This post was most recently updated on March 28th, 2023
HMOs, or Houses of Multiple Occupation, have become increasingly popular in recent years, especially among students.
A HMO is a property that is rented out to multiple people who are not part of the same household but share common spaces such as kitchens and bathrooms.
Here are nine ways that HMOs are changing the landscape of student accommodation.
1. More Affordable Accommodation
One of the main benefits of HMOs is that they offer affordable accommodation for students. Renting a single apartment can be expensive, but with an HMO, students can share the cost of rent and utilities with their roommates.
This can make it easier for students to afford to live in desirable locations near their universities, allowing them to focus more on their studies and less on financial concerns.
2. Increased Social Interaction
Living in an HMO can also provide students with increased social interaction. Students who live in HMOs often share common areas like kitchens and living rooms, providing opportunities to interact and form friendships with their roommates.
This can be particularly important for students who are new to a city or country and don’t have established social networks.
3. Improved Facilities
Many HMOs offer improved facilities compared to traditional student accommodation. For example, some HMOs provide en-suite bathrooms, modern kitchens, and communal areas for studying and socializing. This can make a living in an HMO a more enjoyable and comfortable experience for students.
HMOs can also offer more flexibility for students. With traditional student accommodation, students often have to commit to a fixed-term contract of a year or more.
In contrast, many HMOs offer flexible rental agreements that can range from just a few months to a year or more. This can be particularly useful for students who only need accommodation for a short period, such as those on exchange programs.
HMOs are often located in desirable areas that are close to universities and other amenities. This can be particularly important for students who want to live close to their campus or who want easy access to restaurants, shops, and entertainment venues. Living in an HMO can also provide students with a sense of independence and freedom as they are not tied to living on campus.
6. Increased Demand
The rise of HMOs has led to increased demand for this type of accommodation. This has prompted developers to build more HMOs, leading to a wider variety of options for students. As the demand for HMOs continues to grow, it is likely that we will see even more innovative and high-quality HMOs in the future.
7. Better Security
Living in an HMO can provide students with better security than living alone in a single apartment. HMOs often have secure entry systems and may have security cameras or other measures in place to keep residents safe. This can provide students with peace of mind and make them feel more secure in their living environment.
8. Better Management
Many HMOs are managed by professional companies that are experienced in providing student accommodation.
These companies can offer a range of services, including maintenance and repairs, cleaning, and 24/7 emergency support. This can make a living in an HMO a hassle-free experience for students, allowing them to focus on their studies and social life.
9. More Sustainable Living
HMOs can also promote more sustainable living among students. By sharing a property with others, students can reduce their carbon footprint and have a lower impact on the environment.
Many HMOs also have recycling programs and may encourage sustainable behaviors such as using public transportation or biking to school. This can help students develop sustainable habits that they can carry with them into their future lives.
HMOs are changing the student accommodation landscape in many exciting ways. From more affordable rent to increased social interaction and better facilities, HMOs offer a range of benefits that make them an attractive option for students. If you are hoping to get into the field of investing in HMOs, then make sure you find a reputable property management company like HMO Designers who can assist you.
Plus, with the rise in demand for this type of accommodation, it’s clear that HMOs are here to stay.
Don’t miss out on the HMO trend – join the party and experience the benefits for yourself!