A HMO (House in Multiple Occupancy) is a type of property that is rented to at least 3 tenants who form more than one household. HMOs will typically have shared facilities such as toilets, bathrooms, or kitchens.
In the UK large HMOs (rented to at least 5 separate tenants) require a license in order to operate. HMOs can offer landlords multiple rental incomes from a single property as each room can be rented out separately. Some common examples of HMO properties include; shared houses and student halls of residence.
HMOs are often an extremely lucrative investment for landlords. The primary benefit of investing in HMOs is that they can provide much higher returns than many single-let properties. This is due to the fact that investors in HMOs receive income from multiple tenants living in the property rather than the single rental income from a single-let property.
Another benefit of investing HMOs is that the impact of rental void periods is often far less. This is, again, due to HMOs providing more than one rental income. So, when a tenant moves out of the property, the property is still providing a cash-flow from the remaining tenants while a new tenant for the empty unit is acquired.
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