The licensing scheme of HMO properties in Cardiffs student areas has reportedly taken in over £300,000 in its first year of operation. The council is reported to be wanting to extend the area covered by the scheme that currently runs in Cathays, the popular student area of the city.
Which I guess makes sense, more properties, more money.
Local landlords are unhappy with the £500 a property charged by the scheme saying that it is focused on income generation for the council and not improving standards. ( surely not!!!)
One council official commented that £500 was not a lot considering that a landlord could take in £60,000 in revenue during the 5 year period of the licence.
(A council worker who doesn't understand the difference between profit and revenue, why would he?)
Read more in Wales online
Read the councils info on the scheme here
Landlord insurance discounted rates
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