Following on from last month's blog I promised that I would be writing about London Property Licensing.
In certain borough's of London, as a landlord, you must apply for a license for each home you rent out or you could be facing a fine up to £20,000.
So, what exactly is it all about?
Until recently only landlords of House of Multiple Occupation (HMOs) had to apply for a license and then change came. Now a number of London Borough Councils are rolling out the Selective Landlord Licensing Scheme.
What does that mean to you?
If you are renting out your property privately then you must apply for a license in order to be legal. Selective licenses are required in certain areas and you will need to apply for this through your local council. Each property that you own and rent will need a license.
How do you know if you need a license?
The simplest way to find out is to check your local council's website or pop in a call.
Your property will need to meet a number of conditions to be accepted for a license and this includes an up to date gas certificate, safe and workable smoke alarms and any electrical goods or furniture within the property must be deemed safe.
If you don't meet the right criteria your application can be rejected. So, be prepared.
However, there are a number of exemptions that allow you not to apply for a license. ARLA have a good article and guidance tips outlined here Selective Licensing https://www.rla.org.uk/landlord/guides/housing_act/docs/all/what_selective_licensing_is_about.shtml
Why are licenses being enforced?
Councils have the right to enforce licensing where they low housing demands are an issue and where there may be high levels of Anti-Social Behaviour.
New regulations announced in March 2015 councils were given the authority to implement the licenses in areas that have high levels of rented properties.
Speak with your local council or visit their website and look into the licensing application. You may want to speak with me regarding this for advice and guidance or I can handle this for you. Give me a call today.