14:00 PM, 27th July 2020, About 2 years ago 4
I have 2 properties I share ownership of and both of which are run as HMO’s. It does take more work and I have become something of a social worker, but as a business, it definitely has its good points re yield even with a small turnover of tenants.
I see live-in landlords and tbh that’s not for me, I like my own space and their cleanliness doesn’t do it for me either, I am the cleaner in ours.
I’ve googled this question without too much success, but maybe the knowledge is out there.
Where do you stand if you section off part of the house, for instance, the ground floor, and rent the upstairs?
One of our rentals is a large 7 bed with 5 en suites and 2nd kitchen upstairs to keep the facilities size to tenants in order. It seems if you sectioned the ground floor into a flat you would be segregated and could still rent the upstairs which would abide by all the regulations needed.
I was thinking more of a different property and location with some land which I couldn’t afford or justify by myself. It would be large enough for downstairs to be a good-sized flat and upstairs would pay for it.
Even with lodgers, I would want to be segregated which isn’t the definition of a lodger so why not go all out and have more tenants. I would still be paying everything as an HMO just the HMO would be a 2 in 1 property.