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HMO Properties, Hints & Tips, Landlords
7 HMO Licencing Questions Landlords Need to Ask
7 HMO Licencing Questions Landlords Need to Ask Interested in renting out an HMO property? Ask these HMO licencing questions first! HMOs can be fantastic investments, sometimes offering rental yields up to three times higher than traditional buy-to-let properties. However, despite their appeal to landlords, they come with challenges, not least an array of constantly changing legal requirements, costs, and deadlines. Keep reading to discover the 7 HMO licencing questions landlords need to ask. HMO Licencing FAQs: 1. How long does the HMO licence take to come through? One of the most common questions asked by HMO landlords is how long the licence takes to come through. Although you may be in a rush to find tenants and start generating rental income right away, you could need to wait up to 12 months for the licence to be granted. 2. How much does an HMO licence cost? Your first HMO licence will cost £1906, with further applications costing £953. If you run more than one HMO, you will require a separate licence for each home. If your HMO licence application is turned down, the local authority will refund the fee. 3. How long does an HMO licence last? An HMO licence usually lasts for 3 years. You need to renew it before it runs out. Remember that renewing it could take some time, so it’s important to apply in advance of its expiration. There are penalties for running an unlicensed HMO, and landlords who fail to apply for a licence in time could face steep fines. 4. How do I make my HMO compliant with regulations? Many landlords are concerned about ensuring their HMOs are compliant with the latest regulations. There are rules surrounding HMO licencing, minimum room size, gas and fire safety, furniture and furnishings, and more. You can read about HMO landlord responsibilities here. The good news is that when you hire a reputable letting agency that specialises in HMOs, they can undertake a full survey of your property and arrange for any necessary work to be carried out. 5. How many tenants can my HMO have? The number of tenants you can place in your HMO can vary, making it somewhat confusing for landlords. If the property is licenced, then the licence will determine this. Generally, a property is considered an HMO if it’s shared by three or more people who are members of more than two ‘families’. If the property is unlicensed, you can only put two unrelated people in the property unless the owner is also living there too. 6. What do I need to put in the bedrooms? Landlords are required to furnish bedrooms within an HMO with a minimum of a bed, mattress, wardrobe, a chest of drawers, and curtains. There are specific dimensions for these that need to be adhered to. Keep in mind that the furniture you provide must also meet the fire resistance requirements stated in the Furniture and Furnishings (Fire) (Safety) Regulations 1988. 7. Do I need to provide crockery and cutlery as part of the HMO licencing? Since many tenants prefer to use their own crockery and cutlery, you may want to avoid adding these when kitting out the kitchen in your HMO. More often than not, it’s an unnecessary cost and a headache when it comes to providing an inventory to new tenants. Do You Have More HMO Licencing Questions? Cairn’s Got the Answers For further advice on HMO licencing, simply get in touch. We’ve helped many landlords begin profitable HMO businesses in Scotland. We’re here to provide expert advice and guidance.
HMO Properties, Glasgow
Cairn: HMO Specialists in Glasgow
Cairn: HMO Specialists in Glasgow As HMO specialists in Glasgow, we regularly write about the benefits and considerations of renting an HMO in the city, whether that’s from the perspective of a landlord or a tenant. In this post, we’ve collected the most important links, definitions, and information, all in one place. If you’re thinking about renting an HMO in Glasgow, read this first. Reminder: What is an HMO? An HMO (House in Multiple Occupation) is a residential property where three or more unrelated people rent and share facilities (such as a bathroom, toilet, and kitchen). It’s sometimes referred to as a “house share”. For a property to qualify as an HMO, it must meet strict licensing requirements. You can read more about these requirements on this page: HMO Letting with Cairn. Our HMO Specialists Glasgow Resources: Getting to Grips with HMO Licencing – Are you a landlord looking to understand HMO licencing better? This post explains everything. Glasgow HMO Properties: What Do Students Need to Know? – Are you a student thinking of renting an HMO property in Glasgow during term-time? We’ve got the answers to some frequently asked questions. Buy-to-Let in Glasgow: 4 Reasons Why Should Do It – Are you a landlord thinking about investing in an HMO in Scotland’s biggest city? Here are a few reasons why it’s a no-brainer. Handy Third-Party Links Beyond our own blog posts and articles, check out these important links: Houses in Multiple Occupation – Glasgow City Council How to Apply for an HMO Licence with Glasgow City Council HMO Information from Glasgow University Students’ Representative Council Cairn: HMO Specialists (Glasgow) We’ve been managing fully licensed HMO properties in Glasgow for a number of years. Whether you’re a landlord or a tenant, when you rent with Cairn, you’re in good hands. We ensure all licensing requirements are met, tenants are moved in safely, and regulations are adhered to. We also carry out quarterly inspections to make sure the property is secure, clean and comfortable, as per the HMO conditions. Are you interested in renting an HMO property in Glasgow? Get in touch to learn more.
HMO Properties, Edinburgh
Choosing HMO Letting Agents in Edinburgh: Advice for Landlords
Choosing HMO Letting Agents in Edinburgh: Advice for Landlords Need help choosing the right HMO letting agents in Edinburgh? Look no further! There are plenty of reasons why you should invest in property in Edinburgh. In fact, we’ve taken a closer look at a few of them in this blog post. In short, the growing population, opportunities for young people, and the biggest arts festival in the world all rank high. But it’s the thriving student market that makes HMO development in Edinburgh such an attractive prospect. And if you’re interested in letting your property as a House in Multiple Occupation, it’s a good idea to put the day-to-day management of it in the hands of experts. So, here’s what you need to look out for if you’re choosing HMO letting agents in Edinburgh. How to choose HMO letting agents in Edinburgh 1. Choose a local agent HMOs have lots of benefits, from higher rental yields to lower risk (as you spread the risk of non-payment across several tenants). However, they can also be time-intensive to manage, and with the strict conditions set out by the HMO licence, it makes sense to use an agent local to the area. 2. Choose an HMO-savvy agent Speaking of the licence, certain rules and responsibilities go hand-in-hand with letting an HMO property. It’s vital that your chosen agent is up-to-speed with the legislation and that they keep you compliant throughout your agreement. 3. Choose an agent familiar with the student market If you want to target the burgeoning student market in Scotland’s capital, make sure your chosen agent has experience in dealing with student tenants. This can be quite different to renting to families or young professionals, and can often require a different skill set to ensure the property is maintained to a high standard and rents are paid on time. 4. Choose Cairn – HMO letting agents in Edinburgh Interested in letting an HMO property in Edinburgh? Choose Cairn. We offer a variety of HMO Development and HMO Property Management services, specialising in student lets. We can refurbish the property to comply with all legislation, working quickly, efficiently, and on budget. And our expertise in building warrants, planning permission, and HMO properties, in general, will deliver a property worthy of an HMO licence. Ready to get started? Contact us to learn more. .flex_column.av-2jhnc2-cc1f3e362b4a96ec9c81c881fa66be73{ -webkit-border-radius:0px 0px 0px 0px; -moz-border-radius:0px 0px 0px 0px; border-radius:0px 0px 0px 0px; padding:0px 0px 0px 0px;
HMO Properties, Glasgow, Student Accommodation
Glasgow HMO Properties: What Do Students Need to Know?
Glasgow HMO Properties: What Do Students Need to Know? Are you a student thinking of renting a Glasgow HMO property during term-time? Make sure you know the answers to these frequently asked questions. 1. What is an HMO? An HMO (House in Multiple Occupation) is a residential property where three or more unrelated people rent and share facilities (such as a toilet, bathroom, and kitchen). It’s also known as a “house share”. HMO properties are subject to strict licensing conditions. However, there are a few exceptions where an HMO licence isn’t required. For example, if you live with your landlord, they don’t count as one of the unrelated people. Similarly, by law, a landlord does not require a licence if tenants are a couple. This is defined as “married or civil partners, or living together as husband and wife or, where they are of the same sex, in an equivalent relationship”. 2. What are the licensing conditions? All HMO properties need to be licensed with the local council before they can be rented out. The council will typically inspect properties before issuing a licence. The licence means your landlord is responsible for the following: Quarterly inspections and fire training Smoke alarm installation on every level Clearing fire escapes of obstruction Keeping communal areas clean and tidy Ensuring waste disposal facilities are in place In addition to this, the rooms in the property must be of adequate size, and any gas and electrical appliances must be certified safe. A certified HMO property must have an HMO licence prominently displayed. If you can’t see one, ask the landlord to share a copy. 3. What are the risks of unlicensed Glasgow HMO properties? Unlicensed house share properties can sometimes be cheaper and therefore more attractive to students on a budget. However, the risks far outweigh the benefits. Not only are they illegal, but if your landlord is unwilling to licence the property correctly, where else might they be cutting corners? And will they respect your rights as a tenant? 4. How do I know if the property is licensed and certified safe? If you’re unsure that the property you’re looking at is licensed (and your landlord is evasive and won’t show you a copy of an up-to-date licence), don’t sign anything until you’ve checked for yourself. To do this, contact the Glasgow City Council Private Landlord Unit via email (privatelandlordregistrationunit@glasgow.gov.uk) or by phone (0300 343 0414). They’ll be able to tell you if an application for a licence has been lodged or refused. Rent a Glasgow HMO with Cairn We’ve been managing fully licensed Glasgow HMO properties for years. When you rent with Cairn, you’re in good hands. We conduct thorough tenant move-in training, taking you through health & safety regulations, smoke alarm testing, and how to use appliances. And we also carry out quarterly inspections to ensure the property remains safe, clean and comfortable, as per the HMO conditions. Are you interested in renting an HMO property in Glasgow? Get in touch to learn more.
HMO Properties, Edinburgh, Landlords, Student Accommodation, Tenants
Renting an HMO in Edinburgh: Advice for Landlords & Students
Renting an HMO in Edinburgh: Advice for Landlords & Students Interested in renting an HMO in Edinburgh? Read on for some important advice. An HMO (House in Multiple Occupation) is any residential property rented by at least 3 people who aren’t from the same household (for example, a family). In doing so, they also share key communal facilities such as a toilet, bathroom, and kitchen. Renting an HMO in Edinburgh comes with plenty of benefits for both landlords and students: Firstly, for landlords, HMOs can provide higher rental yields than one or two-bedroom properties. They also help to spread risk across multiple occupants. Meanwhile, for students, they offer a chance to comfortably live with 3, 4, 5 or more friends. This means you can easily split bills and other living expenses. However, if you’re interested in renting out (or living in) an HMO, there are a few important things you need to keep in mind. HMO in Edinburgh: What Do Landlords Need to Know? As a landlord of an HMO, it’s your responsibility to get an HMO licence and to manage and maintain the property to a high standard. This means you need to: Be a registered landlord Keep important certificates up-to-date Undertake quarterly inspections and fire training Fit smoke alarms on every level Keep fire escapes clear from obstruction Ensure upkeep of communal areas Make sure waste disposal facilities are in place Are you a landlord interested in letting an HMO property? Here at Cairn, we offer a variety of HMO Development and HMO Property Management services. Get in touch to find out more. What About Students Renting an HMO? As a student living in a house share, it’s helpful to understand the rules around HMO properties. Presuming your property has an HMO licence (you can check by emailing hmo.licensing@edinburgh.gov.uk), your landlord is legally-bound to meet certain safety and cleanliness standards. If you feel as though these standards have slipped, and your landlord isn’t responding, you can flag this to Edinburgh city council. They’re responsible for enforcing these standards and can compel your landlord to take the appropriate action. Are you a student interested in renting an HMO in Edinburgh? We manage several licenced HMO properties in the city. Get in touch to learn more.
HMO Properties, Guides, Landlords
Getting to Grips with HMO Licencing
Getting to Grips with HMO Licencing Are you a landlord looking to understand HMO licencing better? Here’s everything you need to know. If you’re thinking about renting your property to 3 or more tenants who aren’t related to one another, then you’re going to need an HMO licence. But what is it? Why does it matter? And what are your responsibilities? Let’s dig a little deeper. So, What is an HMO? HMO stands for House in Multiple Occupation. According to GOV.UK, an HMO is any residential property rented by at least 3 people who aren’t from the same household (for example, a family) but who share facilities such as a toilet, bathroom, and kitchen. It’s also known as a “house share”. Letting your property as an HMO is subject to strict conditions. These include: The property can’t be occupied as an HMO without a licence. Even if you have an application pending and it’s likely to be accepted, letting as an HMO without the correct paperwork will land you in hot water. The maximum penalty for doing so in Scotland is a fine of £50,000 upon conviction. The licence is issued by the local council in which the property is situated. The licence is typically valid for 5 years, but this can vary from one council to another. It may be issued for a shorter period if there are concerns over how the HMO property will impact neighbours. The council has the right to assess your property for potential risks. If you fail to comply with safety regulations, you could face criminal prosecution. It’s therefore vital that you ensure your property is safe and compliant before renting it as an HMO. The number of tenants. By law, you can only rent your property to as many people as stated on your licence. This is checked before your licence is issued. Assessors will inspect your property to see how many people can comfortably live there. If you exceed the number of tenants on your licence, you could face a hefty fine. HMO Licencing: Landlord Responsibilities As a landlord of an HMO, the buck stops with you when it comes to managing and maintaining the property and keeping your tenants safe. To stay on the right side of the law, you must: Be a registered landlord Keep important certificates up-to-date Undertake quarterly inspections and fire training Fit smoke alarms on every level Keep fire escapes clear from obstruction Ensure upkeep of communal areas Make sure waste disposal facilities are in place What Are the Benefits of an HMO? While the rules and responsibilities of renting out an HMO can be overwhelming, the benefits more than make up for it. HMOs can produce far higher rental yields than your typical buy-to-let property, and the demand for shared housing is fairly constant, no matter the economic backdrop. Plus, you can always pass those responsibilities onto a property management company (like Cairn) if you’d rather take a back seat. Interested in letting an HMO property? Here at Cairn, we offer a variety of HMO Development and HMO Property Management services. Get in touch to find out more.
HMO Properties, Buy To Let, Edinburgh, Investment, Student Accommodation
4 Huge Reasons Why You Should Buy-to-Let in Edinburgh
In truth, there are loads of reasons to invest in buy-to-let property. From passive income and tax planning to long-term capital growth, it remains a popular and lucrative investment opportunity. But why should you focus your attention on buy-to-let in Edinburgh specifically? In this short post, we take a look at 4 reasons why Scotland’s capital remains in-demand with property investors. Why Buy-to-Let in Edinburgh? 1. A growing population The population of Edinburgh has been trending upwards since the 1990s and shows no signs of slowing. As of 2020, it sits at a whopping 536,775, and this is projected to grow to over 603,000 by 2035. This means it could rival — and even overtake — Glasgow at some point in the near future. And a growing population means a greater demand for housing stock. Worth bearing in mind if you’re trying to choose between the two cities. 2. A thriving student market Edinburgh is home to 6 universities and 3 colleges. The city attracts students from across Scotland, the UK, and the rest of the world, not just for its outstanding educational facilities, but also for its rich history, architecture, and nightlife. According to a recent census, full-time students comprise around 12% of the city’s population — and these students need somewhere to live! Investing in high-quality HMO student accommodation can meet that demand and deliver greater yields for property investors. 3. Opportunities for young professionals As we mentioned, Edinburgh’s population is growing rapidly, and a significant factor in that growth is the younger generation calling the city home. Around 20% of the population are in their 20s (only Aberdeen has a higher percentage in Scotland) and 15% are in their 30s. And as of 2018, the Scottish capital was the most prosperous UK city outside London. Around 40% of the workforce are in high-skilled jobs, with an average full-time salary of £30,700. This certainly ticks a few boxes for would-be property investors; namely young, full-time working professionals with a high level of disposable income. 4. The biggest arts festival in the world In 2019, a record 3 MILLION people descended on Edinburgh for the largest arts festival going. And although new legislation will be introduced in 2021 to control Airbnb-style short-term lets, the sheer number of tourists and performers visiting the city each year represents a massive opportunity for property investors, both in the short and longer-term. Cairn: Buy-to-Let Edinburgh Experts Interested in exploring buy-to-let opportunities in Edinburgh? Get in touch with our property investment experts to learn more about our approach and services.
HMO Properties, Investment
INVESTING IN A HMO PROPERTY ?
Guide: Investing in HMO properties Average rent prices are still on the rise virtually everywhere in the UK. The figures, from Zoopla, show that its up 2.6% annual increase in rents across the UK is the highest rate seen in three years. With both Glasgow and Edinburgh having a shortage of supply, competition for available […]
HMO Properties, Student Accommodation
Student HMO Lets
Student HMO Lets What is an HMO property? Why do students need them? What do I have to do? These are some of the many questions that are being asked daily so we have created a quick fix to answer all of these questions and help to iron out all of your burning questions. […]
