Am I making the most of my HMO?

We are an independent lettings agency who work on our client’s behalf to secure unrivalled deals. As one of the foremost businesses excelling in HMO management Portsmouth has, there’s nothing we can’t accomplish. Dedicated and efficient, we are the team to trust.

Individuals frequently ask us what areas they should be concentrating on when it comes to HMOs. To assist them, we have taken it upon ourselves to produce some tips on the subject. By taking advantage of our extensive market knowledge, it will be easier for you to make informed investment decisions.

Our approach to HMOs:

Our first piece of advice would be to avoid blending different HMO tenant types. The preferred kind of tenant for HMOs is the professional. It’s sometimes the case that local housing allowance (LHA) tenants are trickier to house. Damage to the premises and bad debt can make such tenants more difficult to work with. When demand is high, brilliantly maintained student HMOs can also prove lucrative.

Once every fortnight, it would be wise to instruct a cleaner to clean the communal areas of the property. Keeping corridors, living spaces, kitchens and other communal spots clean is imperative to guaranteeing that everyone has a pleasurable experience. Usually, tenants won’t take responsibility for such chores. Whilst carrying out their routine cleans, the cleaners can also check the condition of the fire alarms so that you don’t have to. They can also see just how well the tenants are caring for the property themselves.

If you can, opt for refined HMO rooms. By creating top-notch properties with ensuites and wonderful finishes, you can attract greater rent. For HMO rents, you can increase them by as much as 50% with the right finish and decoration.

At T1property, we see to it that our customers are well looked after whilst they are with us. In order to provide a unique service to all of our clients, we add a personal touch to each project. With such tailored services, meeting your specifications will be our pleasure.

We are pleased to be the first and only team to specialist in HMO management Portsmouth has to offer. To find out more about what we can do for you, contact our friendly team today.