A big Aldreds welcome to Sharon Merry. Our new Head of Operations in our Lettings and Property Management Department.
Sharon comes with a wealth of experience having worked at various Letting Agents in the East Midlands. She brings to us great knowledge of law, procedures and very importantly selective licensing that is due to roll out in Great Yarmouth again from April
SELECTIVE LICENSING OF LET PROPERTIES COMING TO THE MAJORITY OF GREAT YARMOUTH!
Here is a link to the Great Yarmouth Borough Council Website regarding Selective Licensing. https://www.great-yarmouth.gov.uk/.../15301/Scheme-details . There is a FAQ section which is quite helpful, however, some of the dates wrongly state 2025 and we believe they should be 2026!
The scheme starts on 1st April 2026 and runs for five years. According to the website you cannot register until 1st April and the deadline to register is the end of June. The cost of the licence is £694 paid in two parts. Part A £200 and payable at registration and covers the cost of processing the application. Part B £494 is paid before the licence is issued.
Some of you may have already had experience of licensing from 2019 to 2024 in Nelson Ward or if you have properties in other areas affected by selective licensing. We will all have our opinions with regards to the motives, but it is important to be prepared for what is to come.
At this stage I don’t have any other information other than what is available on the website. We are attending a briefing for letting agents held at the Town Hall at the end of the month and will update you further early March.
Selective Licencing on its way to Great Yarmouth
From 1st April landlords in most of Great Yarmouth will have to apply for a licence to continue to rent their properties.
The licence fee is £694 for both the council and Home Safe Scheme contributions and is per property not per landlord. This will leave some landlords with hefty bills if they have multiple properties!
The scheme aims to drive up the standard of private let accommodation and follows on from a previous scheme that started in 2019 but covered the Nelson Ward only.
Critics point towards the fact amongst other things that some landlords may raise their rents to cover this extra cost
At present registrations are due to open from 1st April. There are some legal and other challenges still being discussed so watch this space for more updates.
If you are a landlord in Great Yarmouth and feel that having a managing agent may be right for you bearing in mind these changes call us today to discuss on 01493 849111 or This email address is being protected from spambots. You need JavaScript enabled to view it.
What will rising inflation mean for interest rates in 2026.
It has been announced that inflation rose to 3.4% in December up from 3.2% in November. A rise was expected due to seasonal pressure and slight rises in fuel costs but only to 3.3%.
As it is expected to be a seasonal blip it will be interesting to see how the Bank of England reacts at the next interest rate review. If inflation stays above the banks 2% target, they will be reluctant to cut interest rates as regularly and speedily as us in the housing market may hope!
New Legislation and taxation putting pressure on landlords.
Landlords will see a lot of changes over the next 18 months both nationally and in the area we operate.
The Renters Rights Bill becomes come in to force in May. This increases notice periods needed to regain possession, bans section 21 ‘no fault’ evictions and increases regulation on rent increases amongst other measures
Make Tax Digital will start to kick in from this April for landlords turning over more than £50,000 a year and will come in to force for landlords with smaller incomes in 2027 and 2028.
The 2% increase on income tax for landlords from their rental income that was announced in the budget kicks in from April 2027.
Finally, Selective Licencing of landlords hits the majority of Great Yarmouth from 1st April 2026.
If you are managing your own property or portfolio as a landlord there is a huge amount to learn and if you are finding it stressful or a burden we can help! We are actively taking over the management of many properties for landlords and help to steer them through the minefield.
If you are looking to place your property with a managing agent, call us today on 01493 849111 or email This email address is being protected from spambots. You need JavaScript enabled to view it. and we can talk you through your options!
