Newbie From Adelaide (HMO/Rent2Rent)

Discussion in 'Introductions' started by DavidK, 10th Feb, 2021.

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  1. DavidK

    DavidK New Member

    Joined:
    8th Feb, 2021
    Posts:
    2
    Location:
    Adelaide
    Hi all,
    A bit about me.. I am a Credit Analyst working in the commercial equipment finance and rental area who is looking into starting a HMO style business in Adelaide. Already read some extremely helpful information and would be curious to hear any thoughts on anyone in the space and opinions on weather Adelaide has the market for it, as it seems to be predominantly Sydney where this is done. Look forward to chatting and being apart of the forum!
     
  2. thatbum

    thatbum Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,788
    Location:
    Perth, WA
    It might be an unpopular opinion around here, but I actually think the HMO style strategies I've seen are a legal and practical minefield of difficulties, and generally not worth it for the extra rental income gained over 'normal' rentals.
     
  3. DavidK

    DavidK New Member

    Joined:
    8th Feb, 2021
    Posts:
    2
    Location:
    Adelaide
    Thanks for your input. What would you say is the main issue you see with this structure? more so whose liable if there is damage from bad tenants etc?