An HMO is a property where three or more unrelated tenants live one household, where they share a bathroom, kitchen and/or other facilities such as laundry rooms etc.
For the purposes of establishing what would be considered as an HMO, a household is seen as a single person, or members of the same family living in the same property, so four unrelated people in four separate rooms would make up four households, while a property with two couples would make up two households, even though they all reside under the same roof.
There are many different forms and makeups of HMO, however they’re most often a shared property in which the tenants aren’t related to each other, and where a single house is split into several rooms.
Shared student accommodations are also considered to be HMOs, as are hostels.
Essentially, for a property to be considered an HMO, rent must be paid, and it must be the occupants’ main residence.
We have all the knowledge and skills required to assist you in making a career out of investing in HMO Properties.
We can do as little or as much as you want us to.
From sourcing properties through to overseeing the conversion into an HMO and even finding tenants for you.
For more information about what an HMO is or if you’re considering investing in a property an turning it into an HMO contact us today.