When a landlord purchases a new property that was previously subject to licensing to rent (such as a HMO), and the landlord wants to continue renting the property in a similar way they must obtain a new licence. Licences are not transferable between owners (s68(6) Housing Act 2004). This will give the new purchaser confidence that their property will likely be granted a licence but it is imperative that they gain a new licence from their council.
A landlord will also take on extra obligations when letting a HMO.