Houses in Multiple Occupation
A property is classed as an HMO if three or more unrelated persons rent the same home, possibly sharing facilities like bathrooms and kitchens. Not all properties are suitable to be HMO’s and there are a number of extra regulations and costs but HMO’s can be substantially more profitable in comparison to standard residential lets. HMO’s have more overheads but can produce up to 75% more rental income and a ROI of 8% to 15%
Home Hub Southampton – Leaders In HMO Services
Here at Home Hub Southampton we have over 13 years experience of managing HMO’s, including our own. Many letting agencies will not consider HMO’s because they are more work and there is much more regulation (article 4 planning permission, HMO licensing and fire regulations for starters!), but we love HMOs!
We can source, develop, set up as well as manage HMO’s for a totally hands-free option.