As a general rule, landlord licensing is a great concept. This allows councils to ensure the quality of landlords and rental properties throughout the UK. Before deciding whether or not buy to let is still worth it, it is very important to understand licensing.
Whilst there are different licensing schemes within the UK property market, by far the most complicated is England. The main reason being that each local authority has the power to have their own rules on licensing.
There are currently three types of property licensing:
England does not currently have mandatory licensing for all privately rented property landlords. It does however have mandatory HMO licensing along with additional HMO licensing.
A property can only be licensed once so as long as it meets the requirements for mandatory licensing, there is no need for any additional licensing.
Up until October 2018 one of the criteria was that the property had three or more storeys. Since October 2018 and property that houses 5 or more people, forming two or more households have to be licensed regardless of the number of storeys.
Costs can range anything from £500 through to £1,000 and are usually issued for 5 years meaning that the investment per year is around £100 to £200.
Where there is no selective licensing scheme in place a local authority can levy regulation on smaller HMO properties. These are typically properties with three or four occupants.
The cost of such license can range from £197 for a one year renewal through to £1,550 for a higher rate application.
This type of license was introduced to address the problems of poor quality landlords and reduce the levels of anti-social behaviour. Its primary objective was to tackle issues in those areas with low housing demand. This said the act also allows for selective licensing in other circumstances.
With Yuno landlord software platform we help Landlords navigate the tricky aspect of regulations and licensing to ensure that they stay ahead of the game and don’t end up being fined.
By using our platform you can ensure that you are up to date with all of the local area regulations and licensing requirements whilst also accessing an array of self help material.
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Effortlessly stay on top of property legislation with a digital compliance report for every property in the UK. Yuno offers an all-in-one solution for seamless digital audits, real-time updates, and a wealth of property compliance knowledge, transforming compliance from a daunting obligation into a strategic advantage.
With over 15 years immersed in the property sector, Paul’s expertise is unparalleled. From his beginnings as a developer in Chelsea to pioneering the innovative Yuno property compliance model, his journey showcases a deep understanding of the industry’s intricacies.
Having been a slave to the beast of responsibility & liability, Paul decided to partner with property legal professionals & experts to create a platform that would empower all with the knowledge and means to set themselves free once and for all. With Yuno, you’re not just complying; you’re thriving.
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With over 25 years of experience, Steve’s insights and guidance are instrumental in driving Yuno’s financial success.
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In 2016, Russell’s entrepreneurial spirit led him to raise an impressive $8 million for the establishment of Paymenta, a cutting-edge platform specializing in foreign exchange and remittances.
Russell is a proud graduate of Oxford, where he earned his PGDip in Software and System Security. His expertise and passion for technology make him an invaluable asset to Yuno, ensuring our platform remains at the forefront of innovation.
Lori brings over two decades of expertise in estate agency and the private rental sector to the Yuno team.
As a valued advisor, Lori plays a crucial role in shaping Yuno’s compliance solutions, ensuring they meet the needs of our clients in an ever-evolving industry. Her wealth of knowledge and commitment to excellence make her an integral part of our mission to simplify compliance in property management.
David’s legal prowess in property litigation, property regulation, and data protection is unparalleled. His extensive experience, especially in matters concerning residential tenancies and agencies, makes him an invaluable asset to Yuno.
With a keen eye for new legislation and obligations, David excels in advising and litigating complex property issues. He has a knack for finding innovative solutions within existing laws to tackle unique client challenges.
With a proven track record of nurturing businesses and an in-depth understanding of consumer behaviour in relation to property, Kate is a true industry figure. Her insights and expertise are invaluable to Yuno’s mission.
Kate’s dedication to improving the property industry aligns perfectly with our goals, and her guidance helps us continually evolve to meet the needs of property professionals and consumers alike.
