Why Manchester?HMO investment property in Manchester
Manchester is home of 3 million people with a severe housing shortage. Prices are just now recovering from 2008 crash levels. There is a recession proof need for housing for social housing. The UK Government and local governments are willing to assist in renovation costs and enter into long term agreements of guaranteed rent, no voids, no management, and no maintaince of 3-5 years.
Prices in Manchester stand the chance of major appreciation in the near term due to the new High Speed train to London. HS2 will reduce the average journey time from central Manchester to central London from 2 hours 8 minutes to 1 hour 8. This new train will make Manchester a bedroom commuter community. It is quite logical prices can dramatically increase over time in Manchester.
HMO Investment Property
The concept of a HMO increases your profitability on your real estate investment. You generate greater income because you rent by the room. On average we sell some of our properties at 8%+Net.
- Fully renovated and furnished
- Fully managed by UK Government appointed agency
- Perfect for an armchair investor with no management.
- Contract for five years with no voids.
- Net yields 8% – 9%.
- Maintenance allowance of £5000 per year, maximum of £2000 per job.
- Boiler cover.
- Annual gas and electricity certificates.
- Properties are inspected and supervised
- Property returned to you in the same condition (accepting some normal wear and tear as you would see in any property).
- Long term appreciation potential
- Cash purchase initially, with potential to refinance using a mortgage