HMO – PROS AND CONS
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This week we wanted to discuss the pro’s and con’s for HMO Properties.
- Why do they continue to gain so much interest?
- Why do Investors find it challenging?
- how the trend has shifted & and what to expect in the future
- Upto 3 x higher rental yields.
- HMO can achieve higher returns than a single BTL
- There will be more work involved but if it was easy everyone would be doing it.
- True value is located where the masses cannot reach
- It is more difficult for young professionals or students to afford rental accommodation especially in popular areas.
- The standard of HMO’s has reached an all time high compared to previous years and this is helping tenants consider shared accommodations.
- This was more common in students and major cities however this is no longer the case and can be found all over the country.
- Getting the right location can be easy and difficult at the same time.
- In the past student areas and cities were often the best places however this has significantly changed as young professionals desire HMO’s too.
- Do your research online and offline, it would also help speaking to any agents managing HMO’s in the area you desire.
Licencing and legal requirements
- General licencing regarding HMO properties will also vary from council to council as they all have different requirements.
- Article 4 does not apply to all areas however it is very essential to understand if this is applicable to the areas you wish to invest in.
- Always contact your local planning department to find any Article 4 areas before investing.
CHECK OUT OUR HMO REFURBISHMENT MANUALS
Please don’t hesitate to contact me on 0191 491 0344 option or email me firstname.lastname@example.org to discuss your Investment choice or to book you in for a 30 minute strategic phone call.
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