HMOs see their value climb as demand for better amenities surges
General / Sat 13th Aug 2022 at 09:39am
HMOs, or Houses in Multiple Occupation, are properties consisting of at least three people who are not from one household (ie a family) and share facilities, such as a central living space or kitchen.
HMO landlords identify a flight to quality as a trend characterising the past year, with 48% saying they’d seen growing demand for high-end HMOs and 45% saying demand from young professionals was up over the past year. Just under a quarter, 23%, of landlords also said HMOs were appealing to older, affluent tenants.
For the full article, click below.
HMOs are a nightmare for the neighbours. 6 to 8 cars parked outside.
No surprise there. A good chunk of graduates *do* earn a decent wage (40k+) as a starting salary and can afford to live alone but prefer to live in a houseshare in order to save for a deposit more quickly. This demographic can afford to be a bit more picky when it comes to en-suites etc. Superfast broadband is also a consideration given hybrid working.
@David - I agree - I'd imagine bins etc. are also a bit of a nightmare.
Where we live the HMO's are a complete pain, late night noise and what appears to be drug drops at all hours. If only all HMO's had to be high end and well maintained with the tenants checked
HMO properties should not allow landlords to make the inflated amount from their tenants. There should be a cap on the amount that is paid to stop these properties sprawling across the town. Some are 'high end' (own toilet, what a luxury) but tenants certainly pay for it. Most are not and just cause no end of problems to the neighbourhood as the tenants and landlords couldn't care less as none are invested in staying for long. Get rid of HMO's and invest in council housing or family homes.
Most HMO’s are full of lowlife people, druggies, etc. They are a cancer upon neighbourhoods. As usual the Council’s allow these dumps to thrive.
6 Comments for HMOs see their value climb as demand for better amenities surges: