After Newham’s pioneering scheme in which 35,000 rental homes were registered, landlords in Waltham Forest are now facing licensing of all buy to let properties. Councillors in the borough have announced a consultation running until January 24, 2014 to invite comments about this new proposal.
There are approximately 100,000 homes in Waltham Forest and around a third of those are HMOs (houses in multiple occupation) or buy to let. It is expected that the new selective licensing scheme would register between 30,000 and 35,000 rental properties. A five-year licence will cost £500, which will be spent on management of the scheme.
A spokesman for the council stated that their main goal was to cut down anti-social behaviour, littering, and illegal activities in properties in the borough to make it a better place for residents and businesses.
Studies have shown that many tenants living in private rental properties are experiencing problems such as overcrowding, poorly converted properties and unfit homes. Licensing will be used to raise the bar for management standards in general and ensure that living standards are improved.
If the licensing scheme is implemented, Waltham Forest will become the UK’s second blanket registration zone after Newham. Newham’s plan began in January 2013 and is already influencing other councils throughout the UK who are said to be considering similar schemes.
Oxford has licensing in place throughout the city for HMOs with three or more tenants, while other cities including Nottingham and Southampton are currently consulting on HMOs.
Call Finefair Ltd on 0208 554 0500 to secure your rental income or alternatively email our team on firstname.lastname@example.org. Don’t forget that when your property is on our leasing scheme, your property is exempt from the council licensing.
Don’t forget we are the approved agents for all Guaranteed Rent schemes. Council Licensing and Selective Licensing are all exempt from our schemes.