How to Buy HMO Property in Edinburgh and What’s Involved?
If you’re looking to buy HMO property in Edinburgh, it’s essential to understand the process, legal requirements, and what makes a successful investment. An HMO, or House in Multiple Occupation, is a property rented out to three or more tenants who are not part of the same household but share facilities such as a kitchen or bathroom. These properties are particularly popular in Edinburgh due to the city’s large student population and young professionals seeking affordable shared accommodation. The first step when buying an HMO is researching the local property market. Identify areas with high rental demand and good transport links, as these tend to attract long-term tenants and maintain consistent occupancy. Areas near universities or the city centre often provide better rental yields but may also come with higher property prices, so balancing cost and return is key. Next, you must understand Edinburgh Council’s HMO licensing requirements. All HMOs in the city must be licensed to ensu...