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HMO Mortgages
What is a Maintenance Charge?
Definition: A Maintenance Charge covers the cost of repairing and maintaining communal areas in multi-unit properties like HMOs.
About Maintenance Charge
Maintenance charges are fees paid by tenants to cover the cost of maintaining common areas and shared facilities in HMO properties. These charges must be clearly defined and reasonable.
For HMO landlords, maintenance charges can help cover the cost of cleaning common areas, maintaining shared facilities, and general property upkeep. Charges must be clearly set out in the tenancy agreement.
Landlords must ensure maintenance charges are reasonable and properly accounted for. Excessive charges can lead to disputes and may be challenged by tenants or local authorities.
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Important: Rates shown are indicative and subject to status. Your home may be repossessed if you do not keep up repayments on your mortgage. Terms and conditions apply. For current rates and full details, please .