Article 4 HMO Price Appreciation and Rental Appreciation
We have been killing ourselves rushing to get 2 social HMOs signed off before the Sept 20th Deadline for Article 4 HMO Restrictions. Having a licensed existing Social HMO in an article 4 area is a printing press in the future. Firstly will be difficult for others to get approval for a HMO in the area once article 4 goes in…plus rents will go up. Both of these 2 Social HMOs will be generating on a long PLC contract at a rate of 11,300 per year NET. No voids…No council tax…no management and even maintenance is covered up to 5,000 per year.
We are in the process of doing another Professional HMO in Doncaster also will be in an article 4 area. Now is the time to either find or buy a Professional HMO or Social HMO before Article 4 comes in.