Benefits of converting a house into an HMO
Converting a house into a ‘House in Multiple Occupancy’ can offer many benefits for the savvy investor. If you are considering options to maximise the return on your property investment or are looking for ways to secure your future family home, this could be the right option for you.
If you are already a landlord, converting a house into an HMO property can be an affordable way to increase rental yield. Alternatively, HMO can be an attractive option for investing in a home for the future. Find an investment property in an area that is currently outside of your price range and convert it into an HMO.
Then after several years renting it out to tenants, it can be reclaimed and converted back into a house for individual or family residency. It is advisable to research the layout and standards requirements of the relevant local authorities before undertaking this type of development. This will give you a better idea of the work that will need to be done to meet licensing requirements. It will also help to give you realistic cost expectations for your project.