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New Designs of Houses Exteriors in Leeds

HMO Leeds - services for Landlords

If you're looking to find out more about investing in HMO's in Leeds, we are perfectly placed to help you. We're leading the way in specialist HMO letting and management in Leeds.  

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Why HMO's are more popular than ever


Here in Leeds, we have a high concentration of HMO properties. Many people believe HMOs are the domain of students only. On the contrary, HMOs are becoming more and more popular with young working people due to the lower cost of accommodation, as well as having the appeal of bills inclusive rent. They are also a fantastic way of meeting new people too. Being offered furnished and bills inclusive, HMOs make for hassle-free and mobile living for young tenants. We often find HMOs are a perfect choice for young people starting out in their career, especially if they are moving to Leeds and don’t already know many people in the area. Many of our tenants make good long-term friends in their shared homes.

Why HMO's are also attractive to investors 


 HMOs, are attractive to investors too due to the fact they can offer much higher yields than single-let properties. Rooms are often let to individuals rather than the whole property being let as one unit, in order to maximise yields. People interested in HMO Investment generally don’t attempt to manage their own properties due to the time required and the complexity of the process. They realise their time is better spent on more important things and usually outsource management to an agent that has the systems, team, expertise, and knowledge in this area.

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HMO Letting & Management


Managing HMOs is more intensive than most investors first think. Running costs are higher, and there are many complex regulations that apply to HMOs that do not apply to single let properties. There is also a higher turnover of tenants, and there can be more wear and tear on the property. It is for these reasons that many Landlords, and indeed many Letting Agents, stay away from HMOs. Here at Dwell we specialise in HMO Management and have helped many investors to overcome complex challenges presented by the management of HMOs, and we continue to help HMO investors get fantastic returns on their properties.  

HMO Mortgages



Are you interested in purchasing an HMO property? If so, you'll usually need to take out a specific HMO mortgage product. We'll take you through everything you need to know about HMO Mortgages from how they work and how to choose the right one. We'll also provide some tips on how to get the best deal when taking out an HMO mortgage.

Mortgage Lenders are often more cautious when it comes to offering finance for HMO mortgages. Landlords/Investors usually need experience of owning an HMO in order to pass the lender’s criteria, and rates are often higher than standard Buy To Let mortgages. If you're considering buying an HMO property Dwell is here to guide you through the process.

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HMO Licensing


Some HMOs also require a license. The circumstances in which properties will require a license are complex, however as a general rule if the property is to be let to 5 unrelated sharers then it would generally need an HMO license. 

In order to obtain an
HMO license, the property would need to ensure it has the correct features which often include a hard-wired fire detection system, fire doors, and interlinked smoke detectors with battery back-ups. Minimum rooms sizes may also apply, as do the amount of storage, cooking, and washing facilities that must be made available. HMO licenses also fall into different categories. In general terms, the larger the property, the more restrictive the terms of the license will be. HMOs must have Electrical Periodic tests carried out routinely as well as routine testing of fire safety equipment. Every property is different, therefore to establish exactly what upgrades you would need to comply with licensing, you would need to take advice from the HMO team at Leeds City Council.

Would you like to know more about HMOs?


We have written a number of helpful articles on HMOs and publish new ones regularly,  covering some of the common questions we receive from investors. We have a number of years of experience managing HMOs and we are placed perfectly to guide you further. Get in touch today to find out more. 

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How Dwell we can help you overcome the challenges ahead


Clearly, this is a more technical area than buy-to-let, however, understanding it can be lucrative for investors, and enable them to achieve higher yields than with buy to let. 

A word of caution, however – the HMO market has become extremely competitive in Leeds in recent years. Location, the quality of refurb/finish, the addition of en suite bathrooms, and room sizes have become increasingly important as a result. Voids are becoming increasingly problematic for some Landlords whose properties aren’t competing in these areas.

We don’t advise investors to go straight into HMO investment without prior experience as a Landlord.



Would you like to know more about HMOs?


We have written a number of helpful articles on HMOs and publish new ones regularly,  covering some of the common questions we receive from investors. We have a number of years of experience managing HMOs and we are placed perfectly to guide you further. Get in touch today to find out more.