With great access to London by train, the north via the M1 and international destinations with London Luton Airport, Luton is a vibrant town. As a result, it has fantastic prospects and employment opportunities for those starting their career. This created increased demand for properties making Luton an ideal choice for many investors. That is why we specialise in HMO management in Luton.
The University of Bedfordshire provides an on-going stream of those looking to share a property when they begin their working life. If you are looking for HMO management in Luton we understand the tenant type and how to maximise returns.
HMO Market in Luton
With the risen property price of up over the past 12 months, tenants are not discouraged to get on the property market. In fact, the demand for rental properties in Luton is still in place. And the market is expected to continue rising in the foreseeable future.
Need HMO Management in Luton? We can help!
This increase in interest is led by the fact that the area is a property hot spot according to a leading online estate agent. With the fast risen supply and demand of properties in Luton over the past decade, the property hot spot has ranked the area in the top 10 list of in-demand places in the United Kingdom. This is great news for HMO operators.
Luton (and the lack of Article 4 Regulations)
Unlike Milton Keynes (2014) and Bedford (late 2020), Luton hasn’t yet or signalled intent to evoke Article 4. In effect, this removes permitted development meaning all new HMOs will require granted planning permission. Conversely, in Luton this means that you can turn a property into a HMO without the need for planning permission. Great if you’re looking to get into the market.
However, the drawback means the market has a far higher supply of HMOs meaning more competition. Add to this the University of Bedfordshire significantly expanding the student accommodation. This in turn meant that many student HMOs were turned into worker/professional HMOs as you’ll see the market if different to surrounding towns.
Based on that, you really have two options:
- Make sure your property stands out – high quality properties in great locations still make a great return. Just don’t aim to be average else you’ll ultimately struggle.
- Invest in serviced accommodation in Luton instead – with continual growth, fabulous transport connections and an international airport, Luton has a buoyant serviced accommodation market. In many instances the returns outweigh that on a HMO.
HMO Management in Luton
Given all this – there really is no substitute for a specialist company that knows Luton. How do you know if you’ll make more money or have less hassle with a HMO or serviced accommodation property? We know exactly that as it is what we specialise in. This helps you have a hands free investment, plus maximise returns regardless of what property strategy you go with.
If you’re interested to know more on how our HMO management or Serviced Accommodation management have a look. Altenratively, you’d like a more specific conversation on what you’re looking to achieve and how we can help you, just contact us.