The conversation around HMOs is changing and much of that shift is being driven by landlords who understand that shared living is about more than just rooms and rent. In our latest episode of The Podcast, Vann Vogstad, Founder & CEO of COHO, breaks down what really makes a successful HMO landlord.
For landlords and investors focused on HMO’s, the biggest opportunity isn’t just yield, it’s tenant experience.
The 6,000 tenant survey that challenges HMO assumptions
COHO released a 6,000-tenant survey, the largest of its kind in shared living. The findings challenge the common assumption that HMO tenants are purely price-driven.
Over 50% of respondents said they would pay more rent to live in a house that was socially compatible. In fact, many stated they would happily pay up to 10% more for the right housemates.
That data changes the conversation around HMO investing.
It suggests that tenant compatibility, community and shared values are not “nice to have” extras, they directly influence rental performance, retention and overall portfolio strength.
The problem with how most HMOs are designed
In the HMO sector, landlords typically focus on two areas:
- The economics of the property
- The physical design and finish
Both matter. But what’s often overlooked is the experience.
The landlords leading the market are thinking from the end user’s perspective. They’re asking:
- Who is this house for?
- What kind of people will live well together?
- How can the environment support connection rather than conflict?
This shift in thinking has commercial implications. When tenants feel aligned with the people they live with, voids decrease, conflicts reduce and tenancies last longer. That stability translates into stronger long-term returns.
What successful HMO landlords are doing differently
High-performing HMO landlords maintain consistent quality standards,not just in décor or compliance, but in how the house functions socially.
They understand:
- Compatibility reduces churn
- Experience improves reputation
- Higher standards attract better tenants
- Better tenants protect long-term asset value
The most successful landlords aren’t competing purely on price. They’re competing on environment and culture within the property.
How COHO is improving tenant compatibility
This is where COHO plays a role in the HMO ecosystem. The platform focuses on improving compatibility within shared homes by allowing tenants to present who they are, interests, lifestyle, personality, rather than reducing them to age and gender filters.
Why this matters for the future of HMOs
The UK housing market continues to face pressure from affordability challenges, rising costs and increasing tenant expectations. Shared living is not a fringe model, it’s a growing and evolving part of the rental sector.
For landlords who want to build resilient HMO portfolios, the competitive edge may not come from squeezing costs, but from designing properties around human behaviour.
Understanding tenant psychology, compatibility and experience isn’t just good ethics, it’s smart business.
Watch the full interview with Vann to learn more about improving tenant experience.
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