PROPERTY


Is the licensing scheme working in Nottingham?


Adam Kingswood (pictured), Director at Kingswood Residential Investment Management, looks at the challenges facing private landlords and what the consequences could be for tenants.


It is no secret that private landlords have had a difficult time recently. Perceived by many in the industry as an easy target for the Government, buy-to-let landlords have been hit by the three per cent stamp duty penalty, changes to mortgage interest tax relief, new energy standards and now, for landlords in Nottingham City, the introduction of selective licensing. In August 2018 Nottingham City


Council launched its licensing scheme for 32,000 properties in the city, with 91% of non-HMO privately rented homes becoming part of the scheme, making it the largest of its kind outside of London. With the aim of raising standards in the private rental sector (PRS)


ensuring that all tenants can enjoy a safe, comfortable well managed home, Nottingham is just one of the many councils that have seized selective licensing as a tool to tackle poor management standards in the PRS sector, designating and targeting licensing in areas considered to have persistent anti- social behaviour, high crime and low standards of property repair. In the face of considerable opposition from landlords regarding timescales, costs, the capacity of the council to cope with the process and the ability of the scheme to root out rogue and criminal elements, Nottingham forged ahead with the scheme’s introduction.


‘Nottingham is a fast-paced and competitive rental market which needs more landlords and properties in the marketplace’


58 business network February 2019


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