If you have any dealings in the property industry, you might have heard the name Siddharth Mahajan. It is often connected with the idea of the unethical landlord and illegal properties. But just how accurate is this depiction?
The Siddharth Mahajan property case is much more complicated than the version portrayed both in the press and in the rumours swirling around online. Let’s have a closer look at the case and find out more about what really happened and why.
Who is Siddharth Mahajan?
Siddharth Mahajan is a real estate entrepreneur and the owner of Tulip Hotels and Real Estate Ltd. He was accused of forging documents and not complying with the UK regulations regarding the status and use of Houses in Multiple Occupation, also known as HMOs. But the facts of the case are disputed by Siddharth Mahajan. He claims that he broke no laws and forged no documents.
Mr. Mahajan comes from a background in hospitality, completing his degree in Hotel Management from the Oriental School of Hotel Management. He worked for several years in his native India before making the move to London. He started his business with the aim of catering for travellers looking for a little bit of home when abroad.
His empire soon grew to more than 50 properties, all offering accommodation to people visiting the UK for long periods.
What is an HMO?
Siddharth Mahajan then had the idea to let the different rooms in his properties on an individual basis. The idea was based on the concept of a serviced apartment, targeting corporate visitors and overseas students. This concept grew to incorporate all 57 of his properties, some in his name and others in the name of his business, Tulip Hotels.
HMOs are common across the UK but they require a different set of licences to other rental properties. Any investor planning on converting a building to HMO status needs to do so in accordance with the law. Speak to your local council to find out more.
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