Waltham Forest has now officially been established as a Private Rented Property Licence area. This means every privately rented home in the borough must apply, through the council, for a Private Rented Property License (PRPL). Controversially, owners with multiple rented properties, must complete an application for each one of their properties.
As a landlord, you stand to pay £500 for each property in your portfolio that is let out in the London Borough of Waltham Forest. This buys you a license for 5 years.
Early bird discount on Private Rented Property Licence
There is some good news however – for all you organised types an early bird discount is on offer between 16 March – 15 June 2015. Should you get your application in on time, you will receive a generous 50 per cent discount on the overall charge, meaning your license fee will be reduced to £250. To benefit from this discount applications must be completed and the fee paid by the 15th of June at the latest.
Please note, the guidelines are quite strict. If you start your early bird application before the deadline, but do not submit the finished article in full before June 16th, you will still be subject to paying the full fee.
Properties may be exempt from requiring a Private Rented Property Licence, under various circumstances. For example, certain agricultural tenancies can have a bearing on a person’s eligibility and furthermore buildings controlled or managed by a Local Housing Authority are also exempt from paying for the charge. Emergency services headquarters also don’t require the licence. If you are the owner of University or College accommodation, which is occupied by students attending the affiliated establishment, you will also not have to pay the fee.
We could save you the cost of a PRPL through our guaranteed rent scheme, which means that you can be exempt from paying for the licence on some properties. Call us today or drop in by our office for more information.
New Property Licensing Controversy
The new licensing laws have of course come under much scrutiny. In defense of the scheme, many leading councilors have claimed that the license is necessary to address anti-social behaviour, caused by poorly managed privately rented properties.
To tackle this issue landlords will need to deal directly with any anti-social behaviour or crime in their properties and acquire references from potential tenants. Here at Waltham Estates we can mitigate these headaches, by managing your property diligently, thus reducing the risk of any anti-social behaviour. We manage properties proactively and should any issues arise, we will of course be on standby to diffuse contentious situations. Before moving tenants into a property we obtain and verify mandatory references, so you don’t have to. Contact us today for more information on how we can save you hassle and stress in meeting the requirements of the Private Rented Property Licence scheme.
In Waltham Forest, private rentals makes up one third of the housing market, a figure that has nearly doubled in a decade. Needless to say the new licence will have a widespread impact.
It’s important that you acquire your license straight away, as failure to do so could lead to a fine of up to £20,000, or in extreme circumstances a loss of your property.
Call us today on 020 8509 0444, if you need any more information on the application process and we will be more than happy to talk you through the necessary steps.