Multiple Choice Opportunities for the intrepid investor as landlords start to quit the HMO market?
19th October 2006
There is now a lot of evidence that many landlords are now exiting the Houses in multiple occupation (HMOs) market as licensing starts to bite, writes David Lawrenson.
How is a landlord supposed to cope with the new HMO regulations?
Well, unsurprisingly, some are choosing to reduce the number of tenants in their properties so as to avoid crossing the licensing threshold in their area. Others are selling up.
In England and Wales mandatory licensing is required in all HMO properties where there are three or more storeys AND five or more tenants; though in areas where pre-existing "HMO registration schemes" existed, smaller HMOs may require licensing too, if the local authority has continued with a pre-existing scheme.
In Scotland and Ulster it's different - here ALL HMOs must be licensed.
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