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Hullo

 

I am currently selling our old house, which we have a HMO license for and was hoping for some advice....

 

Firstly, Do I need to notify the council that we want to terminate it? 

 

Secondly I have just found out that the buyer is going to have to rent whilst they are out of the country. They initially said it was residential, although he clearly plans to flip once he's done it up. I wondered if I could transfer the HMO (there are 4 years left) and potentially get a bit of cash for it? 

 

Can't find anything on it so suspect not.

 

We didn't sell it as an ongoing HMO as it is in more of a residential area/property.

 

Thanks in advance 

 

 

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You cant transfer a HMO licence (Housing Act 2004 s68(6), and its unlikely you'd be eligible for a refund as it's not required by law - although certainly worth an ask! 

However, you SHOULD ask the Authority to revoke the licence if you no longer need it, as otherwise you could still end up in the line of fire if something went wrong at the property and you were the licencee.....

 

 

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I believe changing a property to an HMO needs planning permission so I assume the same is true the other way round. Also I would've thought the property was worth more as an HMO as the value will be based on rental value rather than the normal residential value based on size & condition. With that in mind you may have undersold your property.

I also agree with the above comments re licence .

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