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rambos

Liverpool Landlord Licence

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Hi everyone,

 

I'm about to complete on a property in Liverpool and am looking to apply for my licence. Just interested in what peoples experience in this have been.

 

Many thanks,

 

Danni

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Hi!

I bought two apartments in Liverpool that completed in April and I bought my Landlord Licence through my management company in their name, and this was slightly cheaper and saved me the hassle of applying myself.

However, I was outraged when I discovered that - regardless of when the licence is purchased - it costs the same price (~£400) and expires in March 2020! So those of us who have purchased investment property in Liverpool in the last year have got very poor value for money in regards to the licence.

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The initial licence scheme was only approved for 5 years starting in April 2015. Liverpool City Council have asked the Government to extend the licencing for another 5 years, so whether or not that means another few hundred pounds for a new licence, or they keep it rolling based on when you purchase, I'm not sure of. Most likely you'll have to apply for a new one given it'll rake in more £ for the council...

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On 8/27/2019 at 9:55 PM, DerekT said:

The initial licence scheme was only approved for 5 years starting in April 2015. Liverpool City Council have asked the Government to extend the licencing for another 5 years, so whether or not that means another few hundred pounds for a new licence, or they keep it rolling based on when you purchase, I'm not sure of. Most likely you'll have to apply for a new one given it'll rake in more £ for the council...

Of course they'll take the whole amount! You'd think they'd prorate it. New money for old rope I suppose!

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Hi Rambos, 

Only the good landlords pay for them.

If I was you I’d try to hold of getting one until March 2020. The problem you’ll have is that a lot of letting agents won’t let a Tenent move in unless a licence is in place or being put in place, which is a good thing but It’s a real shame that Liverpool city council can’t honour these licenses for 5 years or at least give you some sort of discount into the next scheme as I myself bought one @ 2 months ago, as it’s forcing more landlords to go the other way and avoid paying the fee...

rant over....

 

Neil

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Hi Danni, Not sure if you have completed but i would wait till the beginning of April, thats when the new scheme kicks in. Personally i would not buy in Liverpool. we are looking to sell up.

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On 12/18/2019 at 4:43 PM, pagani said:

Hi Danni, Not sure if you have completed but i would wait till the beginning of April, thats when the new scheme kicks in. Personally i would not buy in Liverpool. we are looking to sell up.

Hi Pagani

Could you kindly expand on why you think buying in Liverpool is not a good idea, please? I’m a newbie who is keen to learn from others’ experiences.

Thank you.

Kind regards 

ShillaM

 

 

 

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Yes, I’d be interested to know why as well as from a locals point of view Liverpool is booming at the moment, with all reports about investment in the north west, I’ve only read and seen positive things....

 

Neil

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If I might add a word to the discussion, having lived abroad for some time I bought a couple of apartments in Liverpool for initial investment and a future return to roots.  Not a happy experience.  First construction companies often go bust although those involved can apparently re-surface with impunity within weeks and start again.  Second some letting agencies take their fees but fail to fulfil the service.  I’ve lost several thousand pounds in rent for which the agency denies responsibility.  Third, the return on investment.  As a non-resident NRL tax is 20% of rental income.  A sizeable chunk which was not mentioned when I made the arrangement.  (OK my fault I should have dug deeper!)  Add to that the ‘Landlord’s license’ of which much has already been said there’s not much left.  To add insult to injury the last agency did not pass on the licence money to the Liverpool authority before going bust.  Are these issues specific to Liverpool?  You decide.

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On 1/14/2020 at 3:08 PM, johns said:

If I might add a word to the discussion, having lived abroad for some time I bought a couple of apartments in Liverpool for initial investment and a future return to roots.  Not a happy experience.  First construction companies often go bust although those involved can apparently re-surface with impunity within weeks and start again.  Second some letting agencies take their fees but fail to fulfil the service.  I’ve lost several thousand pounds in rent for which the agency denies responsibility.  Third, the return on investment.  As a non-resident NRL tax is 20% of rental income.  A sizeable chunk which was not mentioned when I made the arrangement.  (OK my fault I should have dug deeper!)  Add to that the ‘Landlord’s license’ of which much has already been said there’s not much left.  To add insult to injury the last agency did not pass on the licence money to the Liverpool authority before going bust.  Are these issues specific to Liverpool?  You decide.

Dear Johns

Thank you very much for sharing your Liverpool investment experience; very sorry to hear about the challenges you faced. Do you still have the properties? How are they performing currently? 
 

Kind regards 

ShillaM

 

 

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Yes I still have the properties but I cannot easily estimate their value given the constant battle with the agency and their frequent changes in personnel.   Whilst I don't disagree with principle of landlord licenses I do find it an expensive burden.  Thus I shall wait until the issue becomes clear before deciding whether to sell up or stay and in the latter case I'll change the agency .  

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I have a house in Liverpool that I'm looking for tenants for now - I need to get a licence.  It's great news that they're ending the scheme at the end of March, but I guess I'm still going to have to get a licence before then...

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Hi Cathie, 

I completed on a house a couple of weeks ago, and I am looking for a tenant only with Reeds Rains. I basically told them that I wouldn’t be getting a licence due to the time remaining and that it wasn’t continuing - Reeds Rains have said they could work with that... so who ever your agent is going to be I’d bring that up at the earliest opportunity and if they can’t accommodate you, find another agent, otherwise you will find yourself paying for a licence...

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On 1/21/2020 at 3:43 PM, johns said:

Yes I still have the properties but I cannot easily estimate their value given the constant battle with the agency and their frequent changes in personnel.   Whilst I don't disagree with principle of landlord licenses I do find it an expensive burden.  Thus I shall wait until the issue becomes clear before deciding whether to sell up or stay and in the latter case I'll change the agency .  

Hi Johns

I’m very sorry to hear about your challenging situation. I hope you will get a better experience with the new agent.

Kind regards 

ShillaM

 

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