HMO: Heaven or Hell?
As tax changes and buy to let mortgage restrictions start to bite, an increasing number of landlords and investors are buying and creating Homes In Multiple Occupation. Whilst the government has extended permitted development rights used to create more lettable rooms in home extensions, many local authorities are clamping down on what they see as HMOs supplanting family accommodation. Are shared houses still viable for tenants on benefits and is the rise of boutique style lets finally putting to rest the sector’s reputation for poor conditions? Richard Blanco asks planner Alison Broderick, investor Ash Zuberi, letting agent Billy Gill and licensing expert Richard Tacagni for some top tips and whether those higher yields really do outweigh the extra management.
Planning and licensing advice applies to England & Wales except where stated otherwise.
Inside Property is produced in collaboration with the National Landlords Association.