Serviced accommodation is under threat

Hello everybody, you might be aware that the government has decided to involve itself in this serviced the accommodation industry and they are planning to make changes in law which will require you to get planning permission before you can use the property for service accommodation.

Behind me here, is a property that we’d sold for use as a HMO, but because it was already being used as a HMO, despite the fact that licensing has been brought in, in this postcode area, this property could continue to operate under grandfather rights.

I believe that the same will apply to serviced accommodation, so if you’re thinking to actually set up or convert a property into serviced accommodation, or indeed if you buy a property for use as serviced accommodation, you need to act very, very quickly because it is my belief that once you’re up and running, if the law changes, you will actually gain grandfather rights so not only will you be able to continue using your property for serviced accommodation, but the value of your property will increase because it will have planning permission via grandfather rights.

So two reasons that you need to press ahead very quickly, as this is quite a serious matter. I have written a guide about serviced accommodation which I will put a link to in the description it’s free, feel free to download it, it’s not in depth it’s just a few things to consider but it’s definitely well worth a read and if you have any questions about anything to do with Property Service accommodation HMO Investments developments or anything of that sort as always please feel free to get in touch and I’ll see you in the next video.