HMO Profits in UK Real Estate
We just finished this project and made a final walk through video. We had an inspection and we passed. We are letting this to the Home offices North West’s supplier for a niche of Social Housing. The HMO is placed on a 5 year lease with no voids…no management…maintenance covered up to 5,000 per annum. We have this HMO 3 bed property rented for 8580 per year NET. Once we gave the keys the rent started. No looking for tenants…no taking care of backed up toilets….no late night emergencies. True armchair. The hard work was finding and getting the property approved.
You will notice we built a bedroom out of one of the reception rooms. Doing so gives added income. We have tried HMOs but the returns are deceiving and the headaches were real. There are alot of expenses running a HMO…One of the biggest are the voids…If you have any questions, here to help…
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