Grow Your Portfolio With HMO Investment

House in Multiple Occupancy (HMO) properties are a great way of maximising returns. At the same time, the management of a HMO property can be incredibly time consuming. There is a lot more to consider including occupier compatibility, property licensing, safety regulations, and compliance paperwork.

At Paul O Shea we offer full management services to completely take the weight off your shoulders. Our full management service covers everything:

Decoration and dressing of the property
Making sure your property is compliant in line with council requirements
Advertising
Room viewings
Moving in suitable, fully referenced tenants
Day to day property management
Regular visits
24/7 availability to handle any emergencies

HMOs are extremely popular, especially with students and working professionals. People like convenient living and are increasingly looking for ways to save time and money travelling to work to spend more time creating their desired lifestyles. Now that the property market is resuming activity, we have seen property demand increase in the lettings market. Research by Rightmove found that demand for rental homes rose by 33% in May 2020, compared to May 2019! Landlords may wish to use this time to consider expanding their portfolios as there are plenty of prospective tenants looking for their next home. Investing in property now could lay the foundations for long term capital gains.

There are many lenders that are offering a range of mortgage products with excellent rates. If you are a landlord and have not needed a mortgage payment holiday, this could be your window of opportunity – especially for investment in HMO’s. Buy to let mortgage rates are low, with 5 year fixed rates available. A mortgage adviser found that last year HMOs produced the highest yields, proving that they are a successful investment.

Landlords who are seeking buy to let mortgages now have even more choice with Barclays, Lendinvest, and Virgin Money renewing their products to include increased variety. Over the past month, buy to let products have increased by 280, and with the Bank of England’s base rate still sitting at 0.1%, the rates are ever more competitive.

To talk to us about full management of your HMO properties, or if you are considering buying a HMO property, our friendly, proactive team have all the expertise to assist you.

17/06/20