There are lots of issues to manage if you own and operate an HMO. They can provide a really great return on investment, however they can also require a lot of work to manage and need regular attention to ensure voids are minimal and maintenance and operational costs are contained. If you plan to acquire an HMO or already have some then you should be aware of the challenges.
What’s your plan to deal with the Licensing of Houses under Multiple Occupation which comes into force on 1st October?
Stick Twist or Bust?
Stick : If you plan to create or hold an HMO, do you need a copy of the latest Standards so you can manage the improvements needed to ensure compliance?
Twist : If you have decided to convert your HMO, do you have a plan in place to make the conversion?
Bust : If you have decided that is not economic to comply with the licensing requirements do you have a plan to dispose of your property?