Landlord Insurance for HMOs

Houses in multiple occupancy (HMO) is difficult to distinguish what type of licence is needed especially for landlord insurance. If you own a property which is occupied by two or more separate households, this is defined as a HMO. However, some HMOs require a special license, yet others don’t, depending on the type HMO you own.

If your property is 2 or more storeys high, with 5 or more tenants who are not part of the same family occupying the building and if those tenants consist of two or more households that share some facilities, this property requires a license. Also, the property must be the tenants’ main residence and the communal areas must be for the sole use of the tenants to make this a HMO. An example of this could be students sharing a house that all have their own different bedrooms and pay rent separately.

Licensing your HMO

A license for your property runs for a maximum of five years and can be obtained by your local authority. However, you will only be granted a license by your local authority if all safety standards are met. Including, up to date safety certificates, working fire alarms, fire extinguishers/smoke detectors and adequate marked escape routes in the event of an emergency.

Failing to obtain a license or breaching the conditions of the requirements is a criminal offence and therefore resulting in you not being able to continue as a landlord.

To apply for a HMO license, click here to apply for an application form for your property.

Landlord Insurance for a HMO

Determining whether your property is classified as a HMO and what the nature of the occupancy is, will affect the type of policy you will need. However, failure to present the right information could mean that the policy is invalid/void.

At Todd and Cue, we will help you figure out which type of landlord insurance is best suited/needed for you and your property (even if it’s a HMO).

For more information on property and landlord insurance please Click here.

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