A HMO differs from a standard property as it has to comply with certain council regulations.These include, minimum room sizes, kitchen space, fire safety strategies and a minimum number of bathrooms and toilets.
Due to the one property having multiple tenants, the runnings costs for a HMO are higher than a standard property.Council taxes, utility charges, wifi and water usage will typically be paid by the landlord.
The landlord however receives separate rents from each individual tenant.
For example, a 5 bedroom HMO in Manchester will charge £550 per room, resulting in a total of £2,750 in rent per month.
It’s no secret that the UK has a shortage of housing - and affordable housing at that.
HMO’s create multipole, affordable living spaces out of one property and are a solution to both the housing shortage and the increased cost of living.
