Should I include HMO licence costs in the calculator?

Yes, if the property needs one. A property shared by five or more people from more than one household needs a mandatory HMO licence, and many councils also license smaller HMOs under additional licensing schemes. Licence fees vary by council and a licence can last up to five years, so enter the fee as a cost spread across the licence term rather than as a one-off. To see which licensing schemes cover a property, use the postcode property checker. If you’re not sure the property is an HMO at all, see what counts as an HMO.