4propertyUK have an experienced team who specialise in sourcing and developing for property investors.
Houses in multiple occupation (HMOs) in particular are becoming an increasingly popular accommodation choice. Young professionals are opting for this affordable and convenient way of living, and you can reap the rewards of the greater returns this offers. Here, we detail the benefits of capitalising on key areas like Oldham and Tameside, and what you stand to gain from HMO investment.
Investing in Oldham
Oldham is more affordable to buy and rent than the city of Manchester, and the area attracts plenty of professionals and students alike.
It’s ideal for those not wanting to live in the busy centre, but still easily access it for its wealth of opportunities in terms of activities, jobs and education. With three Oldham stops on the Metrolink tram network, many are willing to make the short commute (Oldham Central to Manchester Victoria takes just 30 minutes).
Oldham has many great things to offer, such as a vibrant town centre or exploring the beautiful Saddleworth villages. Oldham has enjoyed substantial regeneration since 2016 and is home to a host of recognised high street brands.
All these possible pursuits make the borough perfect for working professionals, who in turn require a good standard of accommodation at affordable prices. This is our target tenant demographic!
Investing in Tameside
A wide range of educational institutions is something that Tameside has in common with Oldham, and many of these are turning into academies.
Both families and those interested in leisure activities will find Tameside is the best place to be. It has thirteen leisure facilities – from swimming pools to gyms and bowling centres.
There are plenty of food and drink establishments here as well, so it’s not necessary to venture into the city centre. However, visiting Manchester is quick and easy – the borough spans a number of towns, including Ashton-under-Lyne, Audenshaw and Droylsden, which are all less
than 30 minutes away via the tram network. One of Tameside’s most popular towns, Stalybridge, is only fifteen minutes on the train.
Each of these locations are lower for house prices than other nearby areas like Denton and Hyde. Wherever you decide to invest, as the borough is so vast, there definitely be opportunities that bring you high rental yields.
HMO investing in Oldham or Tameside
An HMO investment in either Oldham or Tameside is ideal – offering up to 5 times as much rental income. With both location’s benefits, and HMOs becoming a more popular way of living, it’s unlikely any properties you own would ever be vacant. And if one person does decide to vacate their room, then you will still receive the rental income from the other tenants.
The only downside is that they involve more management – attracting tenants, furnishing the space, and maintaining the property to keep it in pristine condition and ensure tenant satisfaction. That’s where 4propertyUK comes in. We allow you the opportunity to become an ‘armchair investor’ – you can sit back and relax, as we carry out all the work entailed.
We’re experienced in dealing with a diverse range of tenants, meaning we know both how to appeal to them and how to keep them happy. Our HMO management can also involve guiding you through potential refurbishment site locations, and providing the necessary builds and extensions.
To find out more, speak to a member of our team today.