Last week it was announced the Residential Landlords Association has signed a historic new co-regulation deal, offering our landlords a 50% discount on licences.
The co-regulation agreement with Liverpool City Council will see landlords in the city who are members of the RLA have their licence fees reduced by half – saving up to £200 a property.
We have now put together a list of Frequently Asked Questions to explain the new legislation and associated fees to our members.
Frequently Asked Questions
Q: What is Co-Regulation in Liverpool?
A: An alternative to an accreditation scheme and an opportunity for landlords to join a self- regulation scheme managed by the RLA.
Q: Why would a landlord in Liverpool join such a scheme?
A: City wide licensing was introduced last year and so every landlord has to pay a licence fee for every rented property. The cost of each licence is £400 for first property, £350 for all others. The fee is paid for a 5 year licence. By joining a co-regulation scheme landlords will only have to pay £200 for each licence fee.
Q: What does co-regulation do?
A: There is a code of conduct for landlords and a complaints process for tenants in properties covered by the scheme. If the scheme cannot resolve the complaints, the issue will be referred to the local authority.
Q: What will happen to under-performing landlords?
A: The scheme has the right to cancel their membership. If a landlord loses membership of a scheme, they may have to pay back licence discounts to the local authority
Q: How much does the scheme cost?
A: The scheme will cost £20 per property. It will be an annual fee, paid monthly by direct debit.
Q: Can any landlord join the scheme?
A: Any landlord wanting to join our scheme will be required to be a member of the RLA – one of the terms and conditions stipulated by the council.
Q: Are there any other co-regulating partners?
A: Agents who are members of ARLA and NALS can also offer co-regulation to their landlords
Q: When does it start?
A: The licensing scheme was introduced by Liverpool City Council in April 2015. So far landlords have been asked to register and to provide property details. Now that the co-regulation scheme has been announced the council will be writing to landlords asking them to complete the process. The RLA would stress that landlords MUST join the RLA before they complete this process if they wish to claim the discounts.
To join the co-regulation scheme click here.