Can I Transfer A HMO License?
If you’re a HMO landlord in Liverpool ready to sell your property, you may wonder whether you can transfer your existing HMO license to its next owner.
Alternatively, you may be considering taking over an existing HMO in Liverpool and be wondering whether you can simplify the process by getting the existing license transferred into your name.
The bad news is that HMO license transfers are not possible.
Why Can’t HMO Licenses Be Transferred?
A HMO license can’t be transferred between owners if a property is bought and sold because the license applies only to the property in question, not its owner. If a property is changing hands, its new owner is required to make an application for their own HMO license, even when there is currently a license in place for the existing owner.
HMO licenses are unable to be transferred between individuals because the council is required to assess the ability of the property’s new owner to meet all the necessary HMO standards from cleanliness to fire safety. Just because the existing owner can meet those criteria doesn’t necessarily mean that a new owner will have the capabilities to do so.
Potential Changes Must Be Taken Into Account
Not only must the local council assess whether the HMOs new owner will be able to meet the license requirements, they must also bear in mind the property’s condition and if any changes have been made since granting the previous HMO license.
Furthermore, a change of owners could mean a change in the property’s usage, and that could have an impact on whether it is suitable to be granted an HMO license.
As an example, a new owner could have a plan to turn the property into another type of dwelling, or there may have been a change in the local planning regulations that mean the property no longer meets the HMO licensing criteria.
Making An HMO License Application
Since a HMO license is unable to be transferred between owners, it’s essential for the new owner to make an application for their own HMO license immediately after taking over the ownership of the HMO.
The good news is that if the property is currently licensed and you are not planning any changes to the property’s usage, it is very likely that you will be granted your license speedily so that you can start finding the perfect tenants.
It’s still important to check that the property is compliant with the licensing requirements before you make your application, though, and that you are familiar with all the regulations that are in place.
If you’re investing in a HMO in Liverpool and are looking for an easier way to manage your property, Portus Lets Ltd can help you. As experts in the Liverpool HMO rental market, you can depend on our team to take over every element of running your HMO property, from finding suitable tenants to rent collection and dealing with any issues that may arise.
We are happy to help. Get in touch with us today on 0151 329 3538 or email us here firstname.lastname@example.org with your questions.