Help needed please

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    Help needed please

    Hi all,

    I need advice on how to extract the most rent from a two storey, three bedroom terraced house which does NOT have HMO status (nor is likely to get it under the current area policy). The house is situated in Stranmillis, now a predominantly student area of Belfast. Currently, individual rooms go for about £200 p/m, but I've seen two bedroom houses in the area rented out as a whole for over £500.
    As I understand things, I can legally rent to two unrelated people, or a family? I cannot however, see this area as being attractive to any family.
    Bloody planners closed the stable door after the horse had bolted - 61%(?) HMO now in this area.

    #2
    I guess two flats would pay more than one house. However given the costs of conversion, it doesn't seem worth doing. Maybe just leave it as a house. I think anywhere will let if the rent is low enough.

    Sorry that's not much help to you.
    To save them chiming in, JPKeates, Theartfullodger, Boletus, Mindthegap, Macromia, Holy Cow & Ted.E.Bear think the opposite of me on almost every subject.

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      #3
      Hi JKO, thanks for your thoughts. I had considered this, but you're right, it's just not worth it. Other properties beside it have been extended and have 6 (small) bedrooms. Obviously though, they have this HMO status already.
      What annoys me is that the original community, who have suffered years of general social decline at the hands of these students, are now prisoners in their own homes. They cannot sell their houses for a fair price, as no families would want to move there and no investors are interested without HMO status.
      Of course we can get some rent, but with little or no profit in it :-(

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        #4
        Originally posted by D-FENS View Post
        As I understand things, I can legally rent to two unrelated people, or a family?
        Your local council may have selective licensing on any or all rental properties in this area. Please be aware that much of what you read on the web will be in relation to England/Wales law (this site is) so you really need specialist advice in relation to NI. I would have thought your 1st port of call would be the local council.

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          #5
          The link below gives advice for Northern Ireland.

          http://renting.housingadviceni.org/

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            #6
            Originally posted by Snorkerz View Post
            Your local council may have selective licensing on any or all rental properties in this area. Please be aware that much of what you read on the web will be in relation to England/Wales law (this site is) so you really need specialist advice in relation to NI. I would have thought your 1st port of call would be the local council.
            Thanks Snorkerz.

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              #7
              Thanks Mrs Mug.

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