HMO portfolios, built for you

You're busy. We build the portfolio.

Lera Real Estate finds properties with HMO potential, converts them and lets every room, so you can earn strong property income without becoming a developer. You fund the project. We do the rest.

Book a discovery call How it works

c.25% cash on cashTarget return, after fees
Fully hands-offWe manage every stage
HMO specialistsConversions only

Target returnc.25^%Cash on cash, with our fees already included

Timeline5–6^moFrom purchase to completed and fully let

Your deal0^%We never take a share of your property or profits

Our fees2+2^%2% acquisition fee and 2% management fee

Capital at risk. Targets and examples are not guaranteed, and past results are not a guide to future returns. Important information

Projects

Some deals we've delivered.

Who we are

HMO specialists who do the hard part for you.

We build HMO portfolios for investors who want the returns without the building sites, paperwork and tenant calls. You stay in control of every key decision. We handle the work, from finding the house to the last tenant moving in.

0%of your deal

The property and the profit are 100% yours. We charge a simple 2% acquisition fee and 2% management fee, and the c.25% returns we quote already include them.

How it works

From first call to fully let.

We don't buy ready-made HMOs. We find houses that are right for conversion, because that's where the value is created.

1
Strategy call
We agree your budget, goals and brief.
Week 1
2
Find the house
We source a house with conversion potential and send a full appraisal.
Until the right deal
3
Purchase
Bought with bridging finance, with solicitors and surveys handled.
Completion
4
Convert
Planning, licensing and a fully managed build.
Months 1–5
5
Let and refinance
Every room let, then refinanced to release your cash.
Month 5–6

Purchase to completed and fully let in around 5–6 months

Try it yourself

What could my money return me annually?

Choose an amount and compare what it could earn in a year: in the bank, in a buy-to-let, in the stock market, or in a Lera HMO.

If I invest£100,000

A Lera HMO could return£25,000a year, at our c.25% target

Rates: savings c.5%, London buy-to-let c.5% gross yield, S&P 500 c.10% long-run average, Lera HMO c.25% target after costs and fees. Illustrative only, not a forecast or a guarantee. Unlike a savings account, an HMO is not protected, values and rents can fall, and property can take months to sell.

What's an HMO?

The numbers

How a project pays you back.

Follow an illustrative worked example, based on costs from one of our past projects, from the day we buy to the rent arriving every month.

Illustrative figures only

Click each stage to follow the money: Buy, Build, Refinance, Earn →

What if?

Test the numbers yourself

Every deal is different. Move a slider to see how a change in one assumption would affect the worked example above. The figures at the top, every step and the return all update as you go.

Cash-on-cash return

Rent per room

What each tenant pays a month, usually with bills included. Higher rent means more profit each year.

Value after works

What the lender's valuer says the finished HMO is worth. A higher value means a bigger mortgage and more cash back to you.

Refinance loan size

How much of the new value the mortgage lends. Borrowing more returns more of your cash, but means higher interest.

Mortgage rate

The yearly interest on the long-term mortgage. HMO rates are currently around 4.5% to 5.75% on a five-year fix.

Our example uses £1,042 rent, an £830,000 value, an 80% loan and a 5.5% rate, based on our real-life experience across past projects.

Our investors

What our investors say.

Why choose Lera

The experts on your side, with no stake in your deal.

You could try to build an HMO yourself. Here's why investors choose to have us do it for them.

0%

Equity in your deal

We never take a share of your property or its profits. The house, the rent and the growth are 100% yours. We charge a simple 2% acquisition fee and 2% management fee, already included in every return we show.

Expertise that protects your money

One costly mistake can cost far more than our fees: a layout that fails the council's room sizes, buying where planning won't allow an HMO, a build that overruns, or a down-valuation at refinance. Avoiding those is what we do.

Years of building experience

We've spent years building and delivering high-quality HMO conversions across London, from the first steel to the last tenant moving in. You can see the results in our projects.

A tested, repeatable process

Every project follows the same tested route: source, buy, convert, let and refinance, in around 5–6 months from purchase to fully let.

A trusted team

Our builders, solicitors, brokers and letting agents are people we've worked with project after project, so the work gets done properly and on time.

Total transparency

A full costed appraisal before you commit, weekly photo updates during the build, and clear monthly income statements once it's let.

Refer and earn

Know someone who'd love an HMO? Get paid for it.

Refer a friend, client, colleague or relative. We'll pay you 10% of our fees on every property they do with us.

Refer someone or CC us on info@lera-realestate.com

Ready to start your portfolio?

Book a free 30-minute call. We'll talk through your budget and goals, and whether an HMO project is right for you.

Book a call

How it works

Step by step, from first call to first rent.

Seven stages, one team and around 5–6 months from purchase to a finished, fully let HMO. Here is exactly what we do at each stage, what we need from you, and what you get back.

7clear stages
5–6months, purchase to fully let
2+2%our only fees
0%of your property or profit

The process

What happens, and who does what.

You stay in control of the big decisions. We do the work in between.

01
Discovery call
Week 1

A free 30-minute call to understand your budget, goals and timescale, and to check that an HMO project is the right fit for you.
We handle
- Walking you through the full process and the risks
- Explaining costs, fees and finance
- Agreeing a clear investment brief
You decide
- Your budget and target area
- Whether to go ahead
You get A written brief we use to search for your house.
02
Sourcing and appraisal
Until the right deal

We look for ordinary family houses with room to convert, because that is where the value is created. Most houses we look at don't make the cut.
We handle
- Searching for and viewing houses
- Checking local planning and HMO licensing rules
- Costing the build and testing local room rents
You decide
- Approve the deal, or pass and wait for the next one
You get A full appraisal for each deal we put forward: layout, costs, rents and expected return.
03
Purchase
Completion

We negotiate the price and buy using bridging finance, so less of your own cash is tied up at the start.
We handle
- Negotiating the offer
- Arranging the bridging loan
- Coordinating solicitors and surveys
You decide
- Fund the deposit and purchase costs
- Sign the purchase documents
You get The house, in your name. Our 2% acquisition fee is paid at this point.
04
Design and planning
Month 1

We turn the appraisal into a final room layout that meets licensing standards, and get any approvals the conversion needs.
We handle
- Drawings and room layout
- Planning applications, where needed
- Fire safety and licensing requirements
You decide
- Sign off the final layout and specification
You get An agreed plan and build budget before any work starts.
05
The build
Months 1–5

A fully managed conversion: extensions, new bathrooms, kitchen and finishes. You don't need to visit site or deal with builders.
We handle
- Appointing and managing contractors
- Quality and cost control
- Building control and safety sign-offs
You decide
- Fund the works in agreed stages
- Approve any changes to the budget
You get Regular progress updates with photos.
06
Furnish and let
Month 5

We furnish every room, advertise and fill the house with vetted professional tenants.
We handle
- Furnishing and final dressing
- Marketing, viewings and tenant checks
- Tenancy agreements and the HMO licence
You decide
- Nothing day to day. We report back as rooms let
You get A finished, fully let HMO.
07
Refinance and manage
Month 5–6 onwards

With the house finished and let, it is revalued as an HMO. A long-term mortgage repays the bridging loan and releases part of your cash.
We handle
- The revaluation and mortgage application
- Repaying the bridging loan
- Ongoing tenants, repairs and compliance
You decide
- Choose the mortgage deal
- Whether to start your next project
You get Cash back from the refinance, then monthly rent and statements. Our 2% management fee is the only ongoing cost from us.

The timeline

Six months, at a glance.

A typical project from the day we complete on the house. Sourcing comes before this and depends on finding the right deal.

Stage

M0M1M2M3M4M5M6

Purchase

Design and planning

The build

Furnish and let

Refinance

Illustrative. Timings vary with planning, the size of the build and lender processing times.

Your money, stage by stage

When cash goes in, and when it comes back.

No surprises. Here is how the funding typically works at each point in the project.

Typical structure, not a quote

At purchase25%
Your deposit, plus stamp duty, legal fees and our 2% acquisition fee. A bridging loan covers the other 75% of the price.
During the buildStages
You fund the works in agreed instalments as the build progresses, never all up front.
At refinancec.80%
A long-term mortgage of up to around 80% of the new HMO value repays the bridging loan, and the rest comes back to you.
Every month afterc.25%
Rent from every room, after the mortgage, running costs and our 2% management fee. That's a c.25% target return a year on the cash left in.

Acquisition fee2%Paid once, at purchase

Management fee2%Ongoing

Share of your deal0%The property and profit stay yours

Capital at risk. Returns are targets, not guarantees. Values and rents can fall, and refinance amounts depend on the valuation and lender. See important information.

Start with step one.

Book a free 30-minute discovery call. No obligation, and you'll come away knowing whether an HMO project makes sense for you.

Book a call

Projects

Some deals we've delivered.

Every project starts as an ordinary house and finishes as a fully let, compliant HMO. Tap a project to see the rooms and the numbers.

Want a project like this?

Book a call

The guide

HMOs: what's it all about?

What an HMO is, why it could make your money work more than four times as hard as a savings account or a normal buy-to-let, and how we do all the heavy lifting for you.

Compare the returns

5×a savings account

5×a London buy-to-let yield

2.5×the S&P 500's long-run average

Compared with Lera's c.25% target. Capital at risk. Targets and examples are not guaranteed, and past results are not a guide to future returns.

The basics

What is an HMO?

A house in multiple occupation is a home rented to three or more people who aren't from the same household and who share facilities like the kitchen. Instead of one family renting the whole house, each tenant rents their own room.

The HMOs we build are aimed at young professionals. Every room has its own en-suite shower room, the kitchens are shared, and bills are usually included, so tenants pay one simple monthly amount.

6 rooms × c.£1,000= c.£6,000 a month

A typical Lera six-room layout, based on our Greenford UB6 project.

Small HMO: 3–4 tenants. Often allowed without planning permission, unless an Article 4 direction applies.
Large HMO: 5 or more tenants. Needs a mandatory council licence, and usually planning permission.
What tenants get: A furnished en-suite room, shared kitchens, bills included and a flexible tenancy.

The difference

Same house, two ways.

The clearest way to see why HMOs work is to compare one house let two different ways.

Single family letc.£2,500 a month · c.£30,000 a year

Six-room HMOc.£6,000 a month · c.£72,000 a year

2.4×the rent from the same house

HMO rent from the independent valuation of our Greenford UB6 project. Single-let rent is a typical 3-bed listing in UB6. HMOs also have higher running costs, covered below.

Where your money works hardest

What £100,000 could earn in a year.

The same £100,000, four different ways. With a Lera HMO, it could work more than four times as hard as in a savings account or a typical London buy-to-let, though with more risk.

Savings accountBest rates c.4–5%

c.£5,000

5×

London buy-to-letAverage gross yield 5.0%

c.£5,000

5×

S&P 500 index fundLong-run average c.10% a year

c.£10,000

2.5×

Lera HMOTarget c.25% cash on cash

c.£25,000 a year

★

Multipliers compare each option with Lera's c.25% target. Savings: best UK rates, October 2026. Buy-to-let: average London gross yield, before costs (Benham and Reeves, June 2026). S&P 500: long-run average total return in US dollars, which varies a lot year to year (Fidelity). Lera: target cash-on-cash return on the money left in after refinance, after costs and our fees, based on the projects featured on this site (25%–26%). Not guaranteed.

Try it yourself

What could your money earn?

Move the slider to your budget and see roughly what it could earn in a year in each option.

Amount to invest£100,000

Uses the same rates as the chart above: savings c.5%, London buy-to-let c.5% gross, S&P 500 c.10% long-run average, Lera HMO c.25% target after costs and fees. Illustrative only, not a forecast or a guarantee.

Follow the money

Where every pound goes.

Three views of the same worked example, using real costs from one of our projects. Hover over a slice to see the figure.

Worked example: six-room HMO bought for £475,000 with £171,250 of works, valued at £830,000 and refinanced at 80%. The same figures as the step-by-step example on our home page. Returns after costs and Lera's fees; not guaranteed.

Side by side

How an HMO compares with the alternatives.

Every option has trade-offs. Here's an honest view of each.

	Savings account	S&P 500 fund	London buy-to-let	Lera HMO
Typical yearly return	c.4–5% interest	c.10% long-run average, swings year to year	c.5% gross yield, less after costs	c.25% cash on cash, after costs and fees
Where returns come from	Interest	Share prices and dividends	Rent and house prices	Rent by the room, house prices and value created by the conversion
Your time	None	None	Tenants, repairs, compliance	Approve the deal, we do the rest
A real asset you own	No	No, you own shares	Yes	Yes, a London house
Get your cash back	Quickly	Sell any working day	Slow, sell the house	Most of it at refinance, the rest on sale
Main risk	Inflation eats the return	Market falls	Empty months and rate rises	Build costs, valuation, rates and regulation

The heavy lifting

You invest. We do the rest.

An HMO earns more because it takes more work: finding the right house, planning, building, licensing and letting. That work is exactly what we do, so you get HMO returns without becoming a developer or a landlord.

Your part3 things

Agree your budget and goals
Approve the deal
Receive the income

Our partEverything else

Area research
Finding the house
Full appraisal
Negotiating
Bridging introductions
Solicitors and surveys
Planning and Article 4
Layout design
Building regs
Managing the builders
Weekly photo updates
Fire safety
HMO licence
Furnishing
Certificates
Photography
Finding tenants
Management set-up
Revaluation
Refinance support

c.5–6 monthsfrom purchase to fully let

0%of your deal taken by us

2% + 2%acquisition and management fees, already in the c.25%

Why invest

Why HMOs make a great investment.

01

Much higher rental income

Letting by the room produces far more rent than letting the whole house, which is what makes returns of around 25% cash on cash possible.

02

Income from several tenants

With six tenants, one empty room doesn't stop your income. In a single let, one void means no rent at all.

03

Strong tenant demand

High rents in London mean many young professionals rent a room rather than a whole flat. A quality en-suite room close to transport lets quickly.

04

Value you create

Converting a house adds rooms, en-suites and income. Lenders value HMOs on what they earn, so a good conversion can be worth much more than it cost.

05

Cash you can recycle

Once the house is revalued, a refinance can release much of your original cash, ready to fund the next project and grow a portfolio.

06

A real, physical asset

Your money is in bricks and mortar in London, an asset you own outright, not a share of someone else's fund.

Value created

How a conversion adds value.

Our Enfield N9 project shows the effect. Buying the house and converting it cost less than the house was worth once it was finished and let.

See the Enfield project

Works £165kPurchase £480k

£645kTotal cost

+£185k

£830kValued at

Know the risks

What to watch out for, and how we handle it.

HMOs earn more because they take more work to get right. These are the main things to know.

Licensing and regulation

Large HMOs need a council licence, with rules on room sizes, fire safety and facilities.

Lera: we design every layout to the council's standards and handle the licence application.

Planning and Article 4

Some areas restrict HMOs, and larger ones need planning permission.

Lera: we check planning before we put forward any house.

More management

More tenants means more lettings, more queries and shared spaces to look after.

Lera: we set up professional management so you don't take the calls.

Higher running costs

Bills, furnishing, cleaning and compliance cost more than in a single let.

Lera: every return we quote is after these costs and our fees.

Specialist finance

HMOs need lenders and valuers who understand them, and rates can change.

Lera: we introduce brokers who specialise in HMO bridging and refinance.

Returns aren't guaranteed

Values, rents and interest rates can move against you.

Lera: we build in contingency and only bring you deals that work on cautious numbers.

Ready to make your money work harder?

Book a free call and we'll show you how a project would work with your budget.

Book a call

About Lera

We build portfolios the way we'd build our own.

Lera Real Estate is for investors who can see the value in property but don't have the time to create it themselves.

Our story

Built on HMOs, because the numbers work.

We focus on one thing: converting houses into high-quality HMOs. Letting rooms individually produces far stronger income than a single let, and a well-planned conversion adds value that can be released through a refinance.

Doing that well takes local knowledge, a firm grip on planning and licensing, and a team that delivers on budget. That's what we bring, so our investors get the returns without the learning curve.

Every house we take on is finished to the same standard, valued up at refinance and let room by room. Our investors see the work at every stage and the real numbers at the end, and they come back to us for their next project.

Finished shared kitchen at our Enfield N9 project

Enfield N9, completed June 2026

Lera at a glance

Many projects delivered
HMO conversions across London, each one bought, converted, let and refinanced. Greenford, Harrow and Enfield are just a few of the projects we show here.
High-quality finishes
En-suite rooms, fitted kitchens and full fire safety, finished to the same Lera standard in every house.
Strong project returns
25% to 26% cash on cash on the projects featured here, after costs and our fees.
Investors who come back
Our investors return for their next project. One has completed three with us and is now on their fourth.

Past results are not a guide to future returns. Capital at risk.

Akiva SolomonFounder

Meet the founder

Akiva Solomon.

An experienced property investor who put his own money in first.

Before Lera, Akiva invested his own funds in real estate. He has done every stage himself: finding the right house, making sure the numbers stack up, running the conversion, letting the rooms and refinancing to bring his capital back out.

Now he does the same for Lera's clients. Every deal we bring you is appraised the way Akiva appraises his own, and delivered by the same trusted team, so you get an investor's eye on your money, not just a service.

Away from property

Akiva loves football and tennis, and is always happy to talk sport as well as property.

Book a call with Akiva

How we work

What you can expect.

Aligned with you

We take no share of your deal. The property and its profit stay 100% yours.

Numbers first

Every deal comes with a full appraisal. If it doesn't stack up, we don't bring it to you.

Compliance built in

Planning, licensing and fire safety are designed in from day one.

Clear communication

Weekly updates during the build and one point of contact throughout.

Our track record

Our results, shown in the open.

We don't ask you to take our word for it. The projects we feature here are shown with their real numbers: what went in, what came back out and what it earns each year.

Cash on cash, featured projects Click a project to see it

c.25% target

Capital at risk. Targets and examples are not guaranteed, and past results are not a guide to future returns.

Good-quality projects
Every house is finished to the same Lera standard: en-suite rooms, fitted kitchens, full fire safety and HMO certification. Each project page shows the work phase by phase, photo by photo.
Returns we've achieved
The projects featured here returned 25% to 26% cash on cash, in line with the c.25% we aim for. Each one is shown with its real results. Past results are not a guide to future returns.
Delivered to budget and timeline
You get a full costed appraisal before you commit. We put the works out to tender, agree prices up front and manage the build closely to keep each project on budget and on programme.
An expert team
Builders, architects, solicitors, brokers and letting agents we've worked with project after project, led by a team that lives and breathes HMOs.
High-quality HMO deals
We only bring you houses that pass our checks on planning, room sizes, local rents and end value, so every deal starts on solid ground.

Let's talk about your first project.

Book a call

Article 4 map

Do you need planning for an HMO?

An Article 4 direction takes away the right to turn a family house into a small HMO without planning permission. Search a postcode, town or council to see if one applies.

Search a postcode to see it on the map.We'll show the council boundary, any HMO Article 4 areas and exactly where your postcode sits.

No Article 4Small HMOs are usually allowed

Turning a house into an HMO for 3 to 6 people is normally permitted development. You still need a licence for 5 or more people.

Article 4 in forcePlanning permission needed

Any HMO needs planning permission, even a small one. Allow around 8 to 13 weeks and a planning fee, and the council can refuse.

7 people or moreAlways needs planning

A large HMO is "sui generis", so it needs full planning permission wherever it is, Article 4 or not.

London

Borough by borough.

Whole borough
Parts of the borough
Proposed
None found

A simplified map: each square is a borough, placed roughly where it sits in London. Tap one to see its rules.

Anywhere in England

Search any council.

Search councils

Wales

Wales has its own rules: turning a house into an HMO usually needs planning permission everywhere, so there's no need for Article 4.

Scotland

No Article 4 system. Every HMO needs a licence, and some councils also need planning permission, so check with the council.

Northern Ireland

Different planning and licensing rules apply. Check with the council before you buy.

Last checked 29 October 2026 against council notices and published lists of HMO directions. Directions change often and many cover only part of an area, so always check the exact address on the council's own Article 4 map before you buy. This is a guide, not legal advice.

Found a house? Run the numbers.

The HMO full calculator checks Article 4 for you and allows for planning in the timeline and costs.

Open the HMO full calculator

FAQs

Your questions, answered.

What investors ask us most before starting an HMO project. Can't find yours? Ask us directly.

HMO basics

What is an HMO?

A house in multiple occupation is a property let to three or more people from more than one household who share facilities such as the kitchen. Each tenant rents their own room, usually with an en-suite, which is why HMOs earn more than a single family let.

Do you buy existing HMOs?

No. We find ordinary houses that are suitable for HMO conversion and convert them. Creating the HMO is what adds the value that lets you refinance and pull most of your cash back out.

Does an HMO need a licence?

In England, an HMO with five or more tenants from two or more households needs a mandatory licence from the local council, and some councils license smaller HMOs too. We handle the application and make sure the property meets the council's standards.

What is Article 4, and does it matter?

Normally a family house can become a small HMO without planning permission. Where an Article 4 direction applies, planning permission is needed. Larger HMOs need planning everywhere. We check this before putting forward any property.

Money and fees

What return can I expect?

Our projects target a cash-on-cash return of circa 25%: your yearly profit after all costs, divided by the cash left in the deal after refinance. That figure already includes our fees. Results depend on the property, interest rates and the refinance valuation, and returns are not guaranteed.

How do your fees work?

We never take a percentage of your deal. The property and its profits are 100% yours. We charge a 2% acquisition fee on the purchase price and a 2% management fee on the property's valuation after the works, and both are included in the returns we quote.

When we put the building works or the bridging finance out to tender, the quotes we receive include an arrangement fee payable to Lera. The conveyancer, mortgage broker, and letting and management company we introduce may also pay us an arrangement fee. These are already built into every price, figure and illustration we show you, so there are no extra costs on top.

How much money do I need?

On our recent six-bedroom project, the investor needed around £225,000 to complete the deal, and around £100,000 remained in it after refinance. We'll give you exact figures for each deal before you commit.

How is the purchase financed?

Usually with a bridging loan covering around 75% of the purchase price plus the build works. Once the house is converted and let, it's revalued and refinanced onto a long-term mortgage, which repays the bridge. We introduce you to brokers who arrange this.

Can I buy through a limited company?

Yes, many investors do. Whether it suits you depends on your tax position, so speak to a property accountant first. We can work with either structure.

Is my money at risk?

As with any property investment, your capital is at risk. Values can fall, costs and interest rates can rise, and rooms can sit empty. We reduce the risk with careful deal selection, managed builds and contingency in every budget, but we can't remove it. Take independent financial advice if you're unsure.

Working with us

How long does a project take?

Around 5–6 months from purchase to a completed, fully let HMO. Finding the right house comes first and depends on the market.

How involved do I need to be?

As little as you like. You approve the deal and sign off key decisions, and we keep you updated. Most investors never need to visit site, though you're always welcome.

Do I need to live near the property?

No. We invest where the numbers work and manage everything on the ground.

Who manages the tenants afterwards?

The property is professionally managed, covering tenants, bills, cleaning and maintenance. You receive the rental income and a monthly statement.

Referral programme

Refer someone. Earn 10%.

Introduce a friend, client, colleague or relative to Lera. For every property they do with us, we'll pay you 10% of our fees.

Refer someone now

Who can you refer?

Anyone who'd like their money working harder.

How it works

Three simple steps.

1
Introduce them
Fill in the form below, or simply CC us into an email with them on info@lera-realestate.com.
2
We take it from there
We'll reach out, book their free strategy call and look after them from the first conversation.
3
You get paid
For every property they do with us, we pay you 10% of our fees. Refer them once, earn on every deal.

What could you earn?

One introduction, paid on every property.

On a typical project like our worked example, Lera's fees come to about £26,100: 2% of a £475,000 purchase plus 2% of an £830,000 valuation. Your 10% would be around £2,610 for that one property.

The 10% referral fee is based on the fees the client pays us: the 2% acquisition fee and the 2% management fee. It does not include any arrangement fees we may receive when we go out to tender with conveyancers, brokers, contractors or other providers. Referral fees are paid by Lera out of our own fees, so they never add to the client's costs.

Illustrative example only. Actual fees depend on each property's purchase price and valuation.

Properties your contact does with us1

You could earn around£2,610

The quickest way

Just CC us into an email.

Send your contact a quick email introducing us and copy us in. We'll take it from there and make sure you're credited for the referral.

CC this addressinfo@lera-realestate.com

HMO blog and articles

Straight answers about HMO investing.

Plain-English articles on how HMOs work, the rules, the money and running a house well, from the team that builds them.

Free guide

Want it all in one place?

Download our free 41-page guide, HMOs In & Out.

Get the free guide

Free guide

HMOs In & Out: the free guide.

Thinking about HMOs? Our free 41-page guide shows how they work before you invest a penny, with real projects and real numbers. Add your name and email to download it now.

What an HMO is, and why it can earn more than a standard buy-to-let
The licensing and planning rules to know before you buy
How the numbers work, from purchase to refinance
How to get started, step by step

Free HMO resources

Learn it. Run it. Own it.

Free calculators, checklists, a 41-page guide and straight-talking articles for HMO investors. No sign-up needed.

Take the 2-minute quiz Open the calculators

5calculators
4checklists
41page guide
45terms explained

Try it now

Quick deal check

What could a six-room HMO earn you?

Rent per room Mortgage rate

Profit a year

Cash on cash

Open the full calculator

Based on our standard deal: £475k purchase, £162k works, six rooms in outer London, valued on the rent. Illustrative only.

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5 calculatorsThe HMO toolkitNew: the HMO full calculator. Plans, timeline, costs and your return, emailed as a PDF.Open →

2 minutesIs an HMO right for me?Eight questions, one honest answer.Start →

Free PDFHMOs In & Out41 pages. Download free.Download →

4 checklistsChecklistsViewing, buying, compliance, tenants.Open →

MonthlyThe HMO BriefOne email a month. Five minutes.Subscribe →

12 articlesArticlesLicensing, planning, tax, finance.Read →

A to ZGlossary45 terms in plain English.Look up →

7 stagesHow a project worksFrom first call to first rent.See it →

Worth coming back for

This month.

The number£932Average London room rent, Q3 2026. A whole home costs £2,332.From issue 1 of The HMO Brief →

The HMO Brief

Stay ahead, once a month.

One number, one rule change, one real deal and one thing to do.

The free HMO toolkit

Run the numbers before you buy.

Start with the HMO full calculator: plans, timeline, every cost and your return, with an Article 4 check built in. Free, no sign-up.

Your plan –cash on cash –profit a year–rooms–build months Add the price, house type and location to begin

Two-minute quiz

Is an HMO right for me?

Eight quick questions. One honest answer, even if it's "not yet".

Bay-window bedroom, Enfield N9

Question 1 of 8

A rough guide, not financial advice. Your capital is at risk with any property investment.

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HMO glossary

HMO terms, made simple.

45 terms, in a sentence or two each.

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The HMO Brief

The HMO market, in five minutes a month.

One number. One rule change. One real deal. One thing to do. Free, in your inbox.

01The numberOne figure that shows where the market's heading.

02The ruleWhat's changed, and what to do about it.

03The dealA real project with its real figures.

04One thing to doA single action for the month ahead.

Read a sample

Issue 1, October 2026.

The HMO BriefIssue 1 · October 2026

01 · The number

£932/month

The average London room rent (SpareRoom, Q3 2026), against £2,332 for a whole home (ONS, August 2026). A tenant saves around 60% by renting a good room, which keeps demand for well-run en-suite HMOs strong.

Whole home£2,332

One room£932

02 · The rule

Six months of the Renters' Rights Act

Every tenancy is now periodic, Section 21 has gone, and rent can rise only once a year by formal notice. Rent repayment orders can reach 24 months' rent. Next up: the landlord database. Our full explainer →

03 · The deal The rear extension at our Enfield N9 project

Enfield N9: Victorian terrace to en-suite HMO

Purchase£480k

Works£165k

Valued at£830k

Left in£98k

Net a year£25k

Cash on cash25.5%

See the project →

04 · One thing to do

Check the Article 4 map first

Before viewing any house for an HMO, check the council's Article 4 map for the exact address. How Article 4 works →

Contact

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Step by step, from first call to first rent.

What happens, and who does what.

Discovery call

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You decide

Sourcing and appraisal

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Purchase

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Design and planning

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The build

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Furnish and let

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Refinance and manage

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Six months, at a glance.

When cash goes in, and when it comes back.

Start with step one.

Some deals we've delivered.

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HMOs: what's it all about?

What is an HMO?

Same house, two ways.

What £100,000 could earn in a year.

What could your money earn?

Where every pound goes.

How an HMO compares with the alternatives.

You invest. We do the rest.

Why HMOs make a great investment.

Much higher rental income

Income from several tenants

Strong tenant demand

Value you create

Cash you can recycle

A real, physical asset

How a conversion adds value.

What to watch out for, and how we handle it.

Licensing and regulation

Planning and Article 4

More management

Higher running costs

Specialist finance

Returns aren't guaranteed

Ready to make your money work harder?

We build portfolios the way we'd build our own.

Built on HMOs, because the numbers work.

Many projects delivered

High-quality finishes

Strong project returns

Investors who come back