Are you a HMO landlord, or an aspiring home of multiple occupation owner? Are you expecting various tenant types to occupy the property, such as DSS, Students, Guardians, recovering drug/drink addicts or even homeless people between hostels/housing? Or is your property a converted Hotel or Church; had subsidence or flooding history; or perhaps it’s a listed building? Read More
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
Having an HMO is becoming a popular trend. 10 years back it was nowhere near as popular as it is today. Yes there is an HMO license you need to get form 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 claim by so many individuals living in the home. Read More
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
Here’s the usual scenario – you’re a new landlord, you’ve just acquired the first property of your soon to be empire; and to maximise your income you have decided to convert the property into a HMO let. Everything has gone swimmingly; license approved tenants ready and waiting, however there’s one stumbling block – getting the property insured.
Spending hours on the phone to various competitor insurance providers has proved fruitless, and you’re faced with the prospect of having your newly acquired asset being un-insured. Read More
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