Michael Gove is to relax planning rules in England in an effort to create more homes in “the hearts of our cities”.
The levelling up secretary says ‘he wants to make it easier to convert empty retail premises and betting shops into flats and houses.’
‘Britain needs more homes to fulfil more dreams of home ownership and increase choice for renters.’
‘But they must be of the right type and targeted in the right places.’
‘So we must build more in the places that make sense – in our inner cities so that we protect our countryside.’
‘Empty shops or offices cannot be gathering dust while we have an urgent need for more homes.’
‘That is why we are reviewing the rules around permitted development rights to make sure we can regenerate, build and grow.’
This regeneration requirement is not new, we’ve been attempting to solve this for decades. What this does do is build on and open up opportunities for the property investor.
There’s a high demand for flexible, great value, excellent quality rental accommodation, especially close to and in Town and City centre’s. The HMO sector is ideally suited to deliver this type of accommodation.
Shops and offices are perfectly suited for redevelopment into HMO’s. These can be completed fast, helping to alleviate the housing shortage in one of the quickest ways. The influx of people living in these homes also revives and enriches these Town and City areas.
If we also consider the rising rents due to the lack of supply of suitable rental properties, now is the time to invest in HMO’s
There are challenges, one of the main ones with property investment is the managing of the asset to ensure a profitable return. HMO’s are well known to need skilful and very attentive management to be the lucrative investment they have the potential to be.
ROOMS® works with Landlords and Letting Agents to deliver lucrative property investments, with the bonus to the investor of a truly handsfree investment.
