Do You Have The Right HMO Landlord Insurance?
HMO landlord insurance
At Higos, we understand that finding the right cover for your HMO property (Houses of multiple occupancy) is as important as finding the right tenants. With over 30 years knowledge and expertise our dedicated team can provide bespoke HMO insurance required for landlords who have HMO properties with three or more unrelated tenants in one household sharing common facilities. We can also include cover for HMO's if they have a large HMO property with 5 or more tenants sharing common facilities. That’s why we’ll never try and sell you a one-size-fits-all solution but tailor a policy to your exact requirements.
Do I need a HMO License?
If a property is considered a large HMO with 5 or more tenants sharing common facilities, landlords will have specific obligations.
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They will require a license from the council. (This will cost money)
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If a license isn’t obtained by a landlord with 5 or more tenants they can be fined and ordered to repay up to 12 months' rent or repossess their property.
Important HMO property questions to remain compliant.
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Is there a good level of tenant vetting?
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Have guarantors been used?
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Background checks been made by the landlord or agency?
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Has the landlord received written references?
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Is the property regularly inspected by the landlord or agent?
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Are electrics and boilers inspections up to date?
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Are fire risk assessments up to date?
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Is there any cooking in the bedrooms?
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Checked minimum room size
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Landlords contact details in a visible communal area
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Comply with the local authority’s waste storage and disposal scheme
Additional HMO building insurance cover we can provide
We can also provide cover to include the following:
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Accidental damage cover
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Malicious damage by tenants
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Property owners liability
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Employers liability
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Loss of rent
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Alternative accommodation