Selective Licensing - Why it is a BAD idea

Rob discusses the controversial topic of selective licensing, looking into the implications of selective licensing on landlords in certain areas of the UK, particularly in England. The episode highlights how selective licensing can be seen as a cash generator for councils, creating more bureaucracy and expenses for landlords. KEY TAKEAWAYS Selective licensing is a process where landlords in certain areas are required to obtain a license for each property, leading to additional costs and bureaucracy. The implementation of selective licensing can result in councils having more power and potentially targeting good landlords for fines and penalties. Selective licensing can deter landlords from investing in certain areas, leading to a decrease in available rental properties and potentially driving up rents due to supply and demand. The scheme of selective licensing should ideally be non-profit to ensure that the income matches the outgoings. It is important to be cautious and aware of selective licensing regulations in the areas where you operate as a landlord or property investor. BEST MOMENTS "Selective licensing is not a good thing. It gives councils too much power." "Selective licensing is another way to bash landlords. It's another way to put a cost of business on the landlord." "The challenge with selective licensing is what it can do is it gives the councils more power and then they will exacerbate that power." "If landlords start selling up and first-time buyers start buying, or landlords sell up and there's no other landlords to buy, then the amount of stock available goes down." VALUABLE RESOURCES https://www.bbc.co.uk/news/articles/cxr33l9dx0yo GET YOUR PROPERTY DEVELOPMENT FINANCE HERE: https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration SOCIAL MEDIA/CONTACT US https://linktr.ee/thepropertynomadspodcast BOOKS Property FAQs = https://amzn.to/3MWfcL4 Buy To Let: How To Get Started = https://amzn.to/3genjle 101 Top Property Tips = https://amzn.to/2NxuAQL uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast