25 July 2014
Increasing costs and rising red tape will deter new landlords from entering the buy-to-let market.
Landlord Assist, a tenant eviction and rent collection company, said that the Government's proposals to charge landlords a £50 annual licensing f
It added that currently a landlord needs, for each property, a gas safety certificate at an approximate cost of £75, an electrical safety inspection at £125, an Energy Performance Certificate at £100, a letting agent's tenant finding fee of nearly £500, inventory charges approaching £100 and mandatory deposit protection, costing approximately £30.
Some landlords will also require an HMO licence at about £800 and a fire certificate at an approximate cost of £400, and all this before receiving any rent. Costs could add up to £2,130.
Graham Kinnear, managing director of Landlord Assist, said: £Landlords are already facing reams of legislation in a challenging economic climate.
"More should be done to encourage landlords to enter and remain in the market."