Havering Council recently finalised its move to introduce a licensing scheme for HMOs across 12 wards in the Borough. A licence will last for 5 years and costs £900 unless landlords sign up before February 2018 and take advantage of the early discount.
The aim of the scheme is to improve management standards for HMOs and tackle rouge landlords. Those that don’t obtain a licence will be liable for penalties. Any landlord who has joined the licensing scheme but is found to fail in managing or maintaining properties could have the licence revoked. Both of these would hit the owner financially.
Discussions regarding the plans for the scheme had been held for a number of months but positive responses kept them moving forwards. The final approval was made earlier in October. Landlords and HMO managers now need to make sure they meet their responsibilities, both in terms of obtaining the licence and ensuring that they retain standards effectively.
Many councils in London are taking similar steps to Havering in order to address ongoing concerns about how poor HMO management can negatively impact communities. It has been claimed that poor standards encourage anti-social behaviour and bad living conditions. Failure to maintain a property effectively also puts the health of residents at risk.
At Finefair we provide property management for investors all across London. Our focus is always on achieving the highest standards we can, ensuring property owners get the best returns from their assets and satisfying the needs of tenants. We have great relationships with local councils and always abide by their requirements.
One service we are renowned for is being the leading name for council leasing Havering has. We can arrange for property owners to make their assets available for the local authority to use to house tenants who need help. This kind of move can provide a number of benefits, including high standards of property management and assurances on income.
If council leasing is an option you want to consider we can offer advice and information. Get in touch with us and we will provide our full support.