Student housing across the UK is facing a new threat. As a parting shot by an outgoing government, planning powers were brought in that required planning permission to be applied for if you want to change the use of a property from single use to multiple occupancy. This effectively removed this permitted development right.
At the time the Shadow Housing minister said this would be overturned when his party took power. This happened - to a point - however the new government made it easier .
Individual councils were given the choice of requiring planning permission for this change of use, by invoking Article 4 powers. Like the approach to student fees ("I'm sure most of them will not want to charge £9,000 per year"...) the government probably did not think most university cities would want these powers. Unfortunately they did, and still do. Cantebury, Durham, Exeter, Leeds, Loughborough, Manchester, Nottingham, and many more, have these powers. Nottingham seems to go one step further and appears to be refusing all applications on principle.
This is killing the marketplace for multiple occupancy property in these areas. By doing this it locks in the existing bad landlords (who may want to sell) and dissuades new landlords - with new money - from entering into the sector.
There are a number of good reasons to put controls on HMO properties. Anti social behaviour, lack of property standards, low quality landlords, etc. However these are already catered for within the existing legislation which work well. Article 4 powers have given councils the power to restrict the supply of HMO properties at a time where there is an increasing need. Young professionals and students have a valid need to share housing, as they get to share the high cost of housing and enjoy independent life. There is also a growing market for housing benefit tenants for LHA (again caused by a disasterous government decision to increase the age at which you are only entitled to a shared room rate).
Landlords do have a right to reply. Write to your local MP. Lobby your local landlord assocation (The RLA is particularly active nationally, and there are many good local associations - SPLA, NLA, NWPOA).
Finally add your name to an e-petition for this purpose:
http://epetitions.direct.gov.uk/petitions/34625
Friday, 7 September 2012
Monday, 20 August 2012
Update on the student lets and the direction for the student market
It has been a busy few months at Topproperty Services. We have taken on a few new properties, in great locations.
We have been working with a number of investors to purchase, renovate and manage new student properties. These have been rolled into our management cycle and have all rented. Amongst them are a number of standouts - two properties in the L7 area have been completed and are ready for move in - these are on Saxony Road and Albert Edward road, and have been renovated to an exceptional standard.
We have also almost completed the refurbishment of a four bed student house - with a choice of decor by the tenants - on Romer Road, in L6. This is a truly exceptional student house, with a massive kitchen, ultra modern bathroom and four very large bedrooms.
There are still a few student houses to let and we are being proactive in getting these rented - our back office team is working hard at booking in and attending viewings, as well as managing the deposit returns from outgoing tenants and prepping the properties for the upcoming move ins!
If you are an investor looking to make further investments in Liverpool, or an investor making your first purchase in Liverpool, please give our management team a call. Simon Topple, one of the managing partners of Topproperty Service is an experienced student landlord and investor and is well placed to give you up to date market advice and help you in turning a new purchase into a solid investment.
We have been working with a number of investors to purchase, renovate and manage new student properties. These have been rolled into our management cycle and have all rented. Amongst them are a number of standouts - two properties in the L7 area have been completed and are ready for move in - these are on Saxony Road and Albert Edward road, and have been renovated to an exceptional standard.
We have also almost completed the refurbishment of a four bed student house - with a choice of decor by the tenants - on Romer Road, in L6. This is a truly exceptional student house, with a massive kitchen, ultra modern bathroom and four very large bedrooms.
There are still a few student houses to let and we are being proactive in getting these rented - our back office team is working hard at booking in and attending viewings, as well as managing the deposit returns from outgoing tenants and prepping the properties for the upcoming move ins!
If you are an investor looking to make further investments in Liverpool, or an investor making your first purchase in Liverpool, please give our management team a call. Simon Topple, one of the managing partners of Topproperty Service is an experienced student landlord and investor and is well placed to give you up to date market advice and help you in turning a new purchase into a solid investment.
Friday, 13 April 2012
Topproperty - latest news
Its been a busy few weeks here at Topproperty. We have taken on around 18 student properties in the last 6 weeks with two more coming next week. A four bed property in Romer Road, L6 and a new instruction on Holland Street, L7. The Romer Road house will undergo a full refurbishment, including new kitchen/dining area (which is massive) with high gloss floor tiles, large lounge, four double bedrooms and a stylish modern bathroom, and the Holland Street is a massive semi detached house with loft conversion.
These property instructions, coupled with our continued success in the L6 area, point to Kensington being the location of choice for students wishing to get a larger property at an affordable price. The improvements to the area (Tesco express, etc), along with the long standing bus links, are making Kensington a superb choice and we think it will continue to grow in popularity.
If you would like Topproperty Services to take a look at properties in the L6 and L7 areas please do not hesitate to contact us. We are one of the largest student agencies in the Liverpool area with properties to suit all budgets and are having one of our best years so far. Call now on 0151 733 2200!
These property instructions, coupled with our continued success in the L6 area, point to Kensington being the location of choice for students wishing to get a larger property at an affordable price. The improvements to the area (Tesco express, etc), along with the long standing bus links, are making Kensington a superb choice and we think it will continue to grow in popularity.
If you would like Topproperty Services to take a look at properties in the L6 and L7 areas please do not hesitate to contact us. We are one of the largest student agencies in the Liverpool area with properties to suit all budgets and are having one of our best years so far. Call now on 0151 733 2200!
Tuesday, 10 January 2012
New student properties coming
Topproperty Services will have a number of new student homes coming available in the next dew weeks.
Exertion Street, Georgian Quarter. A number of purpose built 4 and 5 bed student homes, located in the Georgian Quarter. Rent from £80 per week including bills.
Highgate Street, Edge Hill. A number of recently refurbished 2 and 3 bed student houses, located a stones throw from the University. Rents from £73 excluding bills.
Watch this space for further updates!
Exertion Street, Georgian Quarter. A number of purpose built 4 and 5 bed student homes, located in the Georgian Quarter. Rent from £80 per week including bills.
Highgate Street, Edge Hill. A number of recently refurbished 2 and 3 bed student houses, located a stones throw from the University. Rents from £73 excluding bills.
Watch this space for further updates!
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