Designing for the discerning landlord and their tenants
Managing a portfolio of rental properties can be demanding and requires regular review in order to respond to market needs and regulatory requirements. While it’s often assumed that the money someone puts into purchasing and renovating a property to let begins to pay for itself with minimal overheads, it’s very rarely the case and there’s actually quite a lot to consider.
For instance the area, property type, local amenities and condition are just a small number of considerations landlords make when seeking the ideal property to add to their business. Good landlords do things properly, considering any new purchase as a venture and developing a business plan or, at the very least, a case to weigh up the pros, cons, risks and opportunities.
Our work at a property on Walter Road SA1 illustrates a real-world example of how smart landlords react to to change. Once a thriving cafe/bar, the test of time, regeneration and a noticeable shift in the way we socialise saw the use of the building become redundant. All the while, demand for living accommodation in the area rose due to a number of factors not limited to but including the growth of the city’s two universities and employment opportunities.
The property owner and landlord approached Starki about changing the use of the ground floor to living accommodation from its classification as a cafe/bar. The basement floor had in previous years been adapted as living accommodation and the upper 3 floors a HMO property. We worked with our client to complete a thorough study of research on the property, the area and local planning policy to develop a strategic case for the change of use application it required. We spoke with surrounding properties and liaised with local councillors, Swansea’s planning, enforcement and environmental directorate officers to establish the best route to satisfy all parties and stakeholders, presenting the most effective case for approval.
Once completed, we presented our findings and the possible options to our client, along with a set of application and design documents suitable for submission to the planning directorate for consideration to grant approval.
Planning permission was granted in February to change the use of the ground floor to living accommodation and we are now working with our client to discharge conditions applied by planning officers to provide plans illustrating the site’s scheme for cycle and refuse storage.
Are you a landlord or property developer? We can help you to realise the true potential of your property portfolio. Get in touch on the link below and let’s work together.