hmo finance job description
HMO landlords will often pay utility bills if the property isn't converted to flats and has separate title deeds.
Lenders might take into consideration the potential rental income when assessing your HMO's worth. This is especially important if the property has been converted and you want to withdraw some equity.
HMO licences can have additional conditions depending on the council. HMO licences may only be requested by local authorities. Without a license, the penalty for renting a licensable HMO is up to PS20,000.
HMO landlords will often pay utility bills if the property isn't converted to flats and has separate title deeds.
HMOs are more risky than regular BTLs. HMO tenants tend to move more quickly because they are not related, which increases the chance of voids and unpaid rents. They may be less committed to the property, which can lead them to take less responsibility for its upkeep and care. It can be harder to spot any damage or problems with a tenant.
HMOs may be restricted to a specific area. HMOs target specific tenants, such students or single professionals. HMOs are typically located in urban centers or other areas that have easy access to public transport and other amenities. It would be unwise to locate an HMO somewhere in the middle if it was in a rural setting.
Students: Can have their rent paid by their parents. Usually, they have a set length of tenancy.
What are the expected returns from an HMO