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HMO Landlords

What are HMO’s

A House in Multiple Occupation (HMO) is defined as a property where at least three different people from three separate households reside.

Tenants in HMO properties will have a tenancy agreement that grants exclusive occupation of a room in a property with agreement to share communal areas, kitchens and bathrooms. 

There are two types of HMO:

Small HMO’s are properties where up to 4 occupants reside, pay rent, and share amenities.

Large HMO’s are properties where 5 or more occupants reside, pay rent, and share amenities.

The property location and the regulations of the local authority the property falls within will determine whether a small HMO requires a license. However, all larger HMO’s require a license in England and Wales.

We’ll Let Your House can advise on the HMO application process. 

Due to the often-shorter term nature of the let, combined with the additional legislation that must be complied with; the management of a successful HMO property is far more intense than that of a single let property.

However, when the strategy is employed and managed correctly, it can be a lucrative strategy, with returns being much higher than that of a single let. 

We’ll Let Your House manage a large portfolio of HMO properties around Lincolnshire, which all boast strong financial returns and good reputations with local authorities and the community.

These positive outcomes are largely attributed to the diligent management of our team who possess a thorough understanding of how to make a HMO a long term success.