Greenwich Council recently took some big steps that could have a massive impact on investors and landlords in the area. In the near future they will require that planning permission be applied for before private rental properties are let to multiple people. As a result anybody thinking of operating a HMO must have the correct permission.
The move is designed by the council to raise the quality of housing and protect tenants from unsafe homes. By asking landlords to apply for planning it gives the local authority a better chance to vet them and ensure they will deliver the right standards. This in turn will reduce the number of landlords who offer inappropriate properties.
The new ruling comes in the form of an Article 4 Direction. It effectively removes permitted development rights for small HMOs, meaning that conversions even for homes with less than six people sharing will need to be granted permission. Previously HMOs with three floors or more and housing more than six people required intervention from the local authority.
The plans for making it harder to convert a property into a HMO were first approved in the middle of September. The announcement at the start of October details the timeline for the introduction of the Directive. The change will become law in 12 months so prospective investors need to be aware.
At Finefair we have become one of the most flexible providers of property management Greenwich has. The reason for this is we can handle managing all kinds of properties, including HMOs of various sizes. We work closely with clients, sharing our specialist knowledge and ensuring that we achieve the very best standards.
If you have any concerns about the change in law and would like to consult with us regarding your strategy for the future please get in touch. We are happy to help and will ensure you can make a well informed decision. We will also offer reliable property management Greenwich investors can trust for the long term.