As part of a radical new licensing scheme, Private Landlords in Netherfield, Nottingham will be charged hundreds of pounds for rental properties, in a bid to improve living standards for tenants and reduce the number of vacant properties.

The new regulatory scheme has been welcomed by many, and will come into force from October 2018. It can be enforced by prosecution and a potential fine if breached under the Housing Act.

In 2017, councils throughout England recorded over 600,000 vacant properties. Thousands of new developments have sprung up across the country in a bid to address the housing crisis, but so begs the question, why are so many existing properties not being utilised?

Other wards are expected to adopt a similar scheme in the coming months, and eventually rolled out across the county.

The amount charged will depend on whether landlords are accredited by a professional– standards body or not – those who are will pay a reduced rate (25% less).

To illustrate, accredited landlords will pay £490 per property, and non-accredited landlords will pay £640. This is a one-off fee, and the license will last for 5 years. There are, however, several exemptions, including properties used for social housing.

If you would like to speak with one of our experts regarding the new scheme, or would like to know more about how this may affect you, please get in touch.