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I'm not saying students are perfect tenants by any means!
I (touch wood) have never had a serious problem with them.
However, my twin brother let one of his properties to 3 students.
There was a problem with a built in oven which was still under guarantee, but the manufacturer took several weeks to fix it.
One of the group who was a law student, teamed up with her professor to launch legal action against my brother.
He stood his ground and their case went nowhere.
In the end he compensated the other 2 students, but not the litigious one!
I live in a borough that has a university.
Every bit of empty land and empty office block is being turned into student accommodation.
A pod room costs between £1100-1300 PCM.
A room in a shared house around £500-£600.
If I was a student I know which I'd prefer!
Also I'm sure they are creating a gross over supply situation
AS I have said I have no issue with students or any other group
For me personally I don't get involved with HMO,s
Its just down to choice of what you want to buy
I love ex Local auth houses others don't like them
Learn Change and Adapt ?????
What we need is a real life expose on what the true ramifications of S24 and ICTB could be on an existing profitable HMO.
I suspect just these two issues push that HMO into near and probable unviability.
There is also the niggling question of when an HMO LL wishes to cash out will there be any purchasers out there to take the property of his hsnds.!!
With all the issues of S24 and ICTB plus the inevitable decline in immigration there will be possibly less demand for HMO style property
Family houses or just any houses will be in ever increasing demand!
All things considered the HMO business model is starting to tarnish!!
it wouldnt be that hard to convert a hmo back to a house when it came to the time to sell
Really that is interesting.
From an admittedly completely ignorant perspective I thought that HMO require unsightly and institutional type improvements to comply with HMO regs?
You are suggesting that this is not a difficulty or real issue to resolve returning a property to its previous single occupancy domestic status.
Are there any features in an HMO which are ugly and would need to be removed in the event of single occupancy.?
I cant see many domestic homeowners objecting to a Fire Alarm system
EVERY home should have one ideally!!
Nor extra en-suite bathrooms etc
Nor I suppose extra fire protection for stairs and rooms!
Could a large family be sold a former HMO as a family home with no adjustments!!??
Would a domestic homeowner tolerate lots of Fire Exit signs lit up at night!?
I suppose that if no price reduction would occur between a normal 5 bed house and a 5 bed HMO house then one could risk HMO status until they introduced ICTB and then just return to single use.
A Landlord could convert it back But at what cost
The HMO,s I have visited have had a lot of cash spent on them so if you changed it back to a house it would cost again
IT was my plan until S24 to by HMO,s to buy distressed sales of HMO,s and turn them back into Houses Again
I have seen students leave areas and the Landlords have then rented to DHSS and then they find it un manageable and then sell
at a lower price
The old saying when one door closes another opens
Your response confirms to me what I had thought.
Is there a minimum Level of HMO adaption which would ensure it could be easily returned to single use without any major cost and wouldn't impact upon its saleability.
thats the local authority plan...students into build to rent halls etc...students hmo sold to developers who convert old housing stock back into family homes, changed the dynamic of the old area
A conversion to/from an HMO need not be expensive if you choose the right house in the first place.
I think the council will go down the route for an HMO of it's current 'council tax band' + extra fee ; on top of the licensing cost.
Either way (just like s24) worst case scenario : council tax band per room - will simply incur even greater rent increases.
Whilst the government is indeed short sighted the impact of such an action would have instant massive implications.
I think some cities (I'm in Bristol) want and need HMO's. Plenty of professionals who only want/afford a room in a shared house rather than flat/house rental costs.
It's all a gamble!. What will the dumb government do next! - what ever it is you have to adapt!