The HMO Podcast

How much of your HMO rent do you actually get to keep?

It’s easy to look at the monthly rent, deduct the mortgage and bills, and assume everything left over is profit. But the reality is there are dozens of other costs that can impact the long-term performance of a HMO.

In this episode, I break down the real costs of running a HMO in 2026, covering around 60 different expenses across 12 categories. From voids, reletting and utilities to compliance, maintenance, refinancing, management and tax, I’ll help you understand what really needs to be factored into your numbers.

With costs rising and new legislation introducing additional expenses, accurately appraising your deals has never been more important.

🎯 What You'll Learn

• The hidden costs that can eat into your HMO profits
• How much to allow for voids, arrears and tenant changeovers
• The ongoing costs of utilities, cleaning, gardening and maintenance
• HMO licensing, safety certificates and other compliance costs
• The true cost of financing and refinancing a HMO
• Management, legal, insurance and professional fees you need to consider
• Why you should appraise your HMO over 5, 10 and 15 years, rather than focusing only on day-one returns

Whether you're appraising your next HMO or reviewing the performance of an existing portfolio, this episode will help you build a much more realistic picture of what your HMO is actually costing you, and what you really get to keep.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

It’s been a busy, challenging and exciting few months across my property businesses.

In this episode, I’m giving you an honest update on exactly what’s been happening behind the scenes. From development projects and difficult tenants to refinancing, new purchases and why I’m shifting my focus back towards high-yielding HMOs.

I also share some of the challenges we’ve faced, including getting a major development back on track after our contractor went into liquidation, dealing with significant tenant arrears and preparing for a difficult refinance.

🎯 What You'll Learn

• Why I’m shifting my focus back towards high-yielding HMOs
• What I’m seeing in the property market right now
• How we recovered after a contractor went into liquidation
• The realities of refinancing in the current lending market
• How I’m dealing with a tenant owing around £15,000 in rent
• How AI is changing the way we operate across my businesses

If you want to know what I’m buying, where I’m focusing my attention and how I’m approaching the rest of 2026 and beyond, this episode will bring you completely up to speed.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

The mortgage market has shifted quickly in recent weeks, with rising swap rates, changing lender pricing and wider economic uncertainty creating another challenging environment for HMO investors.

In this episode, I sit down with our specialist mortgage broker Ellie Broadhurst to unpack what's happening in the lending market right now, how the Renters' Rights Act is starting to affect some HMO valuations, and what investors need to consider when buying or refinancing in today's market.

🎯 What You'll Learn

• What's driving the recent rise in HMO mortgage rates
• Why some lenders are increasing rates while others remain competitive
• How the Renters' Rights Act could affect HMO valuations and refinancing
• How to prepare for a refinance and avoid unnecessary delays
• What the lending and property market could look like heading into 2027

If you're buying a HMO, approaching a refinance or planning your next project, this episode will give you a practical insight into what's happening in the mortgage market, the risks to be aware of and how to position yourself for the opportunities ahead.

Book a Call with Ellie here: https://thehmoroadmap.co.uk/hmo-mortgage-finance/

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and drop a quick review on Apple Podcasts or Spotify - it helps more investors find the show!

£10,000 per month in net income is a common goal for HMO investors, but very few people actually break down what it will take to get there.

In this #Rewind episode, I break down a simple exercise I use with my mentees to reverse engineer that target, looking at how many properties you might need, the equity you’ll need to create and why adding value is such an important part of building and scaling an HMO portfolio.

🎯 What You'll Learn

• How to reverse engineer your HMO income target
• How many rooms and properties £10,000 per month could require
• Why creating equity is essential when scaling
• The importance of finding opportunities to add value
• How your location and strategy can affect the numbers

If you’ve set yourself a financial target from HMOs, this episode will help you understand what it could actually take to get there and where you need to focus your efforts.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

Is HMO investing still worth it in 2026, and what do you actually need to know before getting started?

In this episode, I’m on the other side of the mic as Ant Lyons from YPN Magazine puts me through my A–Z of HMO investing, covering everything from what makes a good deal and how to fund one, to Article 4, location, management, compliance and the mistakes that can quickly turn a promising project into an expensive one.

I also share how my own approach to investing has changed over the years and what I would do if I were starting again today with £100,000.

🎯 What You'll Learn

• What I look for in a good HMO deal in 2026
• Whether you need lots of money to get started
• How to choose the right location and project
• What Article 4 really means for HMO investors
• The costs and risks new investors often underestimate
• What to look for when outsourcing HMO management
• The planning and licensing traps you need to avoid
• What I would do differently if I were starting again today

Whether you’re considering your first HMO or already building a portfolio, this episode gives you a practical overview of what HMO investing really looks like in 2026.

You can find more of my interviews, articles and expert resources on my YPN Expert Hub here.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and drop a quick review on Apple Podcasts or Spotify - it helps more investors find the show!

Should you manage your own HMOs, or pay somebody else to do it?

It’s one of the most common questions HMO investors ask, and the decision is often based on one thing: how much money you could save by self-managing.

But after nearly 20 years of investing in and managing HMOs, I can tell you there’s far more to consider than the management fee.

In this episode, I break down what managing an HMO actually involves, the pros and cons of doing it yourself versus outsourcing, and the real cost of management when you factor in your time, attention and responsibility.

🎯 What You'll Learn

• The difference between being an investor and a property manager
• What actually goes into managing an HMO day to day
• The time, stress and responsibility involved in self-management
• How management fees compare with the true cost of doing it yourself
• The key questions to ask before deciding which route is right for you

If you’re currently self-managing your HMOs, or wondering whether you should, this episode will help you weigh up the options and make a properly informed decision.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

Some properties look like great HMO deals on paper, but there are certain problems that no amount of negotiating, refurbishing or clever deal structuring can fix.

In this episode, I break down the types of properties I think HMO investors should avoid, or at the very least approach with a great deal of caution, and explain why some of these seemingly attractive opportunities can become very expensive mistakes.

🎯 What You'll Learn

• The lending risks of non-standard construction and spray foam
• Why shared ownership can be problematic for HMOs
• How covenants and lease clauses can restrict your plans
• Why existing HMO licences can be misleading
• The risks of listed buildings and flood zones

If you’re currently sourcing or appraising your next HMO, this episode will help you spot some of the red flags before they become very expensive problems.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

Most HMO investors spend thousands getting a property finished, but when it comes to the things tenants actually see, the budget has often disappeared.

In this episode, I’m joined by Sammie and Adam Wale from Aben Interiors, HMO investors and specialists in HMO property staging, photography and videography. We explore why presentation matters more than ever and how getting those final details right can help you achieve higher rents and fill your rooms faster.

We also share real examples of projects achieving rents 15% to 24% above market rates and discuss why professional photos and videos can become some of your most valuable marketing assets.

🎯 What You'll Learn

• Why HMO presentation matters more in today’s competitive market
• How staging can help tenants connect with your property
• Why professional photos and videos are worth the investment
• How better presentation can increase rents and reduce voids
• Where AI can help with HMO design and where it falls short

If you’re developing an HMO or have another project coming up, this episode will show you why the project doesn’t end when the builder hands back the keys, and why those final touches could be some of the highest ROI investments you make.

Learn more about Sammie and Adam’s property staging services here: https://thehmoroadmap.co.uk/hmo-property-staging 

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and drop a quick review on Apple Podcasts or Spotify - it helps more investors find the show!

How much does it actually cost to refurbish an HMO?

It’s one of the most common questions I get asked, and unfortunately, there isn’t one simple answer.

The cost depends on the scope of the project, the specification you’re aiming for, where you’re investing and, importantly, whether you’ve accounted for everything that actually sits inside a refurbishment budget.

In this episode, I break down how I think about HMO build costs and give you a practical way to put a credible number against a project before you’ve even spoken to a builder.

🎯 What You'll Learn

• The two biggest factors that drive HMO refurbishment costs
• What you need to include when building your refurb budget
• Current build-cost benchmarks for light, moderate and heavy refurbs
• What nearly 40 real HMO projects have actually cost our members
• How professional fees, VAT and contingency can affect your final budget
• How to sense-check your numbers and builders’ quotes 

Getting your refurb numbers wrong by £5,000, £10,000 or £20,000 can completely change whether a deal stacks up, and potentially how much you should be paying for the property in the first place.

The goal isn’t to predict your build cost perfectly from day one. It’s to understand your scope and spec, use the right benchmarks, account for the costs that are often missed, and get your initial estimate as close to reality as possible.

If you’re appraising an HMO conversion or planning your next refurbishment, this episode will help you approach your numbers with a lot more confidence.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and drop a quick review on Apple Podcasts or Spotify - it helps more investors find the show!

Most aspiring property investors don't struggle because they lack knowledge.

They struggle because they never make the leap from learning to actually doing. They've read the books, listened to the podcasts, invested in education, but still haven't completed their first HMO project.

In this episode, I'm joined by Dr. Michael Taylor, better known as ThePropertyGP. After building a £2 million HMO portfolio in under two years while working as a full-time GP, Michael has helped countless first-time investors bridge what he calls the "execution gap."

Together, we explore why so many investors get stuck, the common obstacles holding them back, and how the right support can help you complete your first profitable HMO with confidence.

🎯 What You'll Learn

• Why education alone isn't enough to become a successful HMO investor
• The biggest reasons aspiring investors get stuck before completing their first deal
• How to overcome fear, overwhelm, and the "what if?" mindset
• The importance of building the right power team around your project
• Real-life examples of first-time investors who have successfully completed profitable HMOs

If you've been thinking about investing in HMOs but haven't taken that first step yet, this episode will help you understand what's holding you back and, more importantly, how to move forward with confidence.

👉 Learn more about Michael's Blueprint programme and book a strategy call here.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and drop a quick review on Apple Podcasts or Spotify - it helps more investors find the show!