Inflation on Building Materials Professional HMOs Manchester
If you are like us refurbishing Professional HMOs you are noting an increased in all building materials not produced in the UK. Bingo…10% added costs…plus the unexpected surprises when refurbishing. Include this now with the raise in the minimum wage, we are hoping to pass along these added costs on with raised rents. On our current Professional HMOs in Salford we will try to get 125 a room versus 120 for an ensuite. It is always a balance between time to tenant a property and rents achieved. I think we will be in for some interesting times…yet with all that said….I strongly believe in the potential profits of Professional HMOs and Social Housing HMOs versus the stock market or virtually any other investments.
What do you think?
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