The 1st of July is a really important day for private landlords in Wandsworth. It is the date when they can begin applying for licenses for the Council’s new additional and selective licensing schemes. We want to have a closer look at them here because they will have a massive impact. Then, if you want to arrange guaranteed rent in Wandsworth, you can speak to us.

Licenses

Wandsworth Council made the decision to introduce the licensing schemes to ensure landlords meet their standards. This includes crucial things like room sizes and living conditions. They want to protect local tenants from having to live in cramped, poor quality homes. Ultimately, it will improve standards in the whole sector, a market that now accounts for more than a third of the housing in the area.

There are two different schemes to be aware of. The first is additional licensing. It covers the whole borough and requires licenses for private homes rented to three tenants or more from two+ households. The goal here is to deliver better standards for properties like HMOs.

The second scheme is selective licensing. It isn’t borough wide this time, and only applies to homes in 4 wards; Tooting Bec, South Balham, Tooting Broadway, and Furzedown. These are locations identified as having issues with private rental housing. As a result, every home in the private rental sector here will require a license.

Crucial details

Investors need to think very carefully about licensing, especially the responsibilities and costs. It may be better to look at other options. We can help with things like guaranteed rent in Wandsworth.

The most important thing with Wandsworth’s licensing schemes is the potential penalties for failing to comply. The Council will have the option to punish landlords. It could result in a fine up to £30,000 per breach and criminal prosecution. If landlords have larger portfolios and numerous issues with properties, the accumulated penalties can be huge.

There is another important thing to keep in mind here; the schemes give tenants more power too. If a landlord does not get a correct license for a property, they could apply to get rent back. In total they could reclaim as much as a year of rents.

Cllr Aydin Dikerdem said the licensing “will help us to crack down on rogue landlords”. At the same time they will be able to protect the rights of renters in Wandsworth. Most notably, the council will have “more robust powers” when it comes to inspecting properties and intervening if there are problems.

Speak to us about guaranteed rent in Wandsworth

It is absolutely crucial to ensure you are aware of any licensing requirements for assets in different parts of the UK. Always check to see if you will need any kind of license for properties. Then, if you find you do, ensure you apply correctly to get the right licenses. Most councils will offer support, including Wandsworth.

If you have investment properties or are considering investing, we can give you great services to make everything easier. We’re one of the best providers of guaranteed rent in London, working with local councils across the city. Therefore, we can help you to ensure properties are likely to get on schemes and provide support where necessary.

So, if you want guaranteed rent in Wandsworth or other areas, get in touch with us. We’d be happy to offer details and answer any queries.