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Here are 3 Ways To Sell A House Of Multiple Occupancy. But first, What Is An HMO? A house of multiple occupancy?
A HMO is any property which is tenanted by three or more people who are not a family where there are shared facilities such as bathrooms and kitchens. This is very much a simplified definition. If you look at this flowchart from Salford Council then you’ll see that there can be many more elements that come into play when defining exactly what a HMO is.
Also, it is often that different local authorities have different criteria for defining exactly what a HMO is. There can be different licensing requirements and there will certainly be different planning regulations in place with aspects like article 4
Most investors know that HMOs can make superb investments. They give rental yields that can’t be achieved with standard buy-to-lets and in the right areas, the demand for affordable, flexible housing as offered by multi-let properties has never been higher.
But sometimes a planned exit is needed and a sale of a HMO should be considered with more thought than just working with a local estate agent.
In today’s video, we look at the three ways an investor can sell a HMO.
So whether you are a landlord that has owned a house of multiple occupation for a number of years and now wish to sell or you are a developer that buy, refurbishes, tenants and then sells HMOs regularly we can help with a solution that is specific to selling these types of properties.
Click here if you are looking to sell any of you’re buy to let’s, HMOs, or part of your property portfolio and we would be happy to help
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