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ajfirth

Company Let

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Hi all, 

We are currently looking at a deal with an estate agent where the property is currently rented out on a company let. The company are keen to extend the AST for another 12 months. 

It is currently occupied by three unrelated people, each with their own room, with a shared kitchen and bathroom. 

It’s my understanding that the property does not require a HMO licence as there are less than 5 occupiers. 

My questions are (I’m sure I’ll think of more); do we need to consider anything specific for a company let? What should we do differently than a vanilla BTL? Are there any additional laws / requirements for this type of tenant? 

The numbers are really lucrative, and with the company keen on extending the AST we are hoping for a nice quick turnaround should we decide to pull the trigger. 

Thanks!

Adam 

 

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The rules changed in October and I think this now counts as an HMO, although you may get grandfather rights since it was operating previously. Search up HMO licensing on the gov website and have a read around, but make sure you find out the rules before going ahead - as you say, it's lucrative, so why is the owner selling up?

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