HMO licenced properties
A house in multiple occupation (HMO) is a property rented out by at least 3 people who are not from one 'household' (for example a family) but share facilities like the bathroom and kitchen. It's sometimes called a 'house share'.
You must have a licence if you're renting out a large HMO in England or Wales.
If you're looking to buy an investment property to use as an HMO, finding one with an existing licence can certainly save you some paperwork.
Even one with a previously active licence that has expired sets the precedent that should make getting a new licence easier.