Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Propertymark warns licensing schemes must be proportionate and not add to regulatory burden
Industry body Propertymark has warned that licensing schemes must be "proportionate" rather than create unnecessary duplication for landlords and letting agents. The warning comes as North East Lincolnshire Council has announced that landlords face a £200 charge for missing the selective licensing requirements in its area.
Financial consequences of non-compliance
Propertymark has warned landlords and letting agents of the financial consequences they could face if they fail to licence a property. The £200 charge announced by North East Lincolnshire Council for missing the selective licensing deadline illustrates the kind of cost that agents and their landlord clients could incur where licensing obligations are overlooked.
What this means for agents
For letting agents and inventory clerks operating in areas with selective or additional licensing schemes, keeping on top of licensing deadlines and requirements is essential to avoid charges for non-compliance. Propertymark's broader point is that licensing schemes should be proportionate and should not add unnecessary regulatory burden or duplication for those already operating within the sector.
Agents managing portfolios across multiple local authority areas should be aware that licensing requirements and associated charges can differ from one council to another, and that failing to licence a property can carry direct financial consequences.
Source: Property118