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Hello everyone,   I am looking to buy my first investment property and have been looking at HMOs; however,  I live in Lancaster where I do not think there will be as much demand,  I have considered other areas but this would require the use of a management company - should I be wary of fees?  Any general advice about starting out in property/ HMOs/ hints and tips would be extremely appreciated!

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Hi Oliver,


Welcome and congratulations on taking your first steps into investment.


Great that you are looking locally and to areas close by, is always a bonus to know your area well and have easy access to your property. May I ask why do you think there isn’t much demand for HMO in Lancaster? 


With Management fees, you will have fees with any agent you go through so just shop around a little and compare prices to what is best for you. 

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