Landlords of HMOs are being urged to get licensed before changes to mandatory HMO licensing are introduced next week to avoid potentially being hit with a whopping fine.
From Monday 1st October 2018, any rented property with five or more people living across two or more households and sharing common facilities, such as a kitchen or toilet will be classed as a HMO and require a licence.
The change in the rules is expected to affect more than 160,000 properties, with more than 77,000 landlords required to apply for the new licence.
The licensing scheme was previously restricted to properties that were three or more storeys in height.
The new law is also going to cost landlords about £95.4m in fees and admin charges, according research commissioned by Currys PC World Business and carried out by the Centre for Economics and Business Research.
The study revealed that the new licensing laws will hit landlords with a bill for £1,235 each.
But the cost to landlords could be much higher if they fail to meet next week’s deadline.
With just a week to go until the new law comes into effect, landlords are being urged to move as quickly as possible – or else risk being hit with a fine of up to £30,000 per property should they fail to comply.
Simon Moyle, head of B2B strategic partnerships at Currys PC World Business, said: “With tenants, maintenance, collecting rent and paying taxes to manage, we know landlords have a huge amount to juggle before they can even get around to thinking about licenses.
“And that’s precisely why we’re here - to give landlords that bit of breathing space to think about the most important things, while we provide the tech expertise that they need.
“What’s more, with government law dictating landlords letting an HMO must have a suitably well-equipped kitchen, bathroom and washing facilities, it pays to get organised with everything from your white goods to your licensing.”
Paul Hilliard, Landlord National Purchasing Group, added: “It’s easy to forget that the majority of the UK’s landlords also have other jobs, so applying for new licences isn’t top of their priorities, meaning the government has a big job to do between now and 1 October, to raise awareness of this new law.
“That’s why we’re supporting Currys PC World Business’ efforts to encourage landlords to get organised with everything from their tenants and tech, to licenses and their letting agents.”