6 HMO features to attract the best tenants

Any landlord will know that the key to successful HMO investing is attracting the best tenants and this is done by ensuring your property has the best HMO features.

From the size of the bedrooms and communal spaces provided to the quality of the furnishings and whole house share experience offered, the HMO features that distinguish your property will have a huge impact on how much rent you can charge.

But before we get into the top 6 HMO features to consider, here’s a few words about understanding your target tenant and what they might want from an HMO.

Who is your target tenant?

HMOs are no longer an asset class targeted at students and individuals on low incomes. Over the last decade, thousands of investors have been providing high quality HMOs for young professionals - many of whom form a part of a mobile workforce looking for flexibility and affordable renting options before stepping onto the housing ladder.

There’s even been a rise in house sharing among the over 50s, so how you design and develop your HMO will largely depend on the type of tenant you aim to target and their needs.

Whatever tenant demographic you choose to cater for, the following HMO features will help to minimise voids and maximise income, while increasing the chances of attracting long-term tenants.

1. Large bedrooms

Unless you are specifically targeting students or individuals on low incomes (and even their expectations are rising), then large double bedrooms are a must. Not only do they have to comply with the latest national minimum room sizes (6.51m² for one person over 10 years of age) but you’ll likely achieve a higher rent if you go above and beyond this.

For many professional HMO tenants, their bedroom is not just somewhere they sleep, it’s somewhere they hang out, possibly eat their dinner and also work. If space allows, try creating a mini studio with an area for a desk and chair, and maybe even a small sofa.

2. Private en-suites

Tenants who want access to their own private bathrooms will most definitely pay a premium, so wherever possible, try and include en-suites in your refurbishment and conversion plans. In an HMO with six bedrooms, a common set up is four bedrooms with en-suites and one shared bathroom between two.

Be advised that there are an increasing number of instances where local authorities are enforcing new council tax banding for HMOs, especially where rooms are deemed ‘self-contained’, which an en-suite bathroom could contribute towards. So work out your numbers on a worse-case scenario.

3. Storage

No matter what their previous living arrangement, tenants come with a lot of ‘stuff’, which they might be hard pressed to squeeze into a single wardrobe in their bedroom. So before you convert every nook and cranny into rentable space, think about what clever storage solutions you can provide for tenants.

This is not just about having space-saving furniture in their bedrooms (under bed storage and ottoman stools are great for this) but also cloakrooms, bike storage, sheds and also parking spaces.

4. Communal spaces

As with storage, it’s common for landlords to compromise on communal space in order to cram in as many rentable bedrooms as possible into an HMO. Communal spaces are, however, really important for tenants. Even if they aren’t overly sociable, no one wants to feel like they only have their bedroom to spend time in.

Spaces that encourage togetherness and collaboration help to create a harmonious household too. Whether it’s an open plan design, converting a garage or adding a conservatory, make sure there is plenty of space for tenants to cook, eat and have fun together. Consider a dining table big enough for everyone, sofas and armchairs around a coffee table and last but not least, outside space, if possible.

5. Connectivity

One of the most sought-after HMO features by tenants is high-speed broadband. Almost everything we do requires an internet connection these days and with multiple people connecting their phones, tablets, laptops, TVs and gaming systems to the WiFi, it must be quick and reliable. You could also include a TV subscription service in your bills if you’re feeling generous.

You could also consider going one step further and developing a smart home. Investing in the right technology upfront, like remote heating control and motion sensor lighting, will save on your energy bills and also attract the more eco-conscious tenants.

6. Homely HMO features

Last but not least, choose HMO features that turn your property from a house into a home. Carefully chosen but durable soft furnishings, neutral wall art and stylish accessories will take away the clinical feel that some shared houses have and let tenants know you want them to enjoy living there. The nicer the environment you provide, the more likely it is that tenants will look after the space.