Wondering if I could get some advice from the forum about converting my flat into an HMO. I found there are more applicants for my flat that are shared so want to explore what an HMO involves.
Have read the council website and found some information but have some questions.
Not sure if here is anyone here who has a flat in Camden London or just experienced enough for me to ask some questions to help better understand what I need and the associated cost.
For example:
Can I have a room as small as 6.51m2
If my flat is quite old and needs an additional 2 Power sockets - could this need me to re-wire the whole flat?
Not sure how it all works but welcome any advise anyone can share!
HMOs may require adaptations such as fire doors and interlinked mains wired smoke alarms. Sometimes extra bsthrooms and kitchens. These can be costly, as can the licence fee. The main difference is the level of management required. You would legally be the HMO Manager as well as landlord.
I would not recommend this course of action unless you have the time to do the job properly and you do some training in the legal and practical issues.
I guess a lot of the responses here are caused by people making assumptions about what kind of HMO you will be renting out, but my understanding is that you have a normal flat and just want to be able to rent it to 3 people sharing, maybe more, but more like a group of friends but not a place for homeless, refugees, etc. Personally I don’t think its a bad idea to get your flat HMO-ready as it were to give more flexibility, so on next tenant break I will also do the same in my 2-bed ex-council flat, which will involve me just putting fire doors in. Last time around I had applications from e.g. 3 philipino nurses who were quite happy to share bedrooms and seemed like nice tenants but as I wasn’t HMO ready then I couldn’t consider them. Is this your situation?
There are differences between the various types and sizes of HMO, but most of the issues are the same. Many Councils licence 3 person HMOs and even if they don’t, the HMO Management Regulations apply. Three friends or colleagues starting a tenancy together doesn’t mean they will all want to leave together, so you’re immediately faced with the question of either having joint tenants or individual room only tenancies. Both options come with their own issues. I stand by my post above.