Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I read an article about the council checking that the renting cost/ prices are kept down. Nottingham City Council will apparently fine any landlord that increases the rent cost because of licensing. The reason for this pressure on landlords from the Council is that the licensing is covering a 5 years period.
Nottingham City Council are forgetting a big issue – landlords do not have not 5 years to pay the licencing fees. Nottingham City Council demand the payment from landlords upfront and that is all.
It would be easy if landlords are giving the opportunity to pay for the licensing in yearly quotes, also, it does not take into account if a property is empty or how long it is empty for.
On top of the licensing cost and payment demands from the Council, there is the price increasing on the licencing. It is clear that all the charges are going to be paid for by the tenant one way or another. The Council is ensuring more and more people will be in hardship thanks to their policies.
Nottingham Council cannot expect landlords to keep rents the same.
Also, the Council is forgetting the prices of traders for fixing or keeping the property in rentable condition are expensive. Lucky if you have someone to help you with DIY or major works charging you a rate that match inflation levels.
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