Understanding and navigating the complexities of property compliance is vital for successful property management. For landlords operating rental properties, or Houses in Multiple Occupation (HMOs), obtaining the appropriate licence is not just a legal obligation but also a safeguard against significant fines and legal actions.
The cost of a property or HMO licence varies based on several factors, including property size, occupancy, location, and specific local council regulations. We have put together the guide below to empower you with a comprehensive overview of Property and HMO licence costs to assist you in streamlining the licensing process.
There are a variety of factors that influence the cost of obtaining a Property or HMO licence, including:
With the above in mind, it is essential for landlords to consult their local council’s guidelines to determine the exact costs associated with obtaining an HMO license.
With the upcoming Renters Rights Bill, the landlord database and prevalence of Property MOT’s, like Yuno’s, licensing and the need to comply with complex legislation are rapidly increasing.
Yuno is proposing reforms with the support of major letting agents, like Savills, they include challenging the UK’s licensing frameworks and complement the Renters Rights Bill (RRB) by promoting a more centralised and consistent system. Introducing a PRS Database and improving collaboration between local authorities will streamline processes, reduce administrative burdens, and enhance compliance, ensuring a smoother implementation of the RRB across all regions.
While fees vary by region, a general overview of HMO licensing costs includes:
Some councils may offer discounts for accredited landlords or not-for-profit organisations. Therefore, it is advisable to enquire about potential reductions when you apply.
Beyond the application fee, landlords should be aware of other possible expenses that are associated with Property and HMO licensing, including:
It is essential to budget for these additional expenses to avoid unexpected financial burdens during the licensing process, thereby reducing your risk of non-compliance and fines.
Failing to obtain the required Property or HMO licence can lead to severe consequences, including:
Timely, detailed and accurate applications for the appropriate licence are essential to prevent these legal and financial issues.
Yuno specialises in simplifying property compliance and licensing, offering services that include
With our expertise, landlords can navigate the licensing process more efficiently, potentially reducing overall costs and ensuring compliance with all legal requirements.
Ensuring compliance with Property and HMO licensing regulations is crucial for protecting your investment and maintaining a positive relationship with tenants. Yuno's team of specialists is ready to assist you in understanding and managing Property and HMO license costs effectively. Book a call today to discuss your specific needs and discover how Yuno can help you achieve seamless property compliance
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.
With his Chartered Accountant background and extensive experience in corporate finance, private equity, and real estate, Steve plays a pivotal role as our Financial Director and Advisor. His financial acumen is invaluable in shaping Yuno’s financial strategies and ensuring sound financial governance.
With over 25 years of experience, Steve’s insights and guidance are instrumental in driving Yuno’s financial success.
With over 15 years of professional experience spanning diverse sectors, from law enforcement to fintech, Russell brings a wealth of knowledge to our team.
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.