The High Cost of HMO License Rejection An HMO license application refusal is more than just a headache. It's a costly, time-consuming setback that can derail your entire investment strategy. You've already spent money on surveys, certificates, and inspections. You've prepared your property. You've submitted your application. And then comes the rejection letter. The financial impact is real. Every month your property sits unlicensed is a month of lost rental income. If you've