ALL >> Investing---Finance >> View Article
What Are The Required Steps To Obtaining A Hmo License
First off, HMO is short for Houses in Multiple Occupation. This program has been receiving a lot of attention with the press over the recent months. There has been quite a fuss around this subject, the press has written numerous articles some putting HMOs in a good light while other have been putting HMOs in a terrible light. The result? The individual is either completely for HMO or against it, with not any happy middle ground. Anyone that is interested in investment property should take the time to become familiar with all of the HMO regulations that are out there, before proceeding with any action.
As of July 3rd 2006, landlords in England were required to have their applications to the local councils. Any property owner that has not presented his or her application and has been letting out his or her properties to shares is in violation of the law. The housing act 2004 was adopted April 6, 2006 set a new definition of what Housing in Multiple Occupation means. Individuals considering a property investment career in the UK should familiarize themselves with all aspects of the Housing ACT 2004. This document can easily ...
... be downloaded via the internet.
The HMO legislation was introduced for several key reasons.
· To reduce the number of substandard and potentially dangers properties being let out by unscrupulous property owners.
· To improve the overall value of the rented houses stock
· To raise the standard of the management of rented properties
· (Indirectly) To obtain a complete listing of all rented property stock.
· (Indirectly) To generate more revenue from the landlords taxes for the local council
The HMO legislation is hoped to remove rogue landlords from the system, therefore resulting in giving tenets a better deal. Unfortunately, this is a drawback for the better landlords by causing them to have to deal with more red tape to provide the same exact services that they already provide.
In order to get a HMO license a completed application form, which can be obtained from the local council, will have to be filled. One of the parts of this application requires that a complete floor plan with room size, along with all current fire prevention precautions for the property. A certificate issued by a qualified engineer proving all of the safety of the fire detection systems.
You will also be required to get a Gas Safety Certificate from any CORGI registered gas engineer and have that submitted with your application. In addition, a qualified electrician will have to issue an electrical safety certificate following a successful electrical inspection. A PAT (Portable Appliance Testing) certificate issued by the qualified electrician will have to be issued if you plan to provide any electrical appliances. This applies to all items such as toasters, electric kettles and so forth. You have to also prove that you have suitable management arrangements in place. Some examples of this are tenancy agreements, policies pertaining to anti-social behavior, and deposit procedures. The last requirement is a check by the Criminal Records Bureau (CRB) proving that you are a fit and proper person. If this is required your local authority will let you know and will have to be dated within the previous six months.
HMOs can be quite the business opportunity if you know how to handle it. However, similar to any other business out there, you need training and advice before you can become one of the pros. If you want to avoid doing rookie mistakes or simply want to learn more about HMO, visit this website: www.yourhmoexpert.com
Add Comment
Investing / Finance Articles
1. Lendstack Vs Finflux, Cloudbankin And Jaguar Software: Comparing Loan Management PlatformsAuthor: Lourdhuraja
2. Financial Data Reconciliation Outsourcing: Improving Accuracy Across Accounts Payable And Receivable
Author: Allianze BPO
3. Essential Handbook For Obtaining Economical Personal Credit Facilities
Author: anilsinhaanni
4. Financial And Insurance Advice In Auckland: Making Sense Of Your Options
Author: Right Choice Finance
5. Personal Loan In Ludhiana – Quick And Flexible Financial Support
Author: Amit Sharma
6. Personal Loan In Lucknow – Simple And Flexible Financial Support
Author: Amit Sharma
7. Personal Loan In Kolhapur – Convenient Financial Support For Your Needs
Author: Amit Sharma
8. Accounting And Tax Support For Businesses In East Auckland
Author: Biz Whiz
9. Personal Loan In Jalandhar – Quick And Flexible Financial Support
Author: Amit Sharma
10. Personal Loan In Jamnagar – Flexible Financial Support For Your Needs
Author: Amit Sharma
11. Personal Loan In Ghaziabad – Easy And Flexible Financial Support
Author: Amit Sharma
12. How Leverage Options Differ Between Brokers, And Why It Matters
Author: Financial Adviser
13. Why Should You Start Investing Early? The Power Of Compounding
Author: fiona-d-souza
14. Life Insurance, Health Cover And Financial Advice In Auckland
Author: Right Choice Finance
15. Personal Loan In Goa – Flexible Financial Support For Your Needs
Author: Amit Sharma






