HMO
Glenn T Harris is the number one choice for HMO (House in Multiple Occupation) housing, showcasing expertise and a steadfast commitment to property development. Our specialisation in optimising HMO properties demonstrates a deep understanding of the unique needs and regulatory intricacies within this market.
HMO is a rental property shared by three or more tenants who are not part of the same household, not a family who live together. HMOs typically have shared facilities, such as kitchens and bathrooms. Glenn T Harris has a track record of transforming properties into well-designed living spaces, ensuring each room is functional and complies with HMO regulations.
Navigating the complexities of HMO regulations is crucial as it guarantees that properties meet safety and legal standards. Building regulations include minimum standards for room sizes, fire safety measures, sanitation, and amenities. All which Glenn T Harris ensures are in place.
Beyond technical expertise, we believe design is essential for satisfaction. Modern and inviting communal spaces add to the overall appeal of HMO properties. With a focus on both functionality and visual appeal, Glenn T Harris stands as an outstanding choice for those seeking HMO solutions.
HMO Property
House in Multiple Occupation (HMO) arrangements can offer several benefits to property owners:
Renting out a property as an HMO often generates higher rental income compared to traditional single-family rentals. Landlords can charge rent per room, potentially increasing the overall rental yield.
With multiple tenants renting individual rooms, the risk of a property remaining vacant is typically lower compared to renting to a single tenant. Even if one room becomes vacant, the income from the other occupied rooms can help mitigate the financial impact.
HMO properties attract a diverse range of tenants, including students, young professionals, and individuals looking for affordable shared accommodation. Diversity can help landlords find tenants more easily and maintain steady occupancy levels.
Well-managed and licensed HMO properties can potentially have higher market values compared to similar properties in the same area. This is because the income generated from multiple tenants can increase the property’s overall profitability and attractiveness to investors.
It can offer greater flexibility in rental arrangements. Landlords can rent out rooms on short-term or long-term leases, adjust rental rates based on demand, and cater to specific tenant preferences.
By having multiple tenants, landlords even the risk associated with rental income. Even if one tenant encounters financial difficulties or moves out, the income from the other tenants can help offset any potential losses.
HMO Housing
Have questions about managing your HMO? Navigating the regulations, tenant management, and property maintenance can be complex. That’s why we’ve compiled a list of frequently asked questions to provide you with clarity and guidance.
A House in Multiple Occupation is property rented out by at least 3 people who are not from 1 ‘household’ (for instance, a family) but share facilities like the bathroom and kitchen. For instance, 3 brother or sisters living together are 1 household is not an HMO, whereas 3 friends living together are 3 households is an HMO. It’s sometimes referred as ‘house share’.
There are several laws regarding HMO. Accommodations are required to be safe, managed properly, have adequate facilities, limited amount of people in a room and avoid overcrowding. Additionally, there are regulations to comply with and these can differ depending on your area. Read more.
There has always been confusion on who is required to compensate for various bills. In short, it’s whoever is listed as the account holder with the provider who is responsible to pay the utility bill. As this is the case, it means all occupants of a property would need their names to be registered with the utility company to share equal responsibility for payment.
Before starting a HMO conversion, planning permission from your local council will need to be obtained . If you are renting to seven or more unrelated people, regardless of the number of bedrooms, it will definitely be required as it is a large HMO. However, the rules about planning permission vary by location and also by property size. Check your regulations in your area here.
Choose Glenn T Harris to handle your HMO and be rest assured that your property will be managed with expertise and care. With our commitment to high standards, reliable service, and extensive knowledge of property regulations, we guarantee an experience that maximizes your rental income while ensuring the safety and satisfaction of your tenants.
