Each London borough operates different licensing rules when it comes to buy-to-let properties, which can make things extremely confusing for landlords. If you find yourself wondering if your London buy-to-let property correctly licensed, we can help.
Whether your property needs a license or which licenses are needed for your property depends on a number of factors including the borough the property is located in, who resides at the property and how big the property is and how many stories is has.
A HMO (House of Multiple Occupancy) licence is required for properties that have more than three floors and five or more tenants. Additional and selective licences may also be required depending up on the area.
Selective Property Licensing
Selective Licensing schemes have been implemented in many London boroughs and these can apply to almost all buy-to-let accommodation, not just HMOs.
Additional Property Licensing
Any council is also able to introduce ‘additional’ property licensing for HMOs that fall outside of the scope of mandatory HMO licensing. At present, approximately a third of all London Boroughs have these licences in operation, with several others due to follow suit. It’s vital that landlords and agents need to ensure that they are up to date with current licensing legislation.
In the lettings market legislation changes so regularly it’s crucial you keep on top of the changes. If your property isn’t inline with current rules you could face fines of up £30,000 and criminal conviction.
At Pisoria, we constantly remain up to date with the latest licensing laws, therefore you can rest assured that your properties are complaint with legislation. Find out more about how we can help you here.