We wanted to bring to your attention some recent developments regarding housing licensing in London that may impact you as a landlord.
Local authorities throughout London have begun introducing selective and additional HMO (House in Multiple Occupation) licensing requirements. These measures are being implemented on a borough-by-borough basis, meaning that the regulations may vary depending on the specific location of your property.
It's crucial to be aware that failure to obtain the required license for your property could result in significant fines and penalties. We understand that navigating these licensing requirements might seem daunting, but licenses can be easily applied for online. Normally you will need all the current safety certificates, a floorplan, fire risk assessment and to get in touch with the freeholder and mortgage provider to inform them that you are applying.
Each borough sets its own licensing fees, which can vary. We have already applied for licenses on behalf of our management clients, subject to a fee. However, we've noticed that many reputable landlords may not be aware of these new licensing policies.
The trajectory of this year indicates a remarkable surge poised to surpass the record set in 2023, with 32 new schemes anticipated, as reported by Kamma. Within the initial four months alone, a staggering 19 selective and additional licensing schemes and consultations have been initiated.
Notably, six new licensing schemes have already commenced in prominent locations such as Greenwich, Nottingham, Islington, Warwick, and Luton. London emerges as a frontrunner, with active consultations underway in boroughs like Haringey, Lambeth, Waltham Forest, and most recently Bexley. This widespread activity underscores a robust commitment to implementing fresh selective and additional licensing measures across the capital.
