Now the new “HMO regulation changes” are in place, what does that mean for you, the landlord? In some cases, it doesn’t mean too much, but in others, a whole lot of work is afoot.
In this post we break down what the changes into two sections. The first considers work for landlords of existing HMOs. The second is for landlords of properties that are only now considered HMOs.
Work for Landlords of Existing HMOs
Where your property was already considered an HMO from a regulatory point of view, there’s still work to do. One important job is to conduct a thorough review of your property/ies and make the relevant improvements required by the new HMO regulation changes.
One detail that could cause concern, is to ensure the property is ‘suitable for the number of occupants’. A minimum room size is still under discussion by the Government. So, there’s no strict rule on this – yet. But, as a minimum room size is still on the table, licensing professionals will likely take it into account during property assessments.
That makes it important and means, you should keep it in mind, too. After all, it’s better to have a license and earn a little less rent. Particularly if the alternative is to earn more rent without a licence, only to receive a fine later on.
Other details you’ll need to put in place – if they aren’t already – are:
- Suitable storage and removal of rubbish.
- Ensure the registered landlord is suitable for ‘fit and proper’ management test. Most landlords are law abiding citizens, but there are a few rogues around. This measure is to make it easier to remove ‘rogue landlords’ from the market and safeguard tenants.
- Send in a copy of your annual gas safety certificates every year.
- Ensure installation and maintenance of smoke alarms.
- Have to-hand the safety certificates for all electrical appliances.
Work for Landlords Whose Property is Newly Considered a HMO
Where your property wasn’t considered a HMO, but now is, you might have a little more work on your hands.
As well as the above, you may need to add more bathroom and kitchen facilities to meet the ‘suitable for the number of occupants’ rule. This can be an expensive job. However, if it’s the difference between the council granting you an HMO license and them not, you should make the investment.
Keep all your certification for appliances and gas checks in order and make a habit of it. This can be hard at first, but it’s essential. If you use a lettings agent or property management firm, they can do this for you. While it comes at a cost, it also saves you the worry and hassle of sending the council the relevant paperwork as and when required.
New HMO Regulation Changes – Let Us Do the Hard Work for You
Whether you own an existing, or newly classified HMO, it’s hard work to meet all the regulatory requirements with the new HMO regulation changes. And that’s before you throw tenants into the mix! If you think your time would be better spent elsewhere, then get in touch with us at Incrent.
As rent-to-rent specialists we’re lettings regulations and market requirements experts. We’ll guarantee your rent and also help make any changes to your property to satisfy the new HMO regulations. We know exactly what’s needed and will ensure it’s all put in place, to a good standard that satisfies your tenants and the regulators!
For more information about HMO regulations, click here for the Government’s guide to HMO licensing.
Alessio Tondo & Fabio Tarantino
Two ordinary guys who turned their passion into a business.
Rent 2 Rent specialists, London
Focused on how to Increase Your Rental Income.