New EICR to cover any changes made by outgoing tenant?10:00 AM, 4th May 2021
About 2 weeks ago 94
To all Landlords, I worked out a detailed time sheet for the likely average cost of Selective Licensing for Nottingham Landlords.
Including the paperwork, running around, arranging extra certifications, small works associated with them, checking paperwork of tenants, keeping up with reports etc. we are looking at £2400 (conservative estimate) over 5 years including the license fee.
So unless Landlords put up their rents by £40 per month, they are going to be out of pocket. A far cry from Nottingham city council figure of £2 per week or so.
In Inland Revenue terms, the loss to the exchequer equates to nearly £10 million per annum for Nottingham.
Over-reaching on SL policy by 85% , which Nottingham has done, will mean nearly £7 million per year is lost to the Inland Revenue in Nottingham. This includes taxation lost and reinvestment lost
If Nottingham had kept to areas where the government criteria for implementing SL were strictly applied, this £7m loss would have been near negated.
This calculation does include the slight gains of tidy streets that might result in deprived areas, but again this could have been achieved in very different way by alleviating poverty and its markers. This still is not being tackled by SL, in fact it is being exacerbated.
Landlords, feel free to use these type of figure to show the mathematical incompetence of Nottingham and the hit on the exchequer. Three cheers for Nottingham being mathematically illiterate and attempting social reform.
As always, the poor tenants will suffer the most. This is a massive tenant tax.
Friar tuck (he is good at maths)
ps. only basic assumptions are made in this calculation, the end figures may be even worse.
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