Selective Licensing fee increases before launch
*Update: Due to the overwhelming response to this post and accompanying email we are taking longer than normal to respond to all queries. Please bear with us whilst we go through all comments and questions.*
Further to our latest posts on Nottingham Selective Licensing, we must inform you that the proposed Selective Licence fees were increased by Nottingham City Council yesterday, as follows;
Full Fee: Increased to £780 from £655
Discounted Fee: Increased to £520 from £400
Landlords (fully managed) of Walton & Allen can benefit from the discounted rate.
Those Landlords who are not with Walton & Allen are urged to contact us on email@example.com, or 0115 924 3304, as we can help you get a discounted rate.
A fair amount of Landlords consider this licensing scheme to be the final straw and are considering selling up.
We are now recruiting for a Selective Licensing Administrator. If interested, please send applications to firstname.lastname@example.org.
What’s your opinion on Selective Licensing?
Nottingham listed as top UK city for buy to let property investment
A report from the latest edition of Private Finance’s buy-to-let (BTL) hotspots has cited Nottingham as the top UK investment city.
Nottingham property investment now sits in joint 1st position with Liverpool due to monthly rents increasing in the city by £121.00.
The report takes into account the top 10 performing cities for gross rental yields, after mortgage costs have been taken into account. Nottingham is listed as having an average 2018 monthly rent of £929 and an average net yield of 6.2% before tax.
Across the country, rents are rising faster than house prices at a rate of 20% compared to 6% (since May 2017). This has seen an overall increase of 0.9% in rental yields overall.
Whilst this is all great news for buy to let landlords, yields could change fairly quickly. Nottingham has seen a large increase in house prices over the last few months and this could be set to continue. This will of course lower the yields if rental prices do not follow suit.
A full list of top buy to let hotspots are in the table below.
Looking to invest in Nottingham?
Do you need a letting agent to manage your properties? Are you looking for your next property investment or your first buy to let?
Talk to our Investments Manager, Ricky, for free, no obligation advice.
Which areas are best for Nottingham Property Investment?
This depends completely on what type of property you are looking for. We can recommend areas or properties with high potential gross yields based on your requirements. Why not get in touch with us to find out more?