For out of hours assistance regarding our managed Houses in Multiple Occupation please call: 07810 813674
House of Multiple Occupancy
A House of Multiple Occupancy property (HMO) is one of the best performing let properties, both due to their high rental yields and huge demand.
The multiple occupancy/student market in Edinburgh continues to grow, with minimal void time, making operating an HMO flat a very attractive investment.
Braemore are HMO specialists, providing a dedicated department providing you with knowledgeable and professional guidance on purchasing, investing, converting and licensing a property to ensure your asset reaches the maximum potential.
The student market is responsible for the vast majority of occupants in the HMO market in Edinburgh as the student population is over 59,000 and is catered for by approximately 7,000 properties. That population is growing and so is demand.
Investing in an HMO
We specialise in upgrading and converting properties to meet HMO standards. With our vast experience there are 6 key principles to consider when looking to invest in HMO:
- Location is key – target student areas where demand is high
- Improvement – maintain/improve property or seek a conversion opportunity
- Yield – maximise return on investment
- Source the right Tenants – key to successful property
- Ensure Application deadlines are met
- Property Management – instruct a professional company like Braemore to ensure all the above criteria are met.
See our recent case study: Investing in an HMO (House of Multiple Occupation)
HMO Application Process
A licence must be applied for via the Local Authority licensing department. In Edinburgh, a new or transferred license is valid for 1 year; whereas renewals are 3 year licences.
Licence costs depend on the Local Authority and the size of the property. In Edinburgh the cost ranges from £540 for a 3 bed to £900 for 5 a bed.
Obtaining a licence can be complicated, this is where it really helps to have an agent like Braemore organise these matters for you.
Contact us now to find out more about investing in HMO property in Edinburgh: 0131 624 6666