Auction interest given boost from tougher landlord licensing

Auction interest given boost from tougher landlord licensing

Tougher licensing in Manchester aimed at encouraging private landlords to improve property standards is leading to an increasing interest in selling rental stock by auction.

Andy Thompson, senior valuer at SDL Auctions North West, said this is one of the results of a new selective licensing scheme in Moss Side and Rusholme.

The project means that around 1,200 private sector homes in the two areas will be subject to mandatory conditions before a licence to rent is issued by Manchester City Council. These conditions include:

• Up-to-date gas and electric safety certificates
• Safe electrical appliances
• Fitted and working smoke detectors
• Written tenancy agreements
• References for prospective tenants
• Potential specific conditions from the city council to improve specific issues 


Mr Thompson said: “This project means landlords can be fined for not applying or obtaining a licence in these areas, and the council then carries out checks to make sure they are fulfilling requirements.

Our experience is that many landlords either can’t afford to make the improvements required or haven’t got the time to go through what are quite strict procedures, and so they are increasingly turning to auctions for a quick sale and exit.”

The new licensing scheme came into effect in Moss Side and Rusholme earlier this month [October] and the landlords involved now have until January 2018 to apply for a licence.

Mr Thompson added: “The next SDL Auctions North West auction in Manchester is on 12 December and this is an ideal date for any landlords who decide not to take part in the new licensing scheme. What’s also important to note is that properties can be sold with tenants in place so any landlords who aren’t put off by the licencing changes can also take on these properties and add them into their existing portfolio.

Our auctions are a straightforward process with the exchange of contracts taking place in weeks rather than the months it can take via estate agency sales, and so they are ideal for landlords looking for a quick exit.”

Mr Thompson concluded: “We’re quickly becoming a leading auction business in the area because of our quick, simple and professional service.

There’s a buoyant market here in the north west and, with strong, competitive interest from would-be buyers, the seller can often achieve the best price for their property by selling in the auction room.”

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Scott Garnet 06 Nov 2017

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richardrawlings
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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
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A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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