HMO Investment in Wigan

What is a HMO?

HMO stands for ‘House in Multiple Occupation’. For a property to be classed as a HMO, it must be rented by at least three people from separate households, and the tenants must share communal facilities like the bathroom or kitchen.

Why invest in a HMO?

For buy-to-let landlords, investing in a HMO property comes with many appealing advantages:

• HMOs tend to be more lucrative than other properties because rental yields can be up to three times higher.
•  Void periods will have less of a financial impact on you, as you’re likely to always have other tenants in the property if one leaves or falls behind on their rent.
• HMOs are in high demand and often attract young professionals who are looking for a place to rent that is not only flexible, but affordable too.

Important considerations for HMO landlords

Before investing in a HMO, it’s important to understand what may be required of you.

HMO licences

Most HMOs require a licence. You will need to obtain a HMO licence if the property in question falls under the following stipulations:

• At least five people from more than one household will live there
•  The property is three or more stories high
•  Tenants will share facilities (like the kitchen and bathroom)

Read HMO licencing advice from Wigan Council.

Planning permission

To convert a property into a HMO, you may be required to obtain planning permission.

Read about planning permission in Wigan.

Wigan’s future

If you’re going to set up a HMO, it’s important to have an idea of what the future may look like for Wigan and surrounding areas. This includes researching infrastructural and environmental plans.

Read about Wigan’s 2030 plan.

Furnishing Packs

To save landlords time, money, and help get their lets off to a great start, we supply a range of great value furniture, soft furnishings, and kitchen packs.

Utilising our bulk buying power, we can help you fully furnish your lets with affordable, high-quality, and legally compliant furnishings and kitchen equipment that will impress your tenants and increase your rental value.

Ask us for a quote TODAY!

Acquisitions

Take the leg and guesswork out of identifying and sourcing rental property with our acquisition services. When you’re looking to invest in single or HMO property we can provide you with unprecedented access to off-market opportunities via our network of landlord vendors.

All you need to do is provide us with your purchasing criteria and we will source a selection of appropriate properties to meet your needs.

Sales

When it comes to disposing of your investment property, with or without tenants in situ, we provide a complete sales and marketing service. Plus, with our database of registered investors looking for rental investment opportunities, we can make the process a swift and seamless transaction.

Tailormade Services to Fit Your Needs

Whether you want to be a hands-on landlord or you want to relax, knowing your HMO is in good hands and producing an income, we can help you create the perfect service to fit your needs.