13:18 PM, 28th January 2016, About 6 years ago 11
We are about to purchase our second investment property in SE London. It’s a 2 bed semi and could easily be converted to 3 bed by using a downstairs room.
The straight unfurnished let should achieve a gross rent of £1400 per month . Letting 3 rooms individually could achieve circa £1800 – 2100 per month but the property would then be classed as an HMO which we have no experience of.
Our tenants would be young professionals probably working in London 1/2 hour away from Station which is a 7 min walk.
From people with experience of running HMO’s what are the key benefits and risks vs a straight unfurnished let? We are retired and this will be pension income for my wife .
Should we get a licenced professional organisation to set it up and run it ?
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