If you are a landlord or property investor with rental properties that fall under the jurisdiction of Durham County Council, this blog contains some vital information that you MUST be aware of.
What Is The Announcement?
Durham County Council has announced that a Selective Licensing Scheme has been confirmed by the Secretary of State for the Department of Levelling Up, Housing and Communities.
Who Is Affected and What Is Required Of Landlords?
This will affect ANY person or company privately renting a property within a variety of areas within Durham County Council’s jurisdiction and requires them to obtain a license and abide by set licensing conditions.
Therefore, if you are a landlord or property investor with rental properties in these areas, you must act as soon as possible to avoid penalties, and to ensure compliance with the new licensing requirements.
How Long Do I Have To Get Ready?
The scheme will come into force on the 1st April 2022, and you will be able to apply for a license from the 1st February 2022 via https://durham.gov.uk/article/2882/Selective-licensing
What Is The Cost?
There is a license fee payable, which is split into two parts – the first being due upon application to cover the up-front processing costs.
However, there are also a variety of discounts that you may be able to take advantage of:
- Early Bird Discount
If you make your application between the 1st February 2022 and the 31st July 2022, you could be eligible for an early bird discount of £60 (against the full fee of £500).
- Multiple Properties Discount
If you are a landlord that owns two or more properties which require licensing, then you can claim a £35 discount which is applicable for the second and subsequent licences.
- Accredited Landlords Discount
Finally, there is a £55 discount available to license holders accredited with Durham County Council on the 31st March 2020 or accredited with the National Residential Landlords Association.
These three discounts can be used in conjunction with each other (if applicable), so this could reduce your licensing costs.
What Are Consequences For Non-Compliance?
There are a variety of consequences for failing to license your rental property which include, but are not limited to prosecution, a financial penalty of up to £30,000, or the Council taking control of unlicensed properties through an Interim Management Order.
How We Love Renters Can Help?
If you are uncertain of how the changes impact you, and your property portfolio, and you are confused about the next steps you need to take, speak to one of our Property Specialists; Stacey, who has experience applying for selective licensing scheme, and managing properties affected by these schemes.
Reach out to Stacey by telephone on 01429 36 36 36 or contact her at email@example.com.
Alternatively, request a Landlord Information Pack by clicking the link below:
As a bonus, we will also send you a copy of our free report “7 Ways To Ensure Maximum ROI From Your Rental Property”.
To read more of our “Top Tips For Landlords” blog articles, click the link below:
Work With We Love Renters To Maximise ROI From Your Rental Property Portfolio
We Love Renters is currently looking for landlords or property investors who own and rent properties in Hartlepool.
If you are:
- Frustrated with your current property management company,
- Fed up with getting your houses trashed by bad tenants,
- Not getting your rent on time,
- Sick of inconsistencies in your rental statements with discrepancies in the amount of money you receive and
- Worst of all, feeling like you’re getting more aggravation than actually making any money from your investment,
Then we can help you…
Or if you are trying to manage your rental property portfolio on your own, and struggling due to a lack of time, expertise or you just want an easy life…
Then we can help you…
Request a Landlord Information Pack by clicking the link below to find out more.
For full disclosure, we don’t work with every landlord who inquires, we are very selective about who we choose to work with. We respect our tenants and our team and for that reason we’re very selective about who we work with.
What is more, because of the time and demands required of managing Paul’s own growing portfolio of properties – and because he also wants access to the BEST tenants for his own properties – we have a very limited capacity to be able to work with only the right type of landlord.
So, act now by visiting our landlord page on our website and request a landlord information pack by clicking the link below.
Further Useful Information
To read the full announcement from Durham County Council, you can click HERE.
To read the formal notice from Durham County Council, and to find out which areas are involved, click HERE. The map image was taken from this Durham County Council Notice.
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