We reported the Government response to The Rugg Report earlier in this Blog, we can now tell you the anticipated costs of licencing Landlords in England.
According to the Government's own Impact Assessment it could cost a staggering £2.5 billion.
Included within the Impact Assessment is a proposal to charge Landlords a Licence Fee of £500 PER PROPERTY. This is Option One under the plan. The Licence would last for 5 years and would cover every rented property in England.
Even under the Government's own preferred option, Option Two, Landlords would have to pay between £30-£50 every year.
The Impact Assessment goes on to explain how the schemes would work and sets out a timetable for the introduction of Licencing for Landlords.
The Government is currently carrying out a consultation exercise which will end on 7 August 2009. We strongly urge all Landlords and Letting Agents to visit the Communities and Local Government website and read both the Government Response to the Rugg Report and also the Impact Assessment.
We would also strongly urge every Landlord and Letting Agent to let the Government know what you think about their plans. You can write or email the consultation team at:
Private Rented Sector Team
Department for Communities and Local Government
1/C4 Eland House
The Response and Impact Assessments can be found here Communities and Local Government Website.
Please remember - you only have until 7 August 2009 to let the Government know your views. Please act now.
You can share your views with other Landlords and Letting Agents by visiting our own forum The Landlords Club, the free forum for everyone involved in the Lettings Industry.