In the North West, a wave of HMO (House in Multiple Occupation) property conversions is reshaping the real estate landscape, particularly in centres like Manchester, Liverpool, and Bolton. These conversions entail repurposing existing properties into shared living spaces, accommodating multiple tenants who rent individual rooms while sharing communal facilities. The trend is driven by factors such as rising housing demand, affordability constraints, and changing lifestyles among renters. HMO conversions offer an alternative housing solution, catering to young professionals, students, and individuals seeking affordable accommodation in city centres. While some applaud the increased housing density and efficient use of space, others voice concerns about potential impacts on neighbourhood character, infrastructure strain, and housing affordability. As this trend continues to gain momentum, it prompts discussions around housing policy, regulation, and urban planning to ensure that HMO conversions contribute positively to the overall liveability and sustainability of communities in the North West.
Explanation of an HMO Property by the Government
We cater to landlords, letting agencies, and private clients in Manchester and its surrounding areas by providing services related to properties designated as Houses in Multiple Occupation (HMOs). These properties are rented out to a minimum of three individuals who are not part of the same household, thereby sharing amenities such as bathrooms and kitchens.
Based in Salford, we extend our services across the majority of the North West, with active projects in locations such as Burnley, Bolton, Wigan, and Walkden.
Boosting the Rental Worth of Your Property
Converting a property into an HMO necessitates obtaining a license from the local council, which typically remains valid for a period of five years. If you're contemplating such a conversion, there are several essential steps you must undertake, ranging from meeting legal obligations to ensuring the property is suitable for accommodating multiple tenants.
Get in touch with us now to discover excellent opportunities in areas with significant demand, like those near universities or hospitals. Let’s unlock your investment potential together!