Unlike a traditional single assured shorthold tenancy, the landlord will pay for all utilities such as water, gas and electricity in an HMO. This means the tenant has a fixed monthly cost to live at the property
Historically they tended to be for students and many were of a poor standard. We’ve now seen a huge swing to high-quality lettings, some with ensuites in every room, sky tv, even a cinema room! Affluent professionals who want the flexibility to relocate if needed and the simplicity of one monthly payment to cover all bills, including rent, heating lighting, broadband are now the main growth area.
Landlords have seen then increased rent that can be achieved from moving from a 3-bed house as a single let, to refurbishing to a 5 bed HMO. We can arrange funding to convert, as well as buy existing, HMOs, and have done many times for our landlord clients.