Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
Nottingham City Council has announced their desire to introduce citywide selective licensing across the 20 wards of Nottingham looking raise an extra £16 million.
This will represent one of the largest schemes in the Country impacting at least 26250 properties at £600.00 per property. The council will employ an additional 74 officers to handle on average 5250 applications a year.
Under their HMO additional licensing scheme they struggle to issue licenses let alone inspect properties. At 1st October 2016, 2236 licence applications received, 1543 issued and just over 1000 inspected.
The main thrust of their argument is using selective licensing as a tool to deal with ASB, it would seem according to the council that Nottingham is a cesspit of crime and Anti-Social-Behaviour (ASB) particularly in its PRS. However despite a widespread additional licensing scheme being introduced in 2014, the city recorded 14,152 ASB complaints between 2008/12.(average 2830 per yr) Between 2013/15 the city recorded, 22,743 ASB (average 7581 per yr) complaints.
Although these complaints reflect all tenures citywide, complaints are on the rise across all tenures, it clearly demonstrates that licensing has not been an effective tool to address ASB.
Under Mandatory Licensing since 2007, 9% of licenses have been refused and revoked, under Additional 5% have been. Hardly demonstrates a picture of a PRS out of control.
Number of residential properties across Nottingham city in 2012 was 131,500, in 2015 135,599.
Click Here to read the full report (From page 25-Agenda Report Packs)
East Midlands Property Owners
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