There’s been an exciting step forward for landlords in St Andrews as the university secures permission for 15 new HMO licenses. If you are a landlord looking to secure tenants, here’s what you need to know.
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There is ongoing demand for properties for three or more students in St Andrews, however, in order for a property to be rented out to multiple tenants, the landlord must have a HMO license.
Since 2019, no new HMO licenses have been awarded to landlords in St Andrews and its town centre.
But that’s all changing, as the University of St Andrews has secured permission for 15 new HMO licenses from Fife Council.
New HMO properties needed in St Andrews
The new HMO licenses will be granted to properties in St Andrews and its town centre. These HMO licensed properties must be rented to University of St Andrews students.
If you have a property in the area suitable for multiple occupants but aren’t sure how to go about renting it out, this is your chance to become a student landlord.
And now’s the ideal time to do it, with expert help from the University of St Andrews! Here are three reasons to apply now.
1. Get help completing your HMO license application
Are you unsure how the process of applying for a HMO license works? Don’t let that hold you back, support is available.
The University of St Andrews property services team and Fife Council will help those looking to secure one of the 15 new HMO licenses available for St Andrews. You can get their advice and administrative support during the process, and applications will be fast-tracked.
2. Licensed properties will be fully managed
After securing a HMO license, the University of St Andrews property management service will look after the process of letting out your property.
From the day-to-day management and maintenance of the property to the leasing agreement with tenants, its expert team will take care of it all.
3. You will receive a guaranteed monthly income
As a University of St Andrews managed property, you will be paid a monthly rental all year round, whether students are living in your property or not.
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Find out more about becoming a student landlord in St Andrews. Email propertyservices@st-andrews.ac.uk to ask any questions or to take the next step.
