You may find HMO’s a more attractive investment as they have the potential to offer you higher rental yields in comparison to single-let properties. That said, HMO management is much more intensive. Firstly, there are complex regulations that apply to the management of HMO’s that do not apply to single-let properties. Moreover, you should prepare for a higher turnover of tenants and more wear and tear on your property.
As an HMO Landlord you will need to provide high-levels of hands-on involvement to successfully manage your HMO property and remain compliant with legislation. It is for that reason that you may opt for a Letting Agent to assist you with the HMO Management of your property.
What can you expect from our HMO Management service?
If you value your free time, Homemaker Properties can assist you in your HMO management duties. You can expect guidance and recommendations on ensuring your property meets with Private Rental Sector legislation. In particular HMO regulations and the latest local HMO criteria and requirements.
For over 10 years, the Homemaker Properties team have been at the forefront of the Coventry HMO market. As a result, you will receive knowledgable guidance aimed at achieving the maximum return on your investment. If you are looking to invest in Coventry and need guidance on your Investment, you may wish to sign-up to our Property Sourcing service.
You can expect honesty throughout your time working with Homemaker Properties. Starting with an initial valuation of your property, continuing through to ongoing HMO management. You won’t receive an inflated rental price. You will receive a realistic price that should see your property let quickly with a minimal void period.
Your property will receive the maximum coverage possible via market-leading property and room portals. Empty rooms do not provide you with an income. As a result we work hard to get your rooms let to the right tenants. Your proof of this is via our Rightmove Let’s Agreed Statistics. In 2019, Homemaker Properties agreed more lets in Coventry (CV1 – CV6 postcodes) than any other letting agent. In the last 5 years (2015 – 2019), we have been achieved more Let’s Agreed on House Shares than any other agent.
Good tenants is of paramount importance to be successful in HMO Management. All applicants will be fully qualified prior to a viewing. Your prospective tenants will be fully credit and referenced checked. This will allow you to make an informed decision on proceeding with an application.
With the ever increasing amounts of legislation ensuring that your HMO property continues to be compliant needs to be a top priority. An area of HMO Management that is often overlooked. Consequently, Homemaker Properties can assist you in ensuring your HMO meets with regulations.