HMO renovation

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    HMO renovation

    Hi

    Does anyone have any ideas for an optimal renovation of this HMO? Kitchen location, ideal layout etc...

    #2
    Wow, nice big rooms! You could easily go all ensuite with bedrooms that size.

    I assume you're looking maximum six-bed (i.e. C4 status)?

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    • Considering HMO licence
      LT72
      Hi I’m considering applying for a HMO license for a 5 bedroom house. But my fix rate mortgage is 6 months. So will need to find a new leader. So wondering if I should apply for it now, inform my current lender or wait till it end and get a HMO mortgage with the new leader. Is there a difference between...
      23-06-2019, 10:15 AM
    • Reply to Considering HMO licence
      JK0
      Why not let to 4 professionals, and leave one room vacant, so you aren't triggering licensing?
      23-06-2019, 21:11 PM
    • Reply to Considering HMO licence
      LT72
      Thanks DPT57 thanks for the detailed reply. Yes I’ve done the cost analysis and do admit it’s more cost to run a HMO. Its relatively big house
      and finding a family to rent it in order to achieve maximum rent is hard vs renting to 5 professionals. I’m guessing the best approach is apply a...
      23-06-2019, 21:08 PM
    • Short-term let (Air BnB, Booking.com) occupancy rates
      Bricey
      Hi all,

      This is my first time posting so please forgive me if I have used the incorrect forum.

      I am beginning to pull together an opportunity in the Bournemouth area to sublet an apartment on a HMO basis (shared bathroom and kitchen facilities) using outlets such as AirBnB,...
      18-06-2019, 21:03 PM
    • Reply to Short-term let (Air BnB, Booking.com) occupancy rates
      JamesHopeful
      I've stayed at an AirBnB similar to what is described. It was essentially just like staying at a small hotel, albeit without there being any staff permanently on site. It felt quite normal. But as above, I entirely agree that it'd either be C1 or sui generis use class....
      23-06-2019, 15:40 PM
    • Reply to Considering HMO licence
      DPT57
      This goes a bit beyond what youve asked, but can I suggest you do a full financial projection for this venture to make sure the sums really do stack up over a family let. As well as the licence fee you should factor in the cost of adaptations, increased mortgage and insurance costs, increased voids,...
      23-06-2019, 14:16 PM
    • Reply to Short-term let (Air BnB, Booking.com) occupancy rates
      jpkeates
      It can't be an HMO, because no one will have it as their main residence.
      It's essentially going to be a hotel or hostel - so it will require planning permission for a change of use, because it's going to be a commercial property not residential (and I think you'd be lucky to get it if the area...
      23-06-2019, 13:49 PM
    • Considering a HMO as an investment
      Draigflag
      Hey everyone, I've just joined, this is my first post. I'm Paul, I'm 31 and I live in Mid Wales. Under tragic circumstances I will be inheriting some capital sooner than I had imagined. I'm becoming keen on the idea of a HMO as an investment, but being pretty young and new to this field, I am looking...
      05-06-2019, 17:57 PM
    • Reply to Considering a HMO as an investment
      DPT57
      You will have to fully furnish them for this market and will need people to do the laundry, cleaning and change over between guests. Holidays lets is a very different market and would need speciallist insurance, probably non-standard btl mortgage if applicable and I think some Councils have a restriction...
      21-06-2019, 12:08 PM
    • Reply to Considering a HMO as an investment
      Draigflag
      Yes actually, as an alternative, I have considered buying a few smaller properties locally (houses are very cheap here) and having a letting agent fill them up for the summer for me. My parents ran a guest house for 20 years so I do actually have a bit of experience in this field. I live in a tourist...
      20-06-2019, 18:00 PM
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