Half of houses in multiple occupation (HMO) landlords use their property or portfolio as their sole source of income, a survey by Landbay reveals.
The survey found that just under 30% of landlords owned an HMO property or portfolio.
Of these, 72% owned HMO properties through a limited company, while half said they did not have another job and used their property or portfolio as their sole source of income.
Despite some of the complexities of managing HMOs, the survey found that nearly half of the properties were self-managed by landlords – a third of whom owned portfolios with over 20 properties.
The reason for this more DIY approach could be that the most popular size of HMO portfolio was the smallest, between four and 10 properties, with 34% falling into that category.
The survey found that the highest proportion of HMOs were in London and the South East with 47%, followed by the East Midlands.
Landbay sales and distribution director Rob Stanton says: “Our survey results show continuing confidence in HMOs. Despite proposed rental reforms and local authority licensing schemes, the market remains resilient.”
“With an ongoing housing shortage, demand is stronger than ever for decent and fairly managed house shares.”
