Here’s a balanced look at an emerging trend in homeownership. Kate Saines of What Mortgage talks to IMS Property Group CEO Michelle Niziol about “houses in multiple occupation”. For those of you unfamiliar with the term, it means:
An HMO is a property in which three or more tenants live in more than one household, where they share a bathroom, kitchen and/or laundry facilities. For the purposes of HMOs, a household is seen as a single person, or members of the same family living in the same property. For example, four unrelated people in four separate rooms would make up four households, while a property with two couples would make up two households, even though they all reside under the same roof.
Thinking of adding an HMO to your property portfolio? We highly encourage you to read the full article.