Our HMO Property Investment Services are designed to make your life as a property investor and landlord as straight-forward as possible. You will be aware that any HMO property comes with a list of statutory requirements that you must comply with. To help in this Mistoria offers a full portfolio of services for the HMO investor.
1) Sourcing your HMO Property
Finding the right property is crucial to any investment and this is even more so when thinking about HMO investments. You may find the perfect size and format of a building but if it is in the wrong location, you will struggle to keep your rooms fully occupied. Empty rooms, means lower rental yield.
Our local knowledge ensures we select properties that are not just physically right, but are also in the right location, with good transport links and local amenities. This makes renting easier and keeps your occupancy levels high.
We will find properties that need refurbishment and have the right layout to allow reception rooms to become bedrooms while still maintaining the necessary communal space for a successful HMO conversion.
2) Ensuring HMO Regulatory Compliance
Not every property can be an HMO and there are set rules for the standards required for HMOs. These can vary from region to region as different councils will have their own policies.
The rules follow similar patterns and are mainly concerned with issues surrounding health and safety such as fire protection, as well as ensuring room sizes and facilities are suitable for the number of occupants in a building.
We will cover all of these regulations for you to make your investment fully compliant with local legislation. We are experts in this field with hundreds of HMOs under management and many successful conversions in place.
If a property requires an HMO licence, we will do all of this work for you and ensure all of the necessary paperwork is in place.
3) Converting a Property to HMO Use
Having identified the property, following its purchase, we have a fully trained, expert team of tradesman who will carry out the conversion work. This includes re-configuring the room layout as necessary; refurbishing any major elements such as the roof or damp-proof courses; rewiring and re-plumbing as needed and then redecorating the whole property to ensure it meets with your tenants’ needs.
The final step is to add furniture and white goods throughout. We ensure that the whole property is ready for use as quickly as possible.
To show an example you can watch our CEO Mish Liyanage on BBC TV Programme “Homes under the Hammer” show an example of one of our successful HMO conversions in Liverpool.
4) Managing HMO Occupants
HMOs generally require more management as there are multiple individual tenants and even if they may arrange their tenancy as a single group, they are all individuals and have more associated paperwork than for example a single family tenancy.
Again this is where Mistoria have been highly successful. Our Estate Agency offices cover Salford, Liverpool and Bolton.
We will find your tenants for you and then manage their tenancy through to completion. We work with students, professionals and others to make sure the tenancy works for all parties.
HMO Properties are an important part of the UK Housing Market and there is a growing demand for affordable housing. By using a single source company such as Mistoria, you can create a successful investment portfolio with the minimum of work required by yourself.
To talk to us about our current opportunities or ask a any questions about our HMO property investment services, please use our contact page to get in touch.