HMO licensing is changing. Not only is it becoming stricter and more widely applicable but it is likely that it will become centrally administered rather than under the control of a local authority. Before these changes come in, however, all HMO projects should start with a conversation with your local HMO Officer.
- Introducing Dale Wild from Pegasus Investments and Landlord Furniture Co.
- What Projects Are Pegasus Investments Working On and Why?
- What Is An HMO?
- What Furniture Should You be Providing in an HMO?
- What Colour Schemes Work Best for HMOs?
- Is it Better to Put Up Blinds or Curtains in an HMO?
- What Type of Beds Should Investors Use in Their HMOs?
- How Much Should a Landlord Budget to Furnish an HMO?
- How to Give Your HMOs the WOW Factor
- How To Invest in HMOs
- What Do Landlords Need to Know About HMO Licensing?
- What Has Been Your Biggest Mistake in Property Investment?
- What Has Been Your Biggest Win in Property?
- How Does the Cashflow from HMOs Compare to Buy-to-Lets?
Amy: For any investors that are watching now, what do they need to know about the HMO license?
Dale: At the moment, in Oldham, we operate… It’s still, sort of, like the old days, where you only need a license if it’s above five people and over three stories.
Now, the new licensing laws that are coming in are going to apply to all HMOs.
Currently, the HMO officer that writes the licensing format depicts it in different ways and I’m pretty certain that with the new ones coming in, it will be a national body that will be sorting all that out.
But, for the time being, until all that comes in, just speak to your local HMO Officer. I’d advise that anyway.
Find Out More about Dale WIld and Landlord Furniture Co.
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Speak To Your Local HMO Officer
The first thing you do is just speak to the HMO Officer. They know what they’re doing, or they should do.
The one in Oldham is fantastic. I just go to him with a scheme. I say, ‘We’re buying this house, this is what we want to do. Happy?’ and he goes ‘Happy’.
Then we have everything on email. That’s a big one, as well, having all the information on email. Never take anything off. Anyone that’s got some, kind of, punch, if you like, that can undo your work, so that’s everything from building control… Everything, just get it in an email.
Then, at least you can go back and say, ‘Well no, actually, you said that’.
So yeah, just open dialogue with the HMO Officer and just do everything by the book. It’s not worth trying to scrimp and scrape on anything.
Just get it done and get it done right.