HMO Landlords facing tough fines
Most investors know that an HMO can make superb investments. However, the path isn’t always a straightforward one, and managing an HMO can come with its own set of hurdles. Recently, landlords have been facing high fines due to offences related to fire and electrical safety. These fines ranged from £6,000 to as high as £60,000. They were delivered to landlords for offences that included faulty fire detectors, lack of fire doors and electrical defects. This has highlighted the importance of using professional letting agents to help landlords manage HMOs.
As with any rental property, it is the landlord’s responsibility to ensure properties are adhering to the correct safety guidelines. However, when landlords have multiple houses with multiple tenants, things can easily get overlooked. Recently landlords were found failing to ensure their properties are safe for the tenants. Some of the reported examples were things such as the condition of appliances in the kitchen, structural damage, faulty fire detectors and unsecured doors.
Why use a property management agent?
Now more than ever before, regulations and laws surrounding rental properties, especially HMOs have tightened. Also, with more people spending time at home, landlords are being held accountable for better maintenance and upkeep of homes. One landlord in Barnet was reportedly fined £10,000 due to safety negligence that led to six tenants being left homeless. With this recent focus on Landlords, can you afford to overlook a battery in a fire alarm? Now might just be the time to invest in a property management company for support.
Here at Thompsons Lettings, we pride ourselves on providing the highest quality support for all our landlords. With over two decades of managing HMOs, we have an impressive portfolio of landlords that we are proud to support. If you would like to find out more contact us today.