General (main property discussion here) - HMO's advice please

I've been thinking about getting into the buy-to-let game and have been really inspired and informed by the contributions here .. but need advice. I've found a property that seems to make sense on yield and so am sorely tempted as it's already let but not only is it for sale at auction (first potential nightmare for a newcomer) but it is also let on a HMO basis. I hadn't even considered this market but reading the pages here it does seem to be the only way to get decent yields at the moment. Could anyone give me a quick run down on the legal/practical position with HMO's.eg do all the tenants have an agreement with the landlord, are there different health and Safety considerations, and are there any other regulations or anything else I have to think about as opposed to a simple single let? I know I could call the letting agent and ask this but don't want to come over as a novice and anyway I trust you lot more.Thanks in advance!

Many differences Jane to traditional buy to let but not necessarily prohibitive.

Actions I would take are:

1. Speak to local council that property is located in. They will tell you all the legal requirements for HMO. Don't worry about being a novice - it is their job and are usually very helpful. 2. Speak to a mortgage broker about finance - there are a few less lenders available to you. 3. Do you live local to the HMO? If not I have found from experience most letting agents don't like to manage HMOs and therefore you may have to manage it yourself

Hope this helps

Russell