Looking back at 2020 Edinburgh HMOs
2020 was a very turbulent year for HMO landlords and investors
2020’s bumpy year started with the onset of Covid, followed by March’s lockdown, which lasted over 3 months. The property market re-opened on 29.06.2020 and the pent-up demand resulted in a very busy summer. September brought the usual slow-down, with October being quieter than in previous years.
How did Edinburgh HMO properties fare throughout the year?
Rents per bedroom in most typical HMOs
- 3 bedrooms with lounge: £536 per bedroom.
- 3 bedrooms, no lounge: £440 per bedroom.
- 4 bedrooms with lounge: £600 per bedroom.
- 4 bedrooms, no lounge £512 per bedroom.
October 2020 brought a return of HMO inspections in Edinburgh, initially for new licence applications (i.e. not for renewals). This is very good news for landlords and investors who applied for an HMO licence in early 2020 and have been waiting for HMO, fire service and building standards inspection to obtain the licence.