Modern design to maximise your investment
What is HMO?
Houses in Multiple Occupation (also known as HMOs) are classified as properties which have at least 3 tenants living together but they do not form part of the same household i.e. they are not living together like a family or group of friends would, they are unrelated and only share 'common areas' like the kitchen, stairwell, and bathroom.
In recent years demand for affordable high quality flexible living has increased amongst the young professionals segment. This is largely as a result of the ongoing rise in house prices. Young people find that they can save considerably when sharing with other like-minded individuals rather than renting a flat or house on their own.
Are HMOs a good investment?
HMOs work for many tenant profiles especially young professionals. They have also become popular with landlords and this is because commercially, when done right, they can be very lucrative. It is common for landlords to expect nearly double the yield from an HMO property than they would from a standard let. So it seems like a win-win for both parties.
How we can help
Getting you started
If you are considering converting a property into an HMO, there are a number of steps that need to be taken prior; many of which are to ensure you meet certain standards and your legal obligations. There are extra legal responsibilities if the property you rent is a house in multiple occupation.
Services we provide
Advice and Support
We give expert advice, support, and information on the current HMO regulations and property standards. We also provide step-by-step guidance throughout the whole development process, using our experience to ensure you get the best possible outcome.
Property Assessment
Our experts will provide a detailed assessment of your property making recommendations on any necessary work that is required so to ensure your property is compliant with all HMO regulations. An estimation on any work that needs doing will be provided.
Paperwork Submission
We can prepare and complete all the complicated legal forms and planning applications that are required for HMO development. We will ensure that you have all the necessary certifications and licences needed so that your property is fully compliant and registered with the governing body.
Project Management
We can fully project manage the development process giving a detail specification of the work being carried out by our in-house trade professionals. Estimated timescales for completion will be provided along with regular reports to ensure you are up-to-date.
Get in touch
If you feel like HMO development would be right for you, or would like to speak someone about it in more detail please contact our office sales team.
Contact us:
T: 0121 517 0647
E: info@farrisknight.com
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Farris Knight Ltd is incorporated and registered in England and Wales.
Company number: 10329449.
General Enquiries
E: info@farrisknight.com
T: 0121 517 0647
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