Experts At Managing HMOs As Well As Single Lets
The work involved in managing an HMO, as you will know if you own one, is considerably higher than managing a single let since you’re managing more than one tenancy agreement and usually more tenants. Also the knowledge to find and vet tenants is more specialised, due to the fact that tenants are more likely to move-on.
Rather than using the traditional websites to find tenants, such as Rightmove – we use more specialised sites like Spare Room and a variety of social media channels. We also ask for smaller bonds, since the tenant is only responsible for their room and also to reduce the cost of moving-in. Furthermore we offer shorter tenancies, this allows us to find tenants more quickly.
Our management and rental teams again will deal with any issues and queries from the tenants.
We have several payment solutions – direct debits and recurring card payments and so can tightly manage our rental accounts, which keeps arrears to a minimum. This is often a greater issue in HMO’s.
We manage profitable HMO’s all over Lincolnshire. We find our ability to closely manage rental accounts and maintenance issues, means we are able to manage the extra time and cost involved. We charge 10% + VAT for HMO management.
If you currently have a HMO or are looking to source your first or next HMO we are here to assist every step of the way from checking a properties eligibility in line with current HMO licensing legislation all the way through to creating 3D plans ready for conversion, assisting with Furniture package suppliers and contractors who can assist with the conversion.
If you have queries about how we would manage your HMO or find you a tenant, do not hesitate to contact us.