HMO Management
Whilst HMO properties can be profitable, it can also prove quite challenging and time consuming as each room represents an individual tenancy. A lot of landlords shy away from HMO’s for this reason to avoid the stress preferring to rent under a single AST to a group of friends or families.
We specialise in renting mid – high end HMOs mainly around zones 1 – 3 in London. But rather than renting the property out as a single let, we rent it to sharers on a room-by-room. We take on full management from start to finish ensuring our landlords can maximise their rental income whilst avoiding the stress of managing a HMO.
Benefits of this service
- Maximise profit
- Hassle free management
- Have access to a larger database of applicants
- Contract directly with tenants
The Process
01.
We will visit the property to inspect the space and condition to establish if it qualifies for our room let management model.
02.
During the visit, we will go over any works that may be needed or anything that can be done to maximise the property’s potential.
03.
We take a mobile recording for the in-house team for further analysis. An email is then sent giving you a breakdown of what can be achieved. If all is agreeable, we send out management contract to be signed.
Our Services
Staging and Design
We will advise you on works and decorations needed to ensure your property stands out from the rest and you are maximising the full potential of your asset.
Professional Pictures
We organise professional pictures and recording to give your property the edge and highlight its best features.
Licensing
We can assist you with HMO license and any works needed such as interlinked fire alarms, fire doors etc making sure your property is fully compliant.
Certifications
We have experienced engineers who can carry out the mandatory safety checks required such as Gas safety, EICR and EPC.
Tenant Acquisition
We advertise your property to our database of potential tenants as well as using traditional forms of advertising to ensure the property is rented quickly.
Referencing & Contract
We reference each tenant to ascertain suitability and draft up relevant contracts.
Deposit Protection
We protect all deposits received from tenants via my deposits using a custodial scheme to make sure you are fully covered.
Rent Collection
We utilise a state-of-the-art payment system to collect rent which automatically logs payments received. It also sends out automated reminders via text and emails for missed payments.
Maintenance
With our dedicated team of contractors, we can take care of any and all maintenance issues to ensure your property is kept in tip-top condition.
Frequently asked questions
Property would have to be within zones 1-3, have 3+ bedrooms and be in vacant possession.
15% inclusive of VAT for Room Let HMO management (bills are typically paid by the landlord on room lets so do take that into account)
10% inclusive of VAT for single Let HMO management
We typically cater to young professionals in their mid to late twenties or early thirties. They work mainly in and around central London usually in demanding jobs. We provide them with a stress-free approach to renting by taking care of the management which includes sorting out the bills, council tax, organising a weekly cleaner and dealing with maintenance issues to name a few. This ensures the property is maintained to a high standard with high levels of tenant satisfaction which leads to low void periods.
The landlord is responsible for the bills but we can set them up and manage them for you. This has been factored into your cost so that it does not affect your net profit projections.
The tenancy agreement would be directly with you and the tenants providing 100% transparency and allowing you to retain control without the hassle.
We use a state-of-the-art payment system which receives the rent and logs it. You have the option of staggered pay (receive the rent as they come in) or a single payment. With the single pay, you choose a payment day, the rent is collected from the individual tenants and combined into a single payment on chosen date.