HMO Case Studies
With over 30 years’ experience in Edinburgh’s buy-to-let market and as investors/landlords ourselves, we know exactly which properties will deliver high capital and rental yields.
We will view properties across Edinburgh and assess their value and potential. Have a look over some of our most recent case studies to see how we have transformed dated, spacious properties, often with only 2-3 bedrooms, into modern HMO licensed accommodation. Therefore, making sure you will receive the best return on your investment.
Have you got an existing HMO property and would like to receive a free rental valuation from Cullen Property? Click here.
Haymarket
Brief
To source a traditional property with high rental yield potential, which could also offer some increase in value by way of minor works/layout-alterations, located in an area likely to see good capital growth.
Project
We sourced a large, 3rd floor property which had good letting potential as either a four or five bedroom Professional/Post-Grad HMO , but only one shower room. We altered the layout slightly by taking a short section of the large dining kitchen and incorporating that into the adjacent existing utility room to create a new internal bathroom with shower and w.c. Other work included a refresh of the décor, and joinery glazing work to ensure HMO compliancy. The client elected to retain the living room and operate as a four bed HMO, giving a higher rent-per-room rate and meeting his rental return expectations. The property is located in the West End and is likely to see increased capital growth as numerous large projects in the immediate vicinity are completed in the near future (e.g. The Haymarket).
Delivered outcome
An excellent property which still retains all original features and does not look or feel like a HMO property, other than in the financial figures it achieves for the client.
Leamington
Before
After
Brief
To source a traditional Edinburgh tenement property that had the potential to form a 6 bedroom HMO property.
Project
Originally a five bedroom property with two bathrooms, living room and kitchen, the property required re-modelling to create a compliant 6 bedroom HMO property. A supporting wall required taking down and moved circa 300mm into the room next door in order to form a room wide enough to become the 6th bedroom and comply with the 2.25m wide bedroom arrangement HMO require. The property had HMO licensing upgrades carried out to the electrics and the doors. Both bathrooms were fully refurbished to form modern, three piece suite bathrooms and the kitchen was redesigned to allow for 2 ovens, hobs, fridge/freezers and sinks as required by HMO for a 6 bedroom license.
Delivered outcome
The property has been fully refurbished and redecorated and now provides a high standard of living for students and/or young sharing professionals.
Canongate
Before
After
Brief
To source a property for an overseas cash buyer looking for a long term investment in a traditional property with a good rental yield.
Project
This three bedroom property was sourced to refurbish into a fully HMO compliant flat. The property had all HMO licensing upgrades carried out to the electrics and doors, the kitchen has been replaced and the rest of the property refurbished to a high standard.
Delivered outcome
The property has been finished to a high standard to attract mature students/young professional. Due to the property’s location, its value will only grow and offer the Client good yields for years to come.