House in Multiple Occupation (HMO) Valuations
It’s become increasingly difficult to secure an HMO licence in recent years and as such, if you’re lucky enough to have one for your property, you’ll most likely be pleased to hear that there are regulatory requirements that permit Chartered Surveyors to take into consideration the income achieved when valuing it.
For licencing purposes, the Housing Act 2004 was amended in 2018 to require an HMO licence for any property occupied by five or more people forming two or more separate households.
Considered within the valuation will be the space requirements under regulation 2. This provides minimum room sizes of:
- 4.64sqm for children aged under 10
- 6.51sqm for a single person aged 10 and over
- 10.22sqm for a room occupied by two people aged 10 and over
These are useable areas, with anything under 1.4m in height for example not being included.
It is also important to be aware that these are minimum areas. Some Council’s have chosen to stipulate larger areas.
Our services span most of London and some surrounding areas including Hertfordshire, Buckinghamshire, Essex and parts of Surrey and Sussex.
Please contact us if you would like to discuss your requirements on 020 8017 1943.