Liverpool Council Launch New Landlord Task Force
With increasing demand for private housing, Liverpool’s housing rental market has experienced significant expansion. This growth is largely due to landlords recognizing the robustness of the market. Nevertheless, this increase in the market has not come without its difficulties, as it has also drawn the attention of some less-than-ethical landlords.
Demand Outstripping Supply
Demand for rental properties in Liverpool has never been higher, leading to increased rental income for property owners. This, combined with the continuous revitalization and development projects throughout the city, has introduced more available properties to the market, which are being quickly leased. While the majority of landlords in Liverpool conduct their businesses ethically, providing high-quality services and properties, there has been an increase in the number of disreputable and even unlawful landlords offering rentals.
To address this issue and uphold high standards in the Liverpool rental arena, as well as to safeguard tenants dependent on such housing, the Liverpool City Council has recently initiated a new task-force. This task-force, funded by a £2 million government grant, aims to confront landlords who take advantage of tenants. The main objective of this recently formed task-force, known as the Private Sector Housing Intelligence and Enforcement Task Force, is to interfere with the activities of landlords engaged in criminal behaviour.
This could lead to these landlords being prohibited from managing properties. The task-force’s effectiveness is expected to elevate the quality of the Liverpool rental market. The task-force will collaborate with various agencies, including law enforcement and child welfare services, to handle complex cases. They may also reach out to neighboring local authorities, especially in situations where landlords own properties in multiple areas.
Sarah Doyle, the cabinet member for housing, has outlined several examples of criminal landlord behaviour. These include using rental properties for illegal activities such as drug storage or human trafficking, and performing unauthorized work on the premises. Doyle emphasized the negative impact of such activities on communities, neighborhoods, and directly affected individuals. “People can feel scared to go out of their homes,” she stated. “Streets where once kids used to go out and play, businesses might want to move out because they feel the area is being run down. One property can change the dynamic of a place.”
This initiative is separate from the existing landlord licensing scheme in Liverpool, though both aim to enhance the rental market for tenants and landlords alike. Currently, approximately 70% of the city’s rental properties are covered by a licensing scheme. The Liverpool rental market has become increasingly attractive to property investors, both domestically and internationally.
Liverpool Investment
It’s often cited as one of the most lucrative markets in the UK in terms of rental yields. Significant investment and regeneration projects, like the Liverpool Waters project, have transformed large parts of the city, creating new homes and job opportunities. The city is a magnet for thousands of students each year due to its premier universities. Young professionals are also drawn to Liverpool for its affordability, job opportunities, and vibrant social scene.
Liverpool was recently ranked as the top place to live and work in the UK in a OneFamily index, scoring highly in affordability, lifestyle pace, citizen happiness, and city pride. The Liverpool rental market’s appeal may have been further enhanced by the recent increase in borrowing costs. In Liverpool, the cost of properties continues to be relatively lower than in many other large cities across the UK, rendering it a compelling choice for both experienced and novice buy-to-let investors.
