Welcome back to the second part of our Landlords Guide on Navigating Selective Licensing in Peterborough. In this instalment, we’ll delve deeper into the specifics, focusing on designated areas and the associated costs. As always, our aim is to keep you well-informed and prepared for the changes ahead.
Understanding Designated Areas:
Selective Licensing aims to target specific areas within Peterborough to improve living standards and community well-being. The initial rollout will cover neighbourhoods where housing conditions and local needs necessitate increased oversight. While the specific areas may evolve as the scheme progresses, some zones initially identified include properties in Post Codes PE1; PE2; PE3; PE4 where the scheme will be implemented to address specific housing challenges.
If you are concerned or require more information about specific addresses in these post code areas, then please CONTACT Just Lets directly.
Navigating the Costs:
The introduction of the Selective Licensing Scheme comes with associated costs for landlords. While the fees can vary, understanding the financial aspects is essential for effective planning. Common costs include application fees for each property, renewal fees, and potential fines for non-compliance.
Application Fees: Landlords are required to pay an application fee for each property covered by the scheme. This fee contributes to the processing of your license application and initial property assessments.
There is a short window for applications that offer a reduction in the cost. The initial fee is £608 but will rise to £908 for those applications that are submitted late.
For more information on the process and the crucial dates CONTACT Just Lets and we will be happy to help you.
Renewal Fees: Licenses typically have a set duration, and landlords must be prepared for renewal fees when the license period expires. Planning for these costs in advance helps avoid disruptions to your property management.
Fines for Non-Compliance: Non-compliance with Selective Licensing requirements may result in fines. It’s crucial for landlords to stay informed about the specific obligations and deadlines to ensure compliance and avoid financial penalties.
How Just Lets Can Assist:
At Just Lets, we understand that navigating the intricacies of Selective Licensing, including understanding designated areas and managing associated costs, can be challenging. Rest assured, our dedicated team is here to assist you. We’ll keep you informed about the designated zones, guide you through the application process, and help you plan for associated costs.
As a proactive landlord, staying ahead of the curve is key. Watch out for updates on designated areas, be mindful of application deadlines, and budget for the associated costs. By doing so, you not only ensure compliance but also contribute to the overall improvement of the rental market in Peterborough.
CONTACT Just Lets and we will be sure to keep you up to date with all the information you need to prepare for Selective Licensing and remain compliant.
Just Lets – Your Partner in Compliance:
Your compliance is our priority at Just Lets. We are committed to providing the support and guidance you need to navigate the Selective Licensing Scheme successfully. Keep an eye out for our future communications as we continue to explore the ins and outs of this scheme.