Are you currently letting a property in Nottingham city centre?
Nottingham City Council (NCC) announced a 10 week Selective Licensing consultation. The consultation period began on 16th January and will end on 31st March 2017, with the scheme being implemented in February 2018.
In summary, NCC believes the private rented sector (PRS) suffers from numerous deep rooted problems, including high levels of anti-social behaviour and property disrepair and that a citywide selective licensing scheme will assist the authority in dealing with these problems.
The scheme will mean the licensing of 26,250 rental properties across Nottingham City. (In other words every rental property which is not regarded as a House in Multiple Occupation) The cost to the sector will be £600 per property, plus additional costs to comply with over 30 conditions. Essentially, the proposed scheme will remove £16m from the local sector and enable the council to employ 74 additional staff to deal with the administration, enforcement and property inspections under the scheme.
Letting Agents Walton & Allen believes the proposed scale of this scheme is unnecessary and will have wide ranging consequences for your rental investment business and the wider PRS in Nottingham. EMPO will be attending an urgent meeting with the council to discuss the impact this scheme will have on buy-to-let investment, rent levels and housing supply in Nottingham.
Like us, if you believe this proposed scheme will adversely impact your business activities in Nottingham, please help us in “beating the drum” by mobilizing your landlord and tenant relationships into responding to the consultation.
HAVE YOUR SAY
Please visit The Nottingham City Council website at http://www.nottinghamcity.gov.uk/housing/private-sector-housing/selective-licensing/ as this has a great deal of information about the scheme. You will also be able to put your views to the Council through the online questionnaire.