Any Nuneaton Landlords looking for an ideal HMO property?

norman norman1

I have previously spoken about houses being possible HMO properties, mainly terrace properties with the front door being down the alley way so that you have 2 separate ‘reception’ rooms downstairs. Well one of our landlords has the exact set up with one of his properties which Is a HMO in Nuneaton, there are 3 self contained rooms all with kitchen areas within the room, 2 bathrooms – a male and female, and one room on the ground floor which when the house was in its original state would have been a reception room leading into the kitchen, and a downstairs bathroom, so this was kept as a ‘1 bedroom flat’.

This house that has come on the market with Reeds Rains for £135,000 on Norman Avenue in Nuneaton, would be an ideal house to do the exact same with. It is  detached house which makes it even better for a HMO as there can be no problems from tenants either side of the property (with joining walls).

http://www.zoopla.co.uk/for-sale/details/38060648

So based on similar figures to the HMO’s we manage, if this were converted like for like to the property I mentioned above that our landlord has, you could be looking at an annual  income of £17,680 which when you work out the yield gives you a figure of 13.09%!!

There would be a fair bit of work involved to get the property ready and obviously the cost involved too, but as an investment …and to see an amazing return, I really do think this is a great opportunity. It is located very central to Nuneaton town centre and could be marketed at working professionals only to ensure you get a certain type of tenant.

If you would like to speak to us more about the HMO market in Nuneaton, or you are looking to invest in a similar idea, please fell free to pop in and see us on Bond Street, we’d be more than happy to speak to you.