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spunko

HMOs for sale

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More and more of these coming to market, anyone else noticed this?

This one is quite nice, it's been subdivided up but for sale as a whole. Shame it's right on the A road. Just makes me wonder how many more of these there are around and not just in London.

https://www.rightmove.co.uk/property-for-sale/property-68796721.html

Quick back of fag packet maths, 8 squatters/occupiers = £300 per month x 8 = £2400 a month income, less mortgage.

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I remember when they were called bedsits.

Looks like a nice family home, chopped up and turned into slave boxes. LIBLABCON party can be proud.

Edit - Looks quaint but i bet its f'en freezing, wonder if having to upgrade so it meets new EPC regs has anything to do with selling.

Edited by Band

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6 hours ago, Band said:

I remember when they were called bedsits.

Looks like a nice family home, chopped up and turned into slave boxes. LIBLABCON party can be proud.

Edit - Looks quaint but i bet its f'en freezing, wonder if having to upgrade so it meets new EPC regs has anything to do with selling.

Listed normally exempt from EPCs, but you'll probably want secondary glazing to hide the road noise :CryBaby:

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11 hours ago, spunko said:

More and more of these coming to market, anyone else noticed this?

This one is quite nice, it's been subdivided up but for sale as a whole. Shame it's right on the A road. Just makes me wonder how many more of these there are around and not just in London.

https://www.rightmove.co.uk/property-for-sale/property-68796721.html

Quick back of fag packet maths, 8 squatters/occupiers = £300 per month x 8 = £2400 a month income, less mortgage.

Thats funny, a nice country pad converted into a HMO. Currently returning a massive yield of 2.88% fully let. No wonder the LL wants out.

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21 hours ago, spunko said:

More and more of these coming to market, anyone else noticed this?

This one is quite nice, it's been subdivided up but for sale as a whole. Shame it's right on the A road. Just makes me wonder how many more of these there are around and not just in London.

https://www.rightmove.co.uk/property-for-sale/property-68796721.html

Quick back of fag packet maths, 8 squatters/occupiers = £300 per month x 8 = £2400 a month income, less mortgage.

Thats not a HMO.

Thatsa redevelopment project thats not sold, so theyve tried to fill it random people.

Or its a repo.

The finishing and fittings are waaaay to high end and new.

I dont know the area at all but looking Id guess the only;y people theyll have got is a collection of agri labours or EE home helps on low wages.

https://www.travelrepublic.co.uk/2-1606527-1/the-farmhouse-bed-and-breakfast

Itsa BnB.

Must have failed - why try and do a HMO?

So might be a probate.

 

 

 

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33 minutes ago, spygirl said:

Thats not a HMO.

Thatsa redevelopment project thats not sold, so theyve tried to fill it random people.

Or its a repo.

The finishing and fittings are waaaay to high end and new.

I dont know the area at all but looking Id guess the only;y people theyll have got is a collection of agri labours or EE home helps on low wages.

https://www.travelrepublic.co.uk/2-1606527-1/the-farmhouse-bed-and-breakfast

Itsa BnB.

Must have failed - why try and do a HMO?

So might be a probate.

 

 

 

Think the reason is the location. At some point that A road will need widening and that house will either be flattened or traffic will be even louder, listed houses don't sell near busy roads as you're rarely allowed double glazing etc. 

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19 minutes ago, spunko said:

Think the reason is the location. At some point that A road will need widening and that house will either be flattened or traffic will be even louder, listed houses don't sell near busy roads as you're rarely allowed double glazing etc. 

That's a good point. I wonder how many people will realise others won't put up with things like this in their houses if prices get back to normality. 

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I have a dream (which will probably never be realised) that in a more prosperous post brexit Britain there will be work in the building trade converting shitty hmos back to the buildings they were intended to be. These big old country places with little stables converted to 'flats' so that people are paying big chunks of their income to live in buildings literally constructed to house animals are a particular wind up.

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11 minutes ago, Caravan Monster said:

These big old country places with little stables converted to 'flats' so that people are paying big chunks of their income to live in buildings literally constructed to house animals are a particular wind up.

Btl is also mad. Debt is invented by the banks from thin air. So when a btler takes money earned in the real economy from a renter and pays off their mortgage debt, that money gets destroyed and hence is out of the real economy. The whole thing is madness. 

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22 hours ago, Green Devil said:

Thats funny, a nice country pad converted into a HMO. Currently returning a massive yield of 2.88% fully let. No wonder the LL wants out.

And mortgages on HMOs has business loan level rates so 5-6% so waste of time unless your mostly buying in cash.

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Headingley in Leeds currently has an absolute glut of HMO properties in a small area. I think the council are refusing to give out/renew HMO licenses in what was formerly an area filled with students. I've drawn a search area very close to Headingley town centre over one small estate - 25 properties up for sale, basically all HMO's.

 

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=USERDEFINEDAREA^{"polylines"%3A"u~mgIzauHgFbWy\ql%40nOwPtJcAzGhh%40"}

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1 hour ago, Durabo said:

Headingley in Leeds currently has an absolute glut of HMO properties in a small area. I think the council are refusing to give out/renew HMO licenses in what was formerly an area filled with students. I've drawn a search area very close to Headingley town centre over one small estate - 25 properties up for sale, basically all HMO's.

 

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=USERDEFINEDAREA^{"polylines"%3A"u~mgIzauHgFbWy\ql%40nOwPtJcAzGhh%40"}

Could be a new tactic by many LA's, depending on who holds sway there could be a lot of pressure from local educational establishments to shut down the competition if they are left with unlet halls of residence themselves with pressure from falling student numbers.

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I assume council tax receipts are significantly reduced in heavily populated student areas? I also think the demographic of Leeds is changing. Lots of business investment (a surprising number of large business HQ's e.g Asda, EasyJet and I think Just Eat) and the moving of future MoJ and HMRC jobs means good housing relatively close to the city centre is needed. And if the council have allowed loads of student specific housing in the town centre (which they have) changing the demographic of the area makes sense.

I'm not even close to being an expert- I'd be interested to hear other peoples takes.

Edited by Durabo

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3 hours ago, Durabo said:

Headingley in Leeds currently has an absolute glut of HMO properties in a small area. I think the council are refusing to give out/renew HMO licenses in what was formerly an area filled with students. I've drawn a search area very close to Headingley town centre over one small estate - 25 properties up for sale, basically all HMO's.

 

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=USERDEFINEDAREA^{"polylines"%3A"u~mgIzauHgFbWy\ql%40nOwPtJcAzGhh%40"}

Yes. Leeds are cracking down on hmo. The council and residents have had enough.

https://news.leeds.gov.uk/landlord-licence-changes-for-houses-in-multiple-occupation/

1 hour ago, Durabo said:

I assume council tax receipts are significantly reduced in heavily populated student areas? I also think the demographic of Leeds is changing. Lots of business investment (a surprising number of large business HQ's e.g Asda, EasyJet and I think Just Eat) and the moving of future MoJ and HMRC jobs means good housing relatively close to the city centre is needed. And if the council have allowed loads of student specific housing in the town centre (which they have) changing the demographic of the area makes sense.

I'm not even close to being an expert- I'd be interested to hear other peoples takes.

Yes they are.

Like holiday lets, both create total fucking hell, all for tye locals to pay for the services.

HMO, student or not, should have at least a ctax bill attached to them.

 

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2 hours ago, onlyme said:

Could be a new tactic by many LA's, depending on who holds sway there could be a lot of pressure from local educational establishments to shut down the competition if they are left with unlet halls of residence themselves with pressure from falling student numbers.

No  . Councils fed up. Redidents are fed up.

Leeds student and dosser pop has probably gone up 6x in the last 20 years.

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8 hours ago, steppensheep said:

Out of curiosity, why did the need for special regulations for HMOs arise? Surely any safeguards should apply to all housing.

Of fuck, you need to ask?

Ah Mr subcontientalsurname, what a fine building you have here. How many do you house? 20?? Ah, a toilet.cumstudiocumstudio.

Various reasons.

One, they are a massive heath hazard - fire and whatnot.

Two, they encourage illegal migrants.

Three, they are an actual pain i nther arse for people and businesses nearby.

 

 

 

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I think we are going to see a general move away from being a student in the next few decades. People will realise for most it's a waste of time. 

At the same time the UK is being flooded with purpose built student accommodation. 

I think private student lettings are on a serious down trajectory. 

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Another thing I've been wondering about, what's been the effect of student expansion on non university towns? In the old days, 95% of 18 to 21 year olds lived with their parents or moved nearby. Even 10 or 20 years later they probably lived fairly near their home town. Now 50% move away and I assume  most don't go back. It must be quit a significant t change.

 

 

 

 

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On 01/12/2018 at 09:54, UnconventionalWisdom said:

Btl is also mad. Debt is invented by the banks from thin air. So when a btler takes money earned in the real economy from a renter and pays off their mortgage debt, that money gets destroyed and hence is out of the real economy. The whole thing is madness. 

I think you mean 'remortgages to the maximum every time the property increases in value'

Paying off the debt is highly unlikely.

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3 hours ago, spunko said:

https://www.independent.co.uk/news/uk/politics/council-tax-local-government-authority-wants-to-claw-back-200m-lost-in-wealthy-bachelor-discounts-to-9194340.html

FFS. If they do this, I'm not sure what I'll do. The banding system is bollocks, my 2/3 bedroom house is Band F. Totally unfair.

(Failed my appeal against it)

I thought council tax is due to the services needed and hence one person uses less than a family. They just want to extract money for the sake of it, what a great country we live in....calling it wealthy bachelors is just manipulative. 

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On 01/12/2018 at 08:52, spunko said:

Think the reason is the location. At some point that A road will need widening and that house will either be flattened or traffic will be even louder, listed houses don't sell near busy roads as you're rarely allowed double glazing etc. 

Looks like it is near blue boys roundabout? Every time drive there it is gridlocked on approach to roundabout. Even with the parts of the A21 they have dualled the traffic is terrible at rush hour. 

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2 hours ago, UnconventionalWisdom said:

I thought council tax is due to the services needed and hence one person uses less than a family. They just want to extract money for the sake of it, what a great country we live in....calling it wealthy bachelors is just manipulative. 

It's scandalous the way they verify the banding as well when you appeal against it. You can send them countless examples of similar sized / priced houses in the same road/area that are on a lower Band, but it doesn't matter as they will simply search for 2-3 examples of houses on the same Band as you within 10 miles. There must be 1000 houses within 10 miles of here so of course they are going to find some others that are in a band too high. Outrageous really.

I should be on Band D by my reckoning, that'd be about £700 a year cheaper.  :PissedOff:

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1 hour ago, maudit said:

Looks like it is near blue boys roundabout? Every time drive there it is gridlocked on approach to roundabout. Even with the parts of the A21 they have dualled the traffic is terrible at rush hour. 

It's the double roundabout just after it that causes the problems, and then goes into single lane. Stupid, surely must be bypassed within the next few years with funding from some dodgy PFI, and take it two lanes down to Lamberhurst. Terrible shame really as countryside very nice round there.

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