Investing in an HMO (House of Multiple Occupation)
Looking to invest in property? Have you considered an HMO?
Edinburgh has a large and growing student and professional community of well over 56,000, this feeds a very strong and vibrant HMO market in the city and ensures there is big demand for HMO property.
Braemore are specialists in all aspects of HMO investment, from seeking suitable property to refurbishing, converting and preparing property to meet HMO regulations ready for new applications or renewals. We deal with all the complicated administration, the marketing, letting and tenancy management.
We are experts in our field and our knowledge, experience and success delivers an excellent all-round service for our many satisfied landlords.
In the last year we have worked on a number of initiatives including a large-scale upgrade project required for Fire Regulations. This was a requirement across all HMO’s in Edinburgh, our preparation, organisation and hard work ensured that our landlords were well prepared for the deadlines and all requirements met.
We are always looking to maximise potential and recently advised a landlord that his 2 bed flat, with investment, would be suitable for conversion to a 3 bed HMO and this would come with a significant increase in rental income.
Quotes were sought and agreement received, the schedule of works required us to convert the property from a standard 2 bedroom to a 3 bedroom HMO. This was completed in good time for the HMO market at the end of summer. The property was let quickly and achieved a 45% increase in rental income. A very happy landlord.
With HMOs we’d always recommend full management as it’s a complicated process and there is much “red tape” but with the right advice and support it is an excellent long term investment with great yields.
Please call us today to find out more.