Nottingham City Council have announced a consultation on the roll-out of their new Additional Licensing Scheme that will commence in 2024.
The new scheme replaces the current one that as run since 2019 and takes in around 2000 smaller HMO’s across the city. To read through to councils consultation presentation click here
Additional Licensing sits between Selective Licensing for smaller dwellings, and Mandatory HMO licensing covering homes shared by 5 people and above. It typically covers properties that are shared by 3 or 4 unrelated parties, and has become a growing element of the PRS that is seeing many landlords providing much needed shared accommodation for young professionals, post grads and key workers.
Controversially, the fees for the scheme could be as high as an eye-watering £1990 for the 5 year term.
Landlords have until May 24th to get involved and have their say in the consultation process, which can be accessed by clicking here.
The management of HMO’s are subject to stricter and stricter guidelines and landlords need to be fully versed in the legislation and attend regular training to keep themselves up-to-speed. If you’ve been self-managing, but you’re starting to feel that the legislation is becoming too much, Granger & Oaks can assist. Our team of property professionals can talk you through our process and fees, and explain the benefits of a fully managed service, and even provide you with a sales valuation should you decide that you’d rather sell. We can even help with your licence application if you wish..
Call us today on 0115 9629770 to see how we can help.