HMO Letting And Management
HMO (Houses in Multiple Occupation) are becoming increasingly popular for investors due to strong demand and, more importantly, extremely strong returns. HMO properties will usually achieve 3 x higher rental yields than single lets and can provide excellent value accommodation for tenants.
An HMO is any property let to 3 or more tenants forming more than one household. The number of tenants, number of storeys the property has, and local authority rules currently determine whether you need to licence an HMO.
HMO properties do require a great deal more hands-on management than single lets which is why most agents and some landlords shy away from them. They simply do not understand, or have the time to understand, the market and ensure compliance to the large amount of legislation involved.
Oulsnam Lettings understand this type of management along with the rules and regulations surrounding this complex subject, enabling you to purchase these high-return investments that may otherwise have been avoided. We can offer comprehensive advice on the subject and provide a dedicated HMO property manager to all landlords who choose a managed service.
HMO LETTING SERVICES
- Let only and managed services available
- Advice on HMO legislation
- Advice on licensing and article 4 restrictions
- Liaise with local authorities to ensure correct licensing
- Administration and completion of HMO licences
- Organisation of electrical, gas and fire safety tests
- Advice on works required, compliance with amenity, space and fire regulations
HMO MANAGEMENT SERVICES
- Specialist ARLA trained property manager
- Monthly inspections
- Ensuring suitable waste management
- Ensuring fire escape routes are kept clear
- Organisation of safety certificates including gas, electrical, fire and lighting
- Organisation of fire risk assessments and fire alarm testing
- Ensuring the property is kept in good repair to comply with HHSRS
- Organisation of maintenance/upgrade work
- Organisation of cleaning and gardening
- Ensuring rent is collected on time with rigorous methods of pursuit
- Serving of legal notices
- Utility management
- Liaise with local environmental health officer
- Record keeping to ensure all terms of licence are met
To discuss your HMO, or your investment needs, please contact the Oulsnam Lettings team on 0121 445 7410 or CLICK HERE to email us.
HMO – Houses in Multiple Occupation
ARLA – Association of Residential Letting Agents
HHSRS – Housing Health and Safety Rating System