Liverpool is a blooming area and HMOs (houses of multiple occupancy) are a popular choice for property investors. Here’s a look at why HMOs in Liverpool are a good place to invest.
With some of the best universities in the UK, Liverpool has fast become one of the best loved cities for university students. This beautiful city has so much to offer, bursting with culture and unforgettable student-friendly and affordable nightlife. Student life has become so much more than what is taught in a classroom. A history lesson at its museums, an art lesson at the numerous art galleries, or a biology class walking the beautiful trails in Liverpool.
Now Rooms Liverpool has a Facebook page and encourages student tenants to get involved in activities to help them meet people and get social. University, for many young people, means leaving the security and comfort of a family home. Experiencing their first taste of adult life, many students opt for HMOs as their first home away from home. This gives them a sense of community and allows them to not feel alone.
Liverpool has always been attractive to students because of its first-class universities. Over recent years we have seen a soaring number of young people from the UK and overseas choosing to study in cities such as Liverpool. Due to the high demand, universities are struggling to build accommodation, many only offering first year students the option to stay in halls of residence. The constant housing demand from students has seen HMO living thrive and investors have been reaping the financial rewards.
The rental yields of HMOs are known to be much higher than a single occupancy let. A management team such as Now Rooms is here to help manage your HMO if you have any concerns about letting to multiple people. Most degree students’ study for 3 years, but this can be longer depending on type of degree or professional qualification. This means that you could potentially have a guaranteed tenant for a minimum term of two years (if they have taken the first-year hall of residence). Providing and maintaining high quality HMO living will not only ensure tenant loyalty but can result in recommendations, helping to maintain a continuous cash flow.
All investors hope for strong capital growth as well as a good rental return and with the city of Liverpool continuing to grow economically, property values are expected to increase. By investing wisely and maintaining your HMO property, returns will be favorable. At Now Rooms Liverpool, we will help you find your dream investment properties – give us a call to see how we can help.