supply issue over time – a win for tenants, too.  

We know some potential landlords are worried about the recently published Renters’ Reform White Paper. However, the proposals are still up for debate before any new legislation is introduced. The Government is also planning to strengthen ‘Section 8’ grounds for possession and improve rights for responsible landlords. 

If you’re hoping to capitalise on the lively private rental market, book a lettings valuation today – you may be pleasantly surprised by what you could achieve. 

Property Reporter * 

While the private rental sector faces huge demand, landlords who listen to their renters’ needs are more likely to attract long-term, conscientious tenants desiring a secure home.*  

So, what steps should landlords take next?

Pitch the price just right 

After financial pressure brought about by COVID-19 and the cost of living crisis, it’s not surprising that 55% of tenants consider price above all else. However, many renters (35%) also prioritise bigger properties, so where is the sweet spot?  

Understanding regional dynamics can allow landlords to balance the property’s worth with affordability considerations. For example, some tourist-heavy counties have a disparity between house prices and local wages as homes are snapped up for the holiday market. Rents based purely on the property’s sale value may exclude local families in these areas. 

A lettings valuation will give you a clear baseline to adjust accordingly, depending on your circumstances and long-term financial goals – and the type of tenant you’d prefer. 

Consider allowing pets 

According to the SMF survey, 18% of tenants seek rentals that welcome animal companions. Compare this to the mere 7% of landlords who actively market their homes as pet-friendly.  

If you’re preparing a new rental property, perhaps think of ways to make it more suitable for pets, such as choosing wooden or tiled floors over carpets, or securing the garden. 

Provide value for money 

Everyone loves a good deal – including renters. Although many tenants have a tight budget, plenty will pay more for high-quality interiors and decent gardens. In fact, the latter was cited as a top priority, especially for those looking to create a long-term home.  

Choose a property near amenities 

If you’re planning to invest in a buy-to-let property, it’s worth knowing that 38% of renters wish to live near their workplace. Public transport facilities and access to shops also factor in for 37% and 36% of tenants, respectively. Therefore, it’s worth searching for opportunities that tick these boxes.  

Want to learn more? Contact us to discuss how to boost your property’s rental potential and book a lettings valuation. 

*Social Market Foundation 

**Paragon Bank 

Permitted development rights are rights to make certain changes to a building without the need to apply for planning permission. They derive from general planning permission granted by Parliament rather than the local planning authority. Unlike applying for planning permission, which can be an uncertain and lengthy process, permitted development rights can provide a straightforward right to development, if predefined criteria are met. This means that approval can often be achieved in less than two months.  

PDR offers the potential for hundreds of Class E premises to be given approval for a change of use into Class C3 and Class C4 dwelling-houses and HMOs. Class E includes commercial and service-use premises in town centres, such as offices, shops, cafés, restaurants, surgeries, nurseries, and indoor gyms. 

To qualify for PDR, the property must have been in use under one of the use classes captured by Class E, for at least two years prior to the submission of the approval application. It must also have been vacant for three months.

If you are thinking of expanding your property portfolio, contact us for a no-obligation valuation. 

*Property Reporter