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How much would the difference in rent be by renting as HMO as opposed to a family?
I'm intrigued. Is it worth it? Must be!!0 -
I semi agree, but we are in a world where people expect more and more often due to thinking they deserve better.
Then when its given they then see that at basic and want even more.
Homes are becoming more like hermits caves.
Well the same could be applied to LL yield expectations on that basis....
Which to me is quite clear here.....0 -
I lived in a nurses' home years back, 4 rooms to a floor with one kitchen, one toilet and one bath. It was fine. We all had a sink in our room which was essential. Without the basins in the rooms it wouldn't work but was perfectly fine as it was.0
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i can't afford to fit an extra toilet/bathroom [yet] as i am dividing other funds for another project. i am going into business as a landlord because i can and will commit to this whatever it takes. converting one of the kitchens will be a complete nightmare for now as i am on a tight deadline for this
It doesn't sound like it. If you want to have anything up to 8 adults sleeping in this house on a night (yes, they'll have partners over regularly) the house is going to decay unless things are set off with a touch of class right from the start. A bog only needs a cupboard, 3x4ft.0 -
How much would the difference in rent be by renting as HMO as opposed to a family?
I'm intrigued. Is it worth it? Must be!!
If you have a house with 3 double bedrooms which would rent to a family for £1,200 then you can often convert the lounge into a bedroom and have a 4 bedroom HMO. You could get at least £400 per room, so a minimum of £1,600.
But it is much more hassle as you have to have separate contacts with each tenant and the tenant turnover is likely to be much higher as people often fall out with each other. You also need specialist landlords insurance as most standard policies exclude HMOs unless everyone is on the same tenancy agreement. Also, some of the people who are prepared to live in an HMO are more difficult to deal with.
I would never do it as I don't want to deal with those sorts of people.0 -
We lived in a 4 bed house at university with one bathroom, wasn't a problem, but we were friends, wouldn't do it with strangers
Best solution would appear to be using some of the space of one of the kitchens to add a toilet, needn't be too expensive, but depends on drains and layout...First win (October) - Apple Ipod off a radio competition
November - new nokia mobile phone, £250 electrical voucher (both radio comptitions)
March - 2 cinema tickets to see 27 dresses (radio again!)
:beer: :beer: :beer:0 -
I wish we could see a floor plan of the house. Depending on whether the bathroom is upstairs, and what room is under it, it ought to be comparatively easy to fit a downstairs toilet immediately below, as the soil stack and plumbing should be in a vertical line.
Even if it means reducing the size of one of the kitchens, or possibly a communal living space (if there is one), it would be worth it.
I haven't bogged off yet, and I ain't no babe
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Bogof_Babe wrote: »I wish we could see a floor plan of the house. Depending on whether the bathroom is upstairs, and what room is under it, it ought to be comparatively easy to fit a downstairs toilet immediately below, as the soil stack and plumbing should be in a vertical line.
Even if it means reducing the size of one of the kitchens, or possibly a communal living space (if there is one), it would be worth it.
Point is that's irrelevant.
The OP is intent on maximum income in a minimum timescale.
The tenants be damned.0 -
Oh well, I suppose if people can make money from "beds in sheds", then she will probably manage to find four suckers who will put up with the deprivations for a cheap rent. I haven't bogged off yet, and I ain't no babe
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And have a major clean up job every time they move out.0
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