'No problem' with HMOs for buy-to-let investors
The abundance of Houses in Multiple Occupation (HMOs) in university towns should not serve as a deterrent for buy-to-let investors, it has been claimed.
According to the Association of Residential Lettings Agents (ARLA) the majority of student landlords own smaller, more manageable properties that would be largely unaffected by any changes to HMO licensing laws.
"HMOs are very much for the professional end of the market, it's not for typical buy-to-let investment," spokesman Malcolm Harrison asserted. "A typical buy-to-let investor doesn't want to go through all of the hoops that you have to go through to get an HMO - it's much more for the professional."
He continued: "So [restricting HMO licensing] is not going to have an effect on the middle buy-to-let market at all, because that's not really where they are."
Mr Harrison's comments come just days after Housing and Planning Minister Caroline Flint announced a review into living conditions for people living in HMO accommodation, promising action over any potential shortcomings.
An estimated 2.5 million people currently live in HMO accommodation.
Published 14th April, 2008
© 2008 Estates IT Limited
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The abundance of Houses in Multiple Occupation (HMOs) in university towns should not serve as a deterrent for buy-to-let investors, it has been claimed.