HMO Archives - Goldcrest Insurance

HMO Insurance Advice & Tips

November 21, 2013 HMO Property Insurance

Insuring an HMO property is one of many procedures an HMO landlord has to do in order to get there property up and running.

Once you have converted all the rooms inside your HMO to regulation, the next step is to get your license. This doesn’t arrive free of charge, you have to approach your local council and pay for a license. There is a fee and the on top there is a fixed fee for each habitable room inside your HMO, which does not include your kitchen or bathroom or toilet or rooms that are too small i.e. utility rooms to be deemed habitable. Read More

Goldcrest Insurance & HMO Safe team up

November 14, 2013 HMO Property Insurance

Our extremely large book of HMO businesses continues to grow. We are an active provider for all aspects of standard and non-standard let property insurance, for landlord/property owners up and down the country. So when the opportunity arose, Goldcrest decided it would be prudent to team up with HMO Safe to hold us in even better competition. Read More

Struggling to get HMO Insurance!

October 21, 2013 HMO Property Insurance

Having an HMO (home of multiple occupancy) is becoming a popular trend. 10 years back it was no where near as popular as it is today. Yes there is an HMO license you need to get from the council and regulations to adhere to like any other landlord, but the bottom line is a lot more favorable than a standard single family professional let.

There is one slipping point sometimes and that can be the insurance. HMO insurance or home of multiple occupancy insurance, is tough to find as a lot of underwriters do not like taking it on, as there is an increased risk of claims by so many individuals living in the home. Read More

HMO Landlord Fined

September 3, 2013 HMO Property Insurance

An HMO landlord has been fined £40,000 !!!! He has been found guilty of endangering the lives of tenants by letting out an unlicensed HMO consisting of 5 rooms. Not only was this home of multiple occupancy unlicensed it was also in terrible condition. It was an HMO in High Road, Ilford.

Amarjit Sanger 37 and ARJ Investments ltd were prosecuted at Snaresbrook Crown court on the 23rd of July 2013. They pleaded guilty to 75 housing act offences and were fined £39,000. Read More

HMO Insurance Specialists

August 27, 2013 HMO Property Insurance

Many property owners these days look to maximise the income from their property, and one effective way to do this is turning the property into a HMO (Home of multiple occupancy/occupation) – the method is simple, divide the property into rooms to which you let out to tenants, and make facilities such as kitchens and bathrooms communal.

Houses in Multiple Occupations are great for landlords as there is more than one stream of income coming from the property and depending on the property size and regulations the returns can be very fruitful. Read More

Are you a HMO property Owner?

July 1, 2013 HMO Property Insurance

Do you own a House in Multiple Occupation? Found it difficult to get relevant buildings insurance? Rest assured – you’re in the right place now.

Undoubtedly the main problem you’ve found when acquiring a legitimate HMO insurance policy, is that you’ve rung various insurers or insurance providers who have, at the initial point of contact advised that “indeed” they will be able to provide you with a quotation for your property with the £ signs rolling in their eyes. Read More