Furnishing any property is important but furnishing your HMO is doubly important. Here are some of our top tips for furnishing your new HMO.
Let’s start from the beginning – what is a HMO?
A HMO (House of Multiple Occupation) is defined as a rental property housing 3 or more tenants of different households. Typically in Liverpool, this will comprise of students or young professionals who want to live away from home but perhaps want to try shared accommodation before taking the plunge of renting or buying of their own.
Why invest in a HMO in Liverpool?
The HMO (House in Multiple Occupation) market in Liverpool is characterized by a strong demand for rental properties among students and young professionals. Liverpool is home to several universities and colleges, attracting a large student population each year. This influx of students has contributed to the growth of the HMO market in the city.
HMOs are popular among students due to their affordability and the opportunity to live with fellow students, fostering a sense of community. Landlords have recognized this demand and have invested in converting properties into HMOs to cater to the student population.
Liverpool City Council has implemented regulations and licensing requirements for HMO properties to ensure safety and quality standards are met. Landlords are required to obtain an HMO license and comply with regulations regarding property size, fire safety, and general living conditions. These measures aim to protect tenants and maintain a high standard of accommodation.
The HMO market in Liverpool is competitive, with a range of properties available to suit different budgets and preferences. Areas such as Kensington, Smithdown Road, and Wavertree are popular among students, as they are in close proximity to universities and offer a vibrant student community.
In recent years, there has been an increasing interest in HMO investment in Liverpool, not only from local landlords but also from investors outside the city. The city's reputation as a thriving student hub and its ongoing regeneration efforts have contributed to the attractiveness of the HMO market for investors.
Overall, the HMO market in Liverpool is dynamic and diverse, driven by the demand from students and young professionals. The city's thriving educational institutions and ongoing urban development make it an appealing destination for both tenants and investors in the HMO sector.
Furnishing any property is important but furnishing your HMO is doubly important. Here are some of our top tips for furnishing your new HMO.
Liverpool is a very attractive destination to invest in property in for many reasons. This article will outline some of them!
Want to learn more about HMOs? This will cover your basics and why they're a great investment.
