Since 2006, in order to raise the standard of HMO properties, it has been necessary for certain HMO landlords to acquire a license. But, do you really need one? And how do you get one? Mistoria is here to help.
You need an HMO license if:
– The property has three or more habitable storey’s
– The property is let to five or more unrelated tenants
– And the tenants share facilities.
However, there are exceptions. You don’t need a license if:
– You are living in your property with up to two lodgers
– The property is a flatshare which is rented by two unrelated tenants
– The tenants are all freeholders
– Or if the property is a bail hostel or care home.
By submitting floor plans, fire precautions, gas and electrical safety certificates, councils can separate the reputable landlords and habitable properties from the unreliable and unsafe. By having an HMO license, it informs potential tenants that you are credible and trustworthy, and that your property is protected and in good shape.
In order to apply for an HMO license, landlords must contact their local council. Prices will differ depending on the type of property and location, and criteria may also differ between councils. If you’re in any way unsure as to whether or not you need a license, it is recommended you contact your local authority to double check.
If you’re interested in investing in an HMO property, visit www.mistoriagroup.com/investments to view our current available property investment opportunities, or to find out more, contact us on 0800 500 3015.
