HMO Rental Properties – Find out more!06 May 2016
It’s that time of year again, so whilst everyone else is looking forward to a summer break, letting agents are battening down the hatches for the busiest time of year.
It is important to remember that it is not all students that move at this time of year, but they do make up a good percentage of tenant changeovers. And what a lot of students want and like, are large HMO properties. HMO is “Houses in Multiple Occupancy”.
In short (and there are a few exceptions), only 2 people if unrelated can move into a property together; more than this and the property needs an HMO license.
For new landlords entering into this market, it is undoubtedly a great sector of the rental market, but it can be tricky understanding what is required in your property in order to meet the legislation and further more to keep on top of this.(dependent on your council, applications are renewed yearly or 3 yearly). Fineholm understand this area well, having dealt with it for nearly 40 years. We have seen changes in how you apply for these licenses, changes in what is required to meet the requirements.
We have helped Landlords overcome complications that arise in the applications and have dealt and liaised with the Council to achieve the best possible outcomes for Landlords that may struggle with the granting of the license. Want or need further help or information ?
Call our office, we are happy to offer advice.