What are the risks as a landlord if my property isn't licensed ?
In short- yes fines are likely if you havent licenced your property in an area where licencing is required
More and more councils in London ( and across the country) are implementing mandatory, additional and selective licensing schemes with serious penalties being imposed against those landlords for failing to obtain the correct licences. The rules as to which licences are needed are complex and differ from area to area so landlords need to be 100% sure of what is expected of them or risk running foul of the law.
Recently, local authorities have been given the power to impose civil penalties of up to £30,000 to landlords who breach licensing laws or fail to comply with improvement notices- and if a conviction is made- unlimited fines.
In addition the failure to ensure you have the correct licence may also prevent you managing your tenancy properly, hampering your ability to claim rent, serve notices etc
Check with the local council in which your property is based in order to gain an understanding of your licencing requirements.
4th May 2017
DISCLAIMER: Neither ludlowthompson nor their ‘experts’ take any responsibility for any action or loss incurred by readers of these pages. The reader acts on advice at their own risk. Answers to questions are not exhaustive. Financial advice must always be sought from a professional financial adviser
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS