October 2026What's the HMO market like right now, and where is it heading in 2027?
An HMO valuer's read on today's market, why buyers are agreeing 3–4% below asking, why testing the market backfires, and what 2027 holds for HMO landlords.
October 2026How Article 4 really affects HMO values
Article 4 is supposed to make HMOs inside the boundary more valuable. Here's why the pre-direction development rush often pushes values down first, and what happens next.
October 2026What is a good net yield for an HMO in this market?
Why 8–10% net is the benchmark, why off-the-shelf HMO investors struggle to reach it today, and how room rents change the gap between gross and net yield.
October 2026Buying an HMO as an overseas investor: be pessimistic with your numbers
Why so many overseas HMO investors have had a poor experience, how distance changes your running costs, and what to sort before you look at a single deal.
October 2026What adds the most value to an established HMO, and when is the right time to sell?
Why repainting and raising rents won't move a valuation, what genuinely adds value to an established HMO, and why a fully prepared HMO sells for 92–95p in the pound.
October 2026Should I self-manage my HMO?
The worst and the best HMOs I visit are both self-managed. What separates them, why more landlords are asking the question, and a sensible route in.
August 2026Buying an established HMO: how to read, price and buy it right
How to buy an established HMO well: the compliance checks, the rent-per-room sense check, the leverage trap, and which tier to buy, from HMO valuer Richard Nicholls.
August 2026Non-Article 4 areas: where to invest in HMOs, and why planning comes fifth
Are non-Article 4 areas the best places to invest in HMOs? Why permitted development stops at six, why open postcodes get crowded, and six questions to ask first.
October 2026Does that HMO conversion deal really stack up? Five things to check
Five useful tips for checking whether a new HMO conversion deal really stacks up, especially if you're being offered deals by deal packagers.
From the archiveOccupancy is the only thing that matters with HMOs
Forget your boutique finishes, your refinance capability or your scatter cushions. It's month-on-month, year-on-year occupancy that makes a good investment.
From the archive“Why are they selling their HMO if it cash flows so well?”
I get asked this a lot, usually by first-time investors. Landlords sell for all kinds of reasons, but usually one of these:
From the archiveWhy do tenants choose house shares when a studio costs only a little more?
In lots of locations, usually northern and blue-collar, the difference between an average HMO room and an average studio is tiny. Sometimes the "boutique" rooms aiming for…
From the archiveDeveloping an HMO is like dating
In my travels I visit hundreds of HMOs a year, and I keep seeing a tale of two stories.
From the archiveSo, you're thinking of selling your HMO?
There are a few things to think about to get the right sale for you and your property: value, who's buying and who can actually perform, the health of the HMO, and how much…
From the archiveBuyer A and buyer B: who actually buys an up-and-running HMO?
There are two main types of HMO buyer.
From the archiveDoes every HMO tenant want an en-suite? Probably. Can they all afford one?
Ideally, does every HMO tenant want their own en-suite? Probably, yes. Can every tenant afford the jump in price that's being charged to cover the cost of an all en-suite…
From the archiveYield valuations: why so many HMO refinances disappoint
With HMOs, the goal for landlords and developers is usually a yield valuation, on sale or on refinance. That's where the value is based on the income rather than the…