Frequently Asked Questions
Look below to see a number of our most frequently asked questions to see if they can help you with your investment needs. Otherwise do not hesitate to contact us.
HMO Housing falls under C4 of the Use Class Act i.e. Houses in multiple occupation, which is defined as small shared houses occupied between three and six unrelated individuals, as their only or main residence, who share basic amenities such as a kitchen or bathroom. Certain councils need planning approval where article 4 is in operation. Salford, Manchester, Birmingham and Leeds councils require one of these, but Bolton and Liverpool councils don’t. Therefore you do not need planning permission to convert a Use Class C3 (Family Dwelling) to become Use Class C4 if Article 4 is not in operation. However if you want to convert a house into a HMO with more than 6 beds then this falls under the Sui Generis Use Class which will require planning permission.
Letting properties is one of our key areas of expertise and we have a very high occupancy rate. Because we select our properties carefully and in the right area we are able to maintain this high success rate.
The net rental figure is calculated by taking the gross rental figure and then taking into account associated costs such as agency fees, insurance, maintenance and repairs and so on.
One which has been refurbished to a high specification with regards to furniture and white goods. Newly renovated student houses which include all the necessary features and equipment such as TV and broadband and with bills inclusive. Ideally investment properties should be located close to major Universities and managed by a HMO specialist.
Mistoria started in 2009 and we have been expanding ever since. Our first office was in Eccles before we move to a larger building in Salford. We now have offices across the North West including Salford, Liverpool, Manchester, Bolton and Cheadle.
Gross rental is calculated by taking the weekly or monthly rental and multiplying by 52 or 12 respectively.
Gross rental yield is this figure divided by the property purchase price and then multiplied by 100 to give a percentage.
Find out more about our latest investment opportunities
We are constantly bringing new properties to market so if you are looking to invest, please
drop us a line and we can talk you through what we have available.