The above photo is a true photo of before and after makeover, rent difference 280 pcm, rented in 2 days, how would your property be rated?

There is a lot to be said for ratings and reviews. Given that many people lead busy lives, being able to get a quick insight into something is often invaluable. This is true for many things in life and you can see why a quick appraisal would be of tremendous benefit to people looking for rental accommodation before they make an investment. If there is a lot of property to consider, being able to narrow down your options quickly can help you save time without looking at unsuitable or unpleasant options.

This news should also be of benefit to landlords and private investors. If you have property that is in good condition, you want as many people to know about the property as possible. This can act as an incentive to landlords and investors because you know if your property is being evaluated and placed alongside comparable properties, you need to make sure your property scores well or people will switch to other options. With a serious investment at stake, it makes sense to maximise the return from this investment.

A new scheme can help tenants find their ideal property

This is the backdrop of a scheme that has been launched in Sandwell, so it isn’t something that Brixton property investors, landlords or tenants need to consider just yet, but you can see how this would be of benefit to the market. Properties in the area are being rated between zero and five stars, and obviously you will be drawn to the five-star properties at first, and if your property is classed as a zero or one-star property, it is likely that it will be overlooked by many people.

This new system comes under the Assured Landlords Scheme and private rented accommodation, agents and landlords in the borough will be reviewed and then judged. If a property achieves a score of three stars or higher, it will be placed on a website that is managed by the local council, providing promotion for the property. This benefit offers a further incentive for landlords and investors to improve the condition of their property because this could become a portal that tenants look at first when searching for property in the local area.

Reward landlords that carry out excellent work and make an investment

There has been a clear movement towards penalising landlords and property that under performs and landlords that do an excellent job are being rewarded. This is an outcome that most people are keen to see, and it is fair to say that tenants will benefit from this approach. With the cost of renting increasing for many tenants, it is important that these tenants receive value for money, and a better review system will significantly increase the likelihood of this happening.

Landlords will be able to list their property or properties and the first stage sees the landlord carry out a self-assessment. This will then be followed up by a review from a local officer and if this subsequent review sees the property being classed as lower than three stars, the property will be removed from the site. As for the rating system, the following principles are important:

• Property
• Maintenance
• Legal compliance
• Investment in the area
• Continued professional development

As you would expect, it will not be easy to obtain a five-star rating, although proper investment can help. The wording for a five-star rating suggests that these will only be when the following criteria is met, “exemplary landlords/agents and property, displaying elevated levels of management for tenants and property, goes over and above legal requirements.” It clearly takes a lot to earn the highest rating, but this is something that all landlords should be aiming for as this will allow them to charge a higher level of rental fee.

If this scheme is a success, it is likely that it will be replicated across England. This means landlords should consider the benefits of improving their property and offering the best standard of service to their tenant.