Many people have different opinions on this subject, in my opinion the answer is yes ! In short this is because hmo properties with nice lounge and communal area’s tend to have a lower tenant turn over rate. Properties with nice lounge areas tend to attract more professional tenants and better quality tenants in terms of the way they take care of the property. These tenants tend to be more social with other tenants using the communal area as a way to share evenings talking about university or their day at work.
In terms of what size you should be aiming for, for your HMO’s communal lounge, ideally, you want something around 10 square meters and above.
We have some HMO’s with communal lounge space and some without but over the long term the ones with communal areas tend to have better tenants with lower turn over rates. These spaces make tenants feel more at home and gives them a chance to not be stuck in their rooms.