HMO Properties in Edinburgh
Edinburgh is home to over 60,600 students which, coupled with a growing working age population, makes it a busy market for HMO properties. An HMO (House in Multiple Occupation) property is any residential accommodation used as the main residence for three or more unrelated tenants. Properties have to have a valid HMO licence in place before tenants can move in and the licence must be renewed as required during the tenancy.
We have taken over the management of several HMO properties recently, which have been passed to us from local, high street letting agents, without the required safety certificates. As the landlord, you are responsible for ensuring that your property has an HMO licence in place and remains up to date with safety legislation, even if you have a letting agent managing the property on your behalf.
Know your tenants
Even if you prefer a hands-off approach to being a landlord, you should still have some input when selecting new tenants. If there are three or more tenants moving in, it is important to establish if they are related or not – if they are unrelated an HMO licence will be required. Although your letting agent should be making these checks on your behalf, you will be liable if they do not, so always check yourself.
Ask to see the HMO licence certificate
HMO licences have to be renewed periodically, so don’t assume that having a licence when tenants move in covers the property for the whole tenancy. Your letting agent will hold a copy of the HMO licence, ask to see it so you know when it is due for renewal.
Challenge your letting agent
Finally, don’t be afraid to challenge your letting agent. The majority of letting agents always work in the best interest of their clients, however, your property is a significant investment, and you are entitled to know that it is being looked after properly.
We have created a step by step Landlord Guide with information on how to prepare your property for rent and the property management service that we provide at Clan Gordon. Request a copy of our Landlord Guide here.
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