The government is proposing to force all private landlords, including buy to let investors, property investors and ‘accidental’ landlords to register before letting out any residential property.
This new scheme proposed aims to minimise abuse of tenants, as ministers are worried about the growing number of unscrupulous landlords. This registration would cost approximately £50. Landlords who then failed to carry out repairs or intimidate tenants could be struck off, and their tenants moved out. Realistically this would not happen over night.
Anyone letting a residential property would have to pay about £50 to register with a national body. This would include developers, buy-to-let investors and the growing ranks of 'accidental landlords' who cannot sell their homes and have been forced to let them out instead.
Full reforms will be outlined in a green paper within ten days. Whilst the government has stated they intend for the system to be operated with a ‘light touch’ to improve standards, there are worries that small buy-to-let investors could be driven out.
Full details such as implementation and monitoring of the scheme are still to be revealed, but it is expected that all documents relating to letting would have to show an individual landlord identification number. The system would then be monitored by an independent body to adjudicate complaints made by tenants.
CPS Homes are committed to keeping investors and landlords up to date with issues both throughout Cardiff and on a national scale.