Students are the largest HMO market in Edinburgh.
Edinburgh’s growing student population and significant lack of multi-occupancy property brings to light a highly attractive investment prospect for landlords.
Edinburgh’s student population is already well in excess of 40,000, and with this number still on the rise, students are the largest HMO market in Edinburgh.
Could this be your next golden investment opportunity?
A HMO – or ‘House of Multiple Occupants’ – is a property rented by at least three people from separate households who share facilities (e.g. bathrooms and kitchens).
There are numerous benefits to reap when investing in HMO property, such as:
High rental yields
As a rule, HMOs are continuously outperforming other types of buy-to-let properties. Profit and increased income from HMOs makes for a higher return on your investment.
Less impactful void periods
With multiple occupants renting rooms at any given time, void periods are less of a threat to your cash flow and rental income. What’s more, your student tenants will all have guarantors as a rent safety net for extra peace of mind.
Consistently high demand
The increasing student population in Edinburgh means you will always have a vast pool of potential tenants to choose from.
Portfolio diversity
If you’re a property investor looking to diversify your portfolio, investing in an HMO property is another string to your bow.
Although there are many advantages to investing in HMO property, to be successful there are certain aspects to consider so you know exactly what you’re getting into before making a commitment:
Property maintenance & management
You should consider exactly what investing in an HMO property involves. Students aren’t exactly known for their maintenance experience, plus wear and tear is accelerated in a HMO property.
It’s also important to factor in the increased time and resources necessary for managing a HMO property, as opposed to a standard single let.
Appropriate tenants
Though there are loads of students in Edinburgh, finding people who will respect your property is an entirely different kettle of fish.
Our popular tenant finder service gives you the ultimate peace of mind when it comes to finding suitable tenants to live in your property.
HMO licences
It is mandatory that you get a licence before becoming an HMO landlord. Property inspections for HMO applicants are carried out by the council. Find out more about HMO licence applications in Edinburgh.
Here at Northwood, we offer property management services to suit your lifestyle. Our Fully Managed service gives you the assurance you need that your property is in good hands, while reducing disruption to your lifestyle.
We also have a variety of other letting services for landlords, all specifically designed to make your life easier.
We can help you:
What’s more, our experienced and reliable letting agents know the Edinburgh rental market like the backs of their hands and will always go the extra mile to offer you guidance and support.
For hassle-free HMO property management, contact us today.
