What Makes Newcastle A Good Place To Invest In Property?
Choosing where to invest, as a Landlord, has its challenges. Investing in property in Newcastle upon Tyne comes with strong opportunities. The city of Newcastle has an increasingly high rental demand, with many young professionals drawn to the cities vibrant culture. Another large demographic of the city are students. Home to Newcastle University and Northumbria University, the universities and Newcastle estate agents home around 60,000 students. As a local leading agent for professionals and students, we see year on year, the increase in demand for rental properties within locations such as Jesmond, Heaton, Sandyford and Newcastle city centre for students and areas such as Jesmond & Gosforth for professionals. Surges in searches for properties such as two bedroom apartments to rent in Newcastle and Tyneside flats are showing no signs of slowing down.
What Newcastle Landlords Need To Know:
Now that we have covered why Newcastle upon Tyne is a great place for Landlords to invest, we can delve into the responsibilities and legal obligations of Newcastle Landlords. Being a Landlord in general comes with its fair share of challenges from finding and referencing tenants to maintenance emergencies. Another area to be aware of is your legal obligations and responsibilities as a Landlord with a property in Newcastle upon Tyne. Within Newcastle upon Tyne there are three Licensing schemes in place.
What Licensing Schemes Are In Place In Newcastle?
Mandatory HMO licensing:
This was introduced nationwide by Central Government in 2006. The definition was extended in October 2018 to 5 or more occupants forming 2 or more households.
Additional licensing (HMO):
This is Local Authority designated and can apply to certain types of HMOs and can be area based or citywide. This is required when there are 3 or 4 occupants forming 2 or more households.
Selective licensing schemes:
Also Local Authority designated and includes all privately rented property, and can be area based or citywide. This is applicable to 1 or 2 occupants forming 1 or 2 households.
Why Does My Newcastle Property Need A Licence?
The Housing Act 2004 introduced this new definition of a House in Multiple occupation and the main impact it has was to encompass shared student accommodation, which previously hadn’t been governed by any such legislation. The government intended that only larger high risk HMOs be subject to mandatory licensing from 6th April 2006. These properties were ones that comprise of 3 storeys or more and house 5 or more persons from 2 or more households. In 2018 however, the storey rule was removed, and any house or flat with 5 or more persons from 2 or more households requires a Mandatory licence. In addition any part of the building not used for residential purposes, such as commercial premises within the building will count towards the number of storeys.
How Can Pat Robson & Co. Assist You With Your Licensing?
With a licensed property in Newcastle comes the need for applying and renewing your licence as well as regular compliance checks. This added hassle and stress for Landlords is something our experienced Property Management team can take care of for you. When you join our Full Management service, your dedicated Property Manager can take care of the following:
– Carry out a full compliance check to ensure that both you and your tenants are meeting the licensing requirements
– Instruct and oversee any works which are required
– Apply for the licence application (administration fee applies)
– Apply for a licence renewal application (administration fee applies)
To find out more about how we can help you when it comes to preparing your investment property for the Newcastle rental market, click here. Alternatively you can call our dedicated Landlord line on 0191 20 90 100 – option 5 for expert property management advice.
How Can Pat Robson & Co. Help You Find Tenants?
Now that your property is ready for the rental market, it’s time to tackle finding the perfect tenants. When looking for the right tenants, marketing your property correctly is key to attracting the ideal tenants. Here at Pat Robson & Co. our Tenant Find Service includes professional photography and video to help promote your property citywide across sites such as Rightmove, Zoopla, patrobson.com and our social media channels. We then conduct referencing on our applicants to ensure they pass affordability criteria and right to rent checks, another legal requirement. We then draw up a tenancy agreement between the Landlord and Tenant stipulating the terms of agreement to their tenancy. With the Renter’s Right’s Bill changes fast approaching, we are able to take care of this for you to provide clarity to the situation.
To find out further information regarding our all inclusive Lettings service, click here. Or alternately you can contact a member of the Lettings team at [email protected]
Pat Robson & Co. Property Management:
Now that your tenants have been secured by our Lettings Team, here at Pat Robson & Co. your property will be passed along to our Property Management team. We have a range of Landlord services available for Newcastle & North East Landlords. Our Full Management Service offers Landlords a worry-free property management solution, handling every aspect of the rental process from start to finish. We act as the primary point of contact for your tenants, managing all communications to ensure their needs are promptly addressed, taking the time-consuming upkeep off your hands.
In addition to the services mentioned, we take care of contacting utility companies and the council tax department at the beginning and end of each tenancy to ensure seamless transitions. We prepare an electronic inventory and conduct check-in and check-out appointments to meticulously document the property’s condition. Regular periodic inspections and ad hoc property visits are carried out to monitor and maintain your property’s standards, with a detailed annual property health check compiled for your review.
Our team handles the renewal of safety certificates upon expiry and offers an out-of-hours service to address urgent matters promptly. We liaise with external contractors on your behalf, coordinating access and overseeing any refurbishment or maintenance work needed, including end-of-tenancy tasks. For Landlords with HMO properties, we complete documentation audits and manage licence applications and renewals. We also handle the serving of all legal notices, deposit registration, end-of-tenancy deposit communications, and facilitate deposit dispute resolution and release.
With our Full Management Service, you can entrust your property entirely to our professional team, allowing you to enjoy the benefits of your investment without the day-to-day management responsibilities. As you have read, being a Landlord of a property or portfolio of properties can be a stressful role to take on. Which is why having an expert managing agent to handle those responsibilities for you is so valuable.
With 6 Months Free Property Management, there has never been a better time to join our Full Management service. Give us a call today on 0191 20 90 100 – option 5 or email us at [email protected]
Frequently Asked Questions (FAQ):
What does a Property Manager do in Newcastle?
A Property Manager handles tenant communication, maintenance of the property, rent collection, legal compliance, and more.
Do I need a licence to rent a property in Newcastle?
Depending on your property type and location, you may need a Mandatory, Selective or Additional Licence.
How can I attract good tenants?
Professional marketing, competitive pricing, and thorough referencing help attract and retain quality tenants.
What areas do Pat Robson & Co. serve?
We manage properties throughout Newcastle, including Jesmond, Heaton, Gosforth, Sandyford, and city centre locations. As well as extending our portfolio across the North East into Durham and Northumberland.
Can Pat Robson & Co. Manage Multiple Properties For Me?
We offer tailored management packages for landlords with portfolios of all sizes as well as offering a reduced management fee for Landlord’s with three or more properties.
