So you want to get a buy to let in Liverpool? There’s a great deal to consider, including researching the areas, council regulations and safety issues.
Research the areas within Liverpool
Liverpool is no stranger to the world of Buy to Let, with the L1 postcode serving as a hotspot for aspiring landlords and investors. Liverpool is a worthwhile investment, as it is a notable location for corporate prospects, but part of its allure is due to its fantastic private housing sector. The Baltic Triangle, which is adjacent to the coastline, and the Ropewalks area are popular portions of L1. Both sites are crowded with shops, pubs, and cafes and have appeared on lists of the coolest neighbourhoods in the UK. Other than the L1 postcode, other city centre areas include L2 and L3. The L2 postcode region encompasses the northern portion of Liverpool city centre and includes some of the city’s most prestigious commercial properties, as well as elegant residences and hotels. The Cavern Club, Moorfields station, and Liverpool Town Hall are also included. It’s always good to have a look at upcoming projects and areas that are undergoing regeneration as you will have a strong advantage on your side. The stadiums of Liverpool and Everton football teams are in the L4 postcode area in the city’s north. There are two large parks in the region as well. The area is traversed by the Canada Dock railway line. There would be a lot of football lovers in the neighbourhood, so you wouldn’t have to spend much time hunting for a buyer.
Consider looking at property for students
The population of Liverpool’s city centre has expanded faster than that of any other UK town or city, although the number of people living in Liverpool has grown faster than the number of new dwellings being built. Over 66 percent of residences in Liverpool are privately rented, with young professionals accounting for 50 percent of all tenants. Liverpool has a thriving property market and is often regarded as a buy-to-let hotspot in the United Kingdom. Landlords benefit from high student populations, and Liverpool has one of the largest student populations in the country, with over 57,000 pupils. Some popular areas in Liverpool for student lets include Liverpool city centre, Wavertree, and Sefton Park. Wavertree is home to the Wavertree playground, a huge park, and an athletics track, among other important Liverpool attractions. The 79 and other major bus routes are also close by. Along High Street in Wavertree, there are various bars and clubs. Because of its proximity to the city’s three universities, Wavertree is an excellent choice for any Liverpool student. Sefton Park, just a few minutes from the city centre, is one of Liverpool’s most lovely sites. This neighbourhood is home to Liverpool’s largest public park, which holds a variety of festivals and significant events throughout the year. The Palm House building, a three-tier conservatory, the Field of Hope, and the Eros Fountain are all located in the park. Lark Lane is in Sefton Park, a prominent student neighbourhood in Liverpool. Choose from a variety of cafes, pubs, bistros, boutiques, and music venues. In the Sefton Park area, Luxury Student Homes features various properties that are excellent for outdoor enthusiasts. Wavertree and Sefton Park both can bring in yields 4%.
New council regulations landlords should be aware of
A new Landlord Licensing Scheme will cover rental accommodation in most areas of Liverpool to address the issue of poor property conditions and ensuring landlords are ‘fit and proper.’ Landlords with homes in some districts of Liverpool will be required to have a licence starting April 1, 2022, until the system expires in 2027. The project attempts to increase the level of Liverpool’s rental dwellings by requiring landlords holding properties in affected districts to guarantee that they meet the Housing Act 2004’s minimum standard.
Landlords must apply for a licence for each privately rented property in 16 Liverpool City Council wards to comply with the Landlord Licensing Scheme. These are the wards:
Anfield, Central, County, Everton, Fazakerley, Greenbank, Kensington, Fairfield, Kirkdale, Old Swan, Picton, Princes Park, Riverside, St Michael’s, Tuebrook and Stoneycroft, Warbreck and Wavertree.
Before you begin
Make sure you have all the necessary paperwork before you begin your application
- Evidence/proof of residence
- Certificate of gas
- Property information
- Tenancy information
- Information on safety
- All interested parties’ names, addresses, and emails
- Knowledge that is ‘fit and suitable’
How to apply
You must first create an account on the Licensing and Regulations (LAR) system to apply for a licence. You may then view the application form as well as instructions on how to fill it out. You can check the progress of your application, make a payment, and ask questions once you have an account.
If you enjoyed this article you might also like to read about Can you rent out a mortgaged property?