05-05-2009
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The Times newspaper reported (Monday, 4th May 2009) that the Government plans to introduce a Green Paper in the next 10 days that will require all Landlords in England and Wales to be licenced. Landlords will be expected to pay a licence fee of approximately £50 with a national body.
Landlords will include developers, buy-to-let investors, and “accidental landlords” i.e. those who cannot sell their home so in turn let the properties out. The purpose of the scheme is to stamp out rogue landlords and to “curb abuses” in the expanding rental market.
Scotland has had such a scheme in force since 2006 where failure to register can result in criminal proceedings and a notice served on their properties stating that tenants do not have to pay rent.
Details of how the scheme would work in England and Wales is still unclear. It was reported that one option is for each landlord to be given a licence number that would appear on all related tenancy documents. This could also make it easier for the Inland Revenue to identify tax evaders.
To read the full article please go to:
http://property.timesonline.co.uk/tol/life_and_style/property/article6223112.ece
Visit Link: http://property.timesonline.co.uk/tol/life_and_style/property/article6223112.ece