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  • HMO & Multi-Lets

    HMO demand

    Looking to buy a HMO and was wondering how others check for demand in the area? I've done a dummy ad on spare room which I got around 6/7 messages for viewing in around 2 weeks, just wondering what others do to check for demand?

    Ps my first post so please be gentleSmile
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    Hi Will,

    Welcome to Property Tribes. Smile

    The landlord associations and local councils often hold "landlord forums" and meetings where you can network with other local landlords and get insights into the local market place.

    Areas of high room demand tend to be:

    1. University towns or towns with a highly mobile population, such as factories, transport hubs, or big employers in the area who employ contract staff.

    2. Towns where rents are very high, and a room in a shared house is an attractive option.

    3. Towns that have large inward migration - often due to regeneration - where contract workers need an affordable housing solution and the rental stock is not catching up with the incoming population.

    You can see on sites like Gumtree how many rooms are available to rent in any particular town and how quickly they rent.

    You can contact other landlords offering rooms for rent, via their adverts, and ask them how quickly their rooms let. Most landlords are happy to share these kind of details.

    You could also tailor your post on PT to name a specific town and some members may be able to advise if they know of the demand.

    Hope that helps?
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    Thanks for replying, I'm based in Ipswich and the area I'm investing in has a hospital and also we have on the outskirts a BT research centre who have workers from all over the world on short term contracts.


    iI know it's a good area to invest but from the dummy ad I think I was expecting more but will try other adverts to see the response.


    Any other tips would be appreciated, as this is a new area for me as my other properties are single lets.


    Thanks again



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    Spareroom is the standard for doing research into HMO demand.  We track the number of rooms available vs the number wanted consistently across the areas we either operate in or are interested in to see how demand is increasing/decreasing.  6/7 responses in 2 weeks is pretty low in my opinion, but that could be down to the quality of the ad vs the actual demand.

    Even in areas of low demand, top end rooms will rent for a premium, and similarly in areas of high demand, crap rooms can sit empty for months.  Hospitals are a good draw for potential tenants, but if everyone else has had the same idea, you could still find there aren't enough tenants to meet the increase in HMO landlords.

    Have you spoken to the hospital to see if they have a department that helps incoming doctors/nurses/trainees find accommodation?  Have you been along to any local networking meetings? The last one I attended was very doom and gloom about the shortage of tenants over the past month, but whether it's good or bad news, at least you have more information to help your decision.

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    Mike Stenhouse Host of The Inside Property Investing Podcast

    terrible demand mate, wudnt bother

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