January 28, 2010

Buy to let landlords making money from Houses in multiple occupation

The Royal Town Planning Institute (RTPI) expresses positivity at the news of the governments concerns over the increases in the number of Houses in Multiple Occupation in some residential areas.
Houses in Multiple Occupation or HMO’s as they are known in the property sector have been the subject of licensing in recent years after the HMO license scheme was piloted in areas including Derby.
There is particular concerns for areas prone to high demand form Students in university towns with some quarters voicing concerns that HMO’s can lead to the lowering of community spirit in some residential areas. The nature of HMO’s does favor students and more transient short term residents which is sure to affect the feeling of community in areas of high HMO’s. It will be interesting to see what is included in any planning policy guidelines and how this may affect values and the availability of share households.

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