Investment profile
A selective search for an established, well-run HMO where living quality and management are right from day one.
Rather buy a good HMO than try to create one
HMOs are a market of their own in the United Kingdom. Many parties offer to find a house, refurbish it and then let it room by room. That can be interesting, but for our first HMO we are deliberately looking for something different.
Our preference is for an established, well-finished HMO that is already let and whose day-to-day operation we can assess immediately.
A small hotel, but as a home
We look beyond room numbers and rent per room. An HMO should simply be a good place to live. In the Durham case we are exploring, every resident has a modern en-suite bathroom, while the kitchen and laundry facilities are shared.
Our test is simple: could we live here ourselves if our lives looked different? For shared living, that says a great deal about quality.
Responsibility nearby
Local management is essential here too. With several residents under one roof, enquiries, maintenance and changes need to be handled promptly and carefully. Property at a distance works for us only when people nearby take responsibility.
Features
- Established and let HMO
- Modern en-suite bathrooms
- Shared kitchen and laundry facilities
- Local management as a principle