Platinum Property Partners has explained why you should consider investing in HMOs.
Despite uncertainty in the property market following Brexit and the pandemic, the sector has been able to surpass expectations. In a recent blog post, Platinum Property Partners revealed why it believes HMOs still make a sensible investment.
Of course, renting a room in an HMO instead of a one-bed flat - or buying a home - gives people the chance to save money. But there are many more reasons why HMOs are popular.
According to the property franchise, 31 percent of UK adults in shared accommodation could afford to rent a property on their own, and 12 percent could buy a home (Spareroom). These figures suggest many people opt to live with others out of choice.
Plus, many HMO investors rent out rooms to people who are new to the area. In many cases, they gain not only a home, but a social life too.
What’s more, you only need to look at on-demand TV and music, food delivery services and car leasing to see we’re moving towards a subscription-focussed culture. HMOs give renters access to a fully furnished home and inclusive bills without too much commitment.
And, in an age of remote working, most Platinum Property Partner franchisees provide desks and home office spaces, as well as superfast broadband.
Although prospective franchisees might be wary about investing during a recession, statistics show property is still incredibly valuable. During the pandemic, high demand has pushed up rental costs to a monthly average of £964.
In 2021, Platinum Property Partners can offer a fantastic opportunity. Franchisees can generate healthy incomes, give up their jobs, gain a great work/life balance and build a legacy to pass on to their children. Meanwhile, they’ll also be providing high-quality accommodation for people who need it.
Alice Tuffery, Point Franchise ©