As we move forward through the year, it is time for those finishing school to consider entering university. This means that thousands of students, both from the UK and overseas, will be spreading across the country to head off to the university of their choice. This, of course, will doubtlessly lead to a surge in properties being let to students, who will need a place to stay while they are studying. For investors who are searching for an investment property, investing in a HMO in a university city can represent a smart investment.
The popularity of British education continues to increase, particularly amongst foreign students attracted by our way of life. As such HMOs (houses of multiple occupancy) are becoming increasingly popular amongst property developers as a means of hosting several tenants at once. Many property owners are also converting their current properties into HMOs, allowing them to comfortably host a number of students. With over £6 billion invested in student property over the past three years, it is clear that student property is a hot topic in the property market and something that needs to be approached carefully.
Young professionals are also beginning to flock to HMOs due to rising rent costs. The all inclusive rental agreements are attractive to young professionals, ensuring that the property of their choice remains affordable.
If you have investment properties in Hackney or other popular areas of London, converting them into HMOs can unlock their hidden potential. We can ensure that the property is turned into a HMO that fulfils all requirements for your tenants. Your income will be a NET agreed figure, and we will manage the property for you throughout the term that we agree to.