- Hits: 96
Thinking of investing in a multiple-occupancy property? Before you move ahead, here’s what you need to know about the difference between single lets and HMOs.
Multiple occupancy vs single lets – what’s the difference?
Letting a property to multiple occupants is an attractive option for many landlords, as it can generate a much higher return and far more monthly rental profit than a single let.
However, it’s not for everyone, as the rules and regulations for Houses in Multiple Occupation (HMOs) are more complex than for single let properties and the management demands are much greater.
Here, we take a look at the main differences between letting a property on a multi-occupancy basis and letting to just one household, highlighting the key things you need to know in order to decide which is the right type of let for you as a landlord.