HMO Question & Answer
At Properties-on-Sea we specalise in HMO Property Management and we’ve provided some resources and top tips below;
Book of the month- 101 Essential Tips for Running a Professional HMO by Wendy Whittaker-Large. This is a fantastic book for beginners but also a good revision for more seasoned developers looking to get into HMO investing; give Wendy a follow, she has lots of amazing information on her page.
HMO Q&A
What is a HMO? The meaning of houses in multiple occupation (HMOs) HMOs are defined under sections 254 and 257 of the Housing Act 2004.HMOs include house and flat shares, student homes, bedsits and some buildings converted into self-contained flats.
What Legislation governs HMOs? Did you know that there are over 150 pieces of legislation impacting landlords? The majority of this applies to HMOs. Legislation, regulations and compliance can be difficult to navigate. Why not contact us today to manage your properties and make sure all your properties are compliant and up to date on regulations.
How to find Great HMO Tenants? The main benefit of HMOs is increased rental yield, but demand for HMOs is also higher, as shared housing is more affordable. 33% of tenants are now in the 25-34 category. This demographic is the most likely to rent a room in an HMO Furthermore, HMOs appeal to students and various workers seeking short-term accommodation. Demand for HMO accommodation is often much higher in towns and cities, where younger people often can’t afford to rent a self-contained flat. Website such as Spare Room or Open Rent offer a great place to advertise your property. They both cost a small monthly fee but can be worth investing in for tenants.
What is a HMO Article 4?
HMO Article 4 directions are a legal means through which a council can require property owners to obtain planning permission when converting single homes or residential properties (C3 use class) into HMOs (C4 use class).
What support is there for HMO Landlords? Do you know about the Property Investors Network? Since 2003, the property investors network has provided a positive, inspirational and supportive environment in which you can learn how to become a more successful property investor. The local Essex meeting is held in Thurrock. We love attending!
What are required for kitchens in HMOs?Having a spacious kitchen will not only make your tenants happy but also keep them safe. Understanding the required kitchen size is crucial when deciding if you can convert a property into an HMO.If you’d like to talk to an architect that’s helped hundreds of people design beautiful kitchens to satisfy the HMO kitchen requirements, please get in touch.
A great tip for Landlords is to get bike storageA lot of HMO tenants have a bike to get around but they are a fire hazard if they are kept in the common areas. Providing your tenants a safe and secure space to store their bikes, not only means happy tenants but also means you meet fire regulations.
Commercial properties to HMO- Many commercial properties can be converted from commercial properties, such as shops, restaurants or offices to residential homes or apartments. However, before you embark on a conversion, there are several steps to consider first. Importantly, not every property is eligible for a change of use from commercial to residential and it is essential to ensure that the property you have in mind does not fall under this category of exemptions.