UP AND COMING LICENCING FOR LANDLORDS
With the tenant’s fee ban coming in to force in a few weeks, coming on to the next update for you which we made you aware of last year is the licencing for landlords. This has been through parliament and we believe that very soon we will have a date that it will come in, which we believe will probably be the end of this year early 2020.
The impact for anybody who we manage their properties is good news we are a licenced agent and you will be covered under the new licencing without you needing to do anything at all.
For non managed landlords this is something that you will all need to look into. The impact will be that you will need to be licenced by the government, pay a fee for this unfortunately we don’t know what this will be yet and to go on a course to be a fit and proper person.
The thinking behind this is that landlords that let their properties out to tenants, the government wish that tenants have the same rights whether a lettings agent manages the property or the landlord. Currently if the tenant is unhappy with the service they are receiving and its managed by an agent they have access to a redress scheme, if a landlord is managing it themselves, they currently don’t. By licencing each individual landlord, they will be tested and qualified, the tenant would then have a right to go to a redress scheme if they were unhappy about the level of service they are receiving.
If any of the non-managed landlords wish to have a meeting or a discussion with us about this please feel free to contact me, as I do think this is going to be a game change in the market moving forward.