HMO Properties In St Andrews

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 St Andrews continues to grow, with minimal void time, making operating a HMO flat a very attractive investment.

Braemore are HMO specialists, with 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 St Andrews as the student population is approximately 10,000 and is catered for by approximately 7,000 properties. That population is growing and so is demand.

HMO Edinburgh

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:

  1. Location is key – target student areas where demand is high
  2. Improvement – maintain/improve property or seek a conversion opportunity
  3. Yield – maximise return on investment
  4. Source the right tenants – key to successful property
  5. Ensure Application deadlines are met
  6. Property Management – instruct a professional company like Braemore to ensure all the above criteria are met.

HMO Application Process

A licence must be applied for via the Local Authority licensing department.

Licence costs depend on the Local Authority and the size of the property. In St Andrews the cost ranges from £1,480 for a 3-5 bed, to £1,730+ for 6+ beds.

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 St Andrews: 01334 800630