Insurance News Archive
HMO compliance deadline this week
The deadline for complying with New Houses in Multiple Occupation (HMOs) regulation is Thursday July 6th.
There are concerns that take-up of the five year licences has been low and buy-to-let brokers are now being encouraged to ensure that their landlord costumers comply with the new regulation.
There will be a fine of up to £20,000 for those who are eligible and yet fail to obtain a licence.
Landlords may need to apply to their local authority for a HMO licence if they let a building to a total of three or more tenants, or if they let self-contained flats on short-term tenancies, the Mortgage Trust has advised.
The licensing actually came into force on April 6th 2006, but a 'grace period' of three months was given to allow landlords who had not yet applied to do so without being penalised.
Further details are available from the Department for Communities and Local Government website, www.propertylicence.gov.uk.
04 Jul 2006