What is selective licensing? And what could it mean for landlords?

The aim of Selective Licensing is to cut down on the number of ‘rogue landlords’, to improve living standards and address challenges surrounding any anti-social tenants. Under the system, any landlord who fails to apply for a license for their property/properties or doesn’t achieve acceptable management standards will be the subject of enforcement action.

This is only happening in certain areas of the country at the moment, including certain areas of Nottingham. Here at HM Lettings and The Nottingham we can guide you through this process. Our Network Lettings Manager, Stephen Reade gives his guidance “As an established letting agency that is part of one of the country’s biggest mutual building societies, The Nottingham, we are absolutely committed to, and support the idea of, improved living standards for people and fully understand landlords need to keep a close eye on yields.

“We want to be forward thinking by informing landlords about what could happen in the future and the possible implications for them. Ultimately there is a real fear that these increased costs may be passed on to tenants in the form of higher rents as landlords have already had higher tax implications.

“That’s where we feel our expertise in this sector can help - we want to be having conversations about this with landlords, and potential landlords, to help answer any questions they may have and work towards ensuring their investment doesn’t become a liability.

“Landlords shouldn’t bury their heads in the sand on this one - Selective Licensing could be coming their way and may already have reached them and we can assist them. We welcome the conversation and are more than happy to pop the kettle on and have a discussion with anyone who has any questions or concerns.”

You must now have a licence to rent your property within certain Nottingham City Council areas. Anyone who owns a privately rented home in the certain Nottingham areas should applied for or received a licence by now. If you have not submitted an application already then you may now be liable for the £30,000 fine. The deadline for applications was 1st August 2018 if the landlord was not granted an extension if they have over 40 properties or if they were letting agents with a portfolio of over 120 properties submitting applications on behalf of their Landlord clients.

The areas in Nottingham where Selective Licensing now applies are: Arboretum, Bestwood, Bulwell, Bulwell Forest, Basford, Berridge, Bridge, Clifton North, Clifton South, Dales, Dunkirk and Lenton, Leen Valley, Mapperley, Radford and Park, Sherwood, St Ann’s, Wollaton East and Lenton Abbey.

Remember that you will have to achieve the approval for your license by having the following;
  • Public liability insurance
  • An electrical safety certificate (optional but advisable) 
  • A valid gas safety certificate 
  • An EPC (Energy Performance Certificate) -Above an ‘F’ rating 
  • A PAT test for portable appliances in the property

Speak to us at hmlettings.co.uk today.


WEB_TN_Glass


Last updated on:
Next review:
Originally published on:

Sign up to our newsletter

We regularly send out newsletters with product information, advice on improving your finances and top tips. If you would like to receive this please sign up to our newsletter, which you can unsubscribe from at any point.