Waltham Forest to introduce landlord licensing

Waltham Forest in London is set to follow Newham's mandatory landlord licensing scheme.

Landlords in the area can expect letters will be dropping on their doormats informing of them of the requirements.

The new licensing scheme starts from April 1, 2015 ( the daft fools ) and will include most property types privately rented to tenants, though there are some exemptions.

Those properties exempt from selective licensing are:

• Houses in Multiple Occupation which will be subject to mandatory HMO licensing scheme under Part 2 of the Housing Act 2004
• Local Housing Authorities or Housing Associations tenancies
• Where a family member rents the property from you
• Where the landlord lives at the property and there are no more than 2 lodgers
• Long lease tenancies (over 21 years)

The scheme is expected to encompass between 30,000 to 35,000 rental properties.

Each license is expected to cost £500 and last for five years, but those landlords who apply before January will kindly receive a 50% discount, potentially knocking the price down to £250. 

The scheme links a licence to a rental property and not to an individual landlords, portfolio landlords will require multiple licenses - one per property.

Landlords can read more details on Waltham Forest's selective licensing scheme including a pdf copy of the Waltham Forest Council's Public Notice - Designation of an Area for Selective Licensing

So how much money will this make Waltham Forest Council?

Well I've fired up the old Texas Instruments, and tapped in 30,000 * £500, which equals - £15,000,000 or looking it another way it should raise them £3 million a year. Not a lot in relation to their annual budget, but something for nothing, I guess, and particular attractive when it's also a vote winning policy. 

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