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Are HMOs High Risk or High Reward?

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Manage episode 434328708 series 3504934
Contenuto fornito da property investors network and Property investors network. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da property investors network and Property investors network o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

In today’s podcast, Mark delves into the question: Are HMOs (Houses in Multiple Occupation) high risk or high return?

When considering purchasing a property in an Article 4 area, it's important to note that you’ll need planning permission to convert and operate it as an HMO. To determine whether this investment is worthwhile, you should first assess the demand for HMOs in that specific area.

Operating an HMO comes with higher running costs compared to a single let, where many expenses are typically covered by the tenant. You must evaluate whether these costs will significantly impact your profit margins and if the rental income can offset them.

Another key difference between HMOs and single lets is the level of involvement required. In a single let, tenant disputes, such as family disagreements, generally don’t require your intervention. However, in an HMO, conflicts between tenants might necessitate your involvement, sometimes even leading to the removal of a tenant if the situation becomes unsafe.

VALUABLE RESOURCES:

CONNECT WITH US:

Facebook: https://www.facebook.com/propertyinvestorsnetworkuk
LinkedIn: https://www.linkedin.com/company/property-investors-network
YouTube: https://www.youtube.com/c/propertyinvestorsnetwork
Twitter: https://twitter.com/pin_uk/
Instagram: https://www.instagram.com/propertyinvestorsnetworkuk/
TikTok: https://www.tiktok.com/@propertyinvestorsnetwork

  continue reading

124 episodi

Artwork
iconCondividi
 
Manage episode 434328708 series 3504934
Contenuto fornito da property investors network and Property investors network. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da property investors network and Property investors network o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

In today’s podcast, Mark delves into the question: Are HMOs (Houses in Multiple Occupation) high risk or high return?

When considering purchasing a property in an Article 4 area, it's important to note that you’ll need planning permission to convert and operate it as an HMO. To determine whether this investment is worthwhile, you should first assess the demand for HMOs in that specific area.

Operating an HMO comes with higher running costs compared to a single let, where many expenses are typically covered by the tenant. You must evaluate whether these costs will significantly impact your profit margins and if the rental income can offset them.

Another key difference between HMOs and single lets is the level of involvement required. In a single let, tenant disputes, such as family disagreements, generally don’t require your intervention. However, in an HMO, conflicts between tenants might necessitate your involvement, sometimes even leading to the removal of a tenant if the situation becomes unsafe.

VALUABLE RESOURCES:

CONNECT WITH US:

Facebook: https://www.facebook.com/propertyinvestorsnetworkuk
LinkedIn: https://www.linkedin.com/company/property-investors-network
YouTube: https://www.youtube.com/c/propertyinvestorsnetwork
Twitter: https://twitter.com/pin_uk/
Instagram: https://www.instagram.com/propertyinvestorsnetworkuk/
TikTok: https://www.tiktok.com/@propertyinvestorsnetwork

  continue reading

124 episodi

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