HMO Sales on the up!
Month on month HMO sales are increasing in 2021 with an upturn in sales via local estate agents, auction houses, and specialist HMO brokers such as The Property Advantage.
Seen by many as an enticing way into property investment due to the higher yields available and quality of properties available, HMOs have increased in popularity over recent years and the market is booming in a post-Covid property market where investors are seeking more sustainable income streams.
The Property Advantage's Director, Richard Nicholls explains, "We've been specialising in HMO sales for several years now and we're seeing an increase month on month in sales to UK and overseas investors which seems to be picking up pace as we move towards the end of Covid restrictions and into a more settled tenant demand market."
HMOs are often sold at a price calculated around the income the property produces, and this can often mean that investors pay a premium above 'bricks and mortar' so it's imperative that extensive due diligence goes into the research, viewing and offering stages, in addition to having a knowledgeable conveyancing practice who understands HMOs.
The Property Advantage has recently produced a 'valuation guide' which explains the processes they go through as specialist HMO valuers when advising landlords on a sale price and marketing plan.
You can contact Richard Nicholls in Shrewsbury for a copy of your guide!