Norwich City Council should reject Article4Make Text Bigger
The growth and sustainability of the UEA needs the support of private investors to continue to offer accommodation to the growing student population. With interest rate relief cuts, increase in stamp duty and post Brexit BTL products changing, the sector will almost certainly have less investment. By introducing Article 4 Norwich City Council are demonstrating their total disconnection to the needs of a very fragmented market for both students and professionals. Good quality HMOs are required to ensure affordable accommodation is available.
The recent introduction of a new accreditation scheme has not been given the right amount of time to demonstrate its intended actions to improve the sector,
Article 4 was consulted last year and rejected for the right reasons. Is this the best use of tax payers funds to revisit this again only another year on, after 3 months of a newly introduced accreditation scheme being launched?
Funds need to be used to help provide better quality and safe accommodation by working with investors. Introducing Article 4 will actually not effect exiting HMOs, but make the ability to offer new and innovative types of HMOs extremely hard, which inevitably lifts the whole overall standard. Some HMOs which are potentially below sub standard may not be improved by the landlords post an introduction of Article 4 for the very reason that no more competition can enter the market.
This is wrong and should not be bought in.
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