Introduction HMO’s have the added advantage of not only producing a much higher income than the same property let as a single let but the ability to be valued not only on their ‘bricks and mortar’ value i.e. the traditional method of valuing a building but on their income known as valuing on yields or ...…
What is the difference between HMO’s and Multilets? Each lender has a different interpretation of what a HMO is and what a Multi let is. The word ‘Multi let’ is generally more acceptable to lenders. It is often a question of degree. E.g. if each room has its own facilities i.e kitchen & bathroom it ...…
I have great sympathy with the new property investor of today, especially the conscientious ones who try to research the business. There is so much more information out there on how to do it. When I started there was nothing. Understanding and absorbing all the different opportunities would take ages:-UK or abroad? Which country? Which ...…
An easy way to obtain property is to use lease options. Offer the owner a long term rental and include a right to buy, we’ll discuss this more later. Options never existed in the residential field until recently, though I did two lease options in 1995 before I even knew they had a name. Lease ...…
The steps that follow reveal the secrets to successfully converting and running HMO’s. 1. Find the right property As long as the layout of the property suits you being able to split it into units, there are no major considerations in choosing a property in which to convert into an HMO. Most council officials do not ...…
In order to run a successful HMO business it`s essential that you know your rights and responsibilities as a landlord so that you can provide your tenants with the best possible environment. In this article, we`ll take a look at some of the rights and responsibilities associated with being a HMO landlord. HMO stands for ...…
I have found that the most effective way to fill my properties is by placing classified ads in the local evening newspaper, though I know from other HMO landlords that in cities, the web works very well and is FREE to advertise on! Second best are cards in shop windows and a board on the ...…
The reason that I use licenses instead of the traditional Assured Shorthold Tenancies (AST’s) for my Houses in Multiple Occupation (HMO) is, it is easier to remove licensees than tenants. The main reason why I need to remove occupiers is that they are not paying rent. Where the occupier is an AST, if I use ...…
Never has there been a better time for acquiring properties especially to let as Houses in Multiple Occupation (HMOs) than now. I have been in the business for 20 years and last year was good but this year I believe is going to be better. With the increasing acceptance of long term Rent-to-Rent, Lease Options ...…
Property investment is not difficult, I compare it to used car dealing except the figures are larger, the strategy is different and it is much easier. Property is less complicated than cars and the longer you keep property the more valuable it becomes unlike cars which usually depreciate. However, whilst you are waiting for your ...…
