HMO Landlords Urged to Move Quickly on Licence Changes
In just a few days’ time, changes to mandatory licensing will be introduced that are expected to affect over 75,000 landlords.
At present, for an HMO to require a licence it must feature three stories. However, from Monday 1st October any rental property with five or more people living in two or more households and sharing a kitchen and a toilet will require an HMO licence.
The new rules will also see purpose-built flats (where there are one or two flats in the block) brought into the scope of landlord licensing.
According to reports in the trade press, research from Currys PC World Business and the Centre for Economics and Business Research (CEBR) has found the change in law will cost landlords over £95m in fees and admin charges.
What’s more, landlords who don’t apply for necessary licenses before the October 1st deadline could face fines of up to £30,000 per property!
Don’t take the risk – apply for your licences today.