Leasing with the local council can often be very beneficial for landlords. It can reduce hassle, costs, and the amount of work you need to do. At the same time it can protect rental income and ensure properties get good management. If you want to look at this kind of service, we are the top name for guaranteed rent in Tower Hamlets and other parts of London. We are always happy to advise you.
Licensing
Councils all across the UK have a responsibility to monitor the private housing sector. Some have measures in place to drive standards here. One of them is additional licensing. It can require landlords of specific properties to get a license and abide by the councils rules.
Tower Hamlets Council has had an additional licensing scheme in place since April 2019. It specifically focuses on smaller HMOs in the Borough. These are properties with three or more renters from two or more households. Under the terms of licensing, the landlord must get a license so they can take on tenants.
The current scheme applies to areas all across the borough. There are only three where it does not. These are Weavers, Spitalfields & Banglatown, and Whitechapel.
However, the current scheme will end on 31st March 2024. With that in mind, the Mayor and council are looking at what to do after that point. The proposal is for a new five year additional licensing scheme. It will be similar to the current one but will be across the whole Borough, meaning landlords in the three areas above will need to get licenses for small HMOs.
A consultation
The Mayor of Tower Hamlets recently gave a statement about the proposals and said there will be a consultation period. He spoke about the tricky situation in the borough with population growth and a large number of households living in homes they rent privately. This means it is vital to assess all options for the private rental market.
A big thing to take from the Mayor’s statement is he wants locals and stakeholders to give their views during the consultation. This will help to gauge what people want and help to shape the approach. As a result, it will ensure any scheme going forward will work for landlords, tenants, and the council.
The consultation is open now. Documents are available to view online and people can submit their responses in a survey. There will also be virtual meetings. The consulting period will close on 31st March this year.
A new scheme
The council is in support of a new additional licensing scheme. They believe it will be beneficial for a number of reasons. Firstly, it will build on the success of the current one in improving standards of housing in the area. This is very important to the local authority.
On top of this, a new broader scheme would make it even harder for rogue landlords. Requiring licensing and giving powers to enforce it is a way to drive more unprofessional landlords out. It also helps to create a more level playing field for those property owners that are professional and responsible.
Choose guaranteed rent in Tower Hamlets with us
Sometimes things like additional licensing can deter some landlords. However, you don’t need to worry if you choose a guaranteed rent service. It works with the local council so they will be responsible for arranging tenancies and taking care of properties. It can save you all of that work and give you a stable income as part of the deal.
We are proud to be one of the best companies to work with if you want to arrange this kind of service. Our relationships with councils all over London are vital here. It can make it quicker and easier to start. We can also offer advice about what kind of properties different authorities are looking for.
So, if you want to try guaranteed rent in Tower Hamlets today, speak to us. You will get the very best rewards.
