Selective licensing schemes are introduced by Councils to deal with concerns over the standard of privately rented properties in particular areas. These concerns range from Health & Safety concerns, inadequate living standards to anti-social behaviour by tenants.
Landlords have a legal responsibility to protect their tenants’ welfare and to the wider community.
Selective Licensing will therefore improve the condition of rented property and the wider environment. A number of areas in Leicester and South Wigston have been highlighted as having particular problems with poor standards of accommodation and anti-social behaviour.
The areas identified are not the first choice for tenants and this reflects, amongst other issues, lower than average rents and investment property values.
Any scheme therefore designed to improve standards throughout an area can only be to the benefit of both landlords and their tenants.
Tenants will potentially be happier and more settled in their accommodation. This means they may well want to stay longer.
Landlords will find that improvements in their area attract more tenants. Higher demand will lead to higher rent levels, and the value of investment property is likely to increase accordingly. The fact that tenants are more settled will lead to less periods of unoccupancy which are most costly to landlord returns.
The cost of bringing property up to Licensing Standards is likely to be met by the benefits any scheme provides. Those landlords that stay ahead of the game will also be in a prime position when it comes to letting their property.
For a full appraisal of the letting potential of your property please do not hesitate to contact the Lettings Team at Butlin Property Services on email@example.com or 0116 274 5778 option 1. Butlin Property Services Ltd are a member of ARLA Propertymark approved by Selective Licensing schemes.
Leicester Licensing scheme