One thing you may be surprised to see is that not every lettings agent offers services for HMOs (houses in multiple occupancy). There is a simple reason why this is the case though; managing them requires different skills and competencies. It also presents a different level of risk. Fortunately the team at T1property specialise in this area and have become the leading provider of HMO management Portsmouth has.
The important thing to keep in mind is that the letting agent legally becomes the “Property Manager” when they manage a HMO. This means they are responsible and must be fit to hold the title. To be classed as fit the managers must have the right training and experience.
Perhaps the biggest reason so many lettings agents don’t manage HMOs is the potential that they have not been converted with regard to the regulations. If a property is not fully compliant with these requirements the property manager could become liable for some really big fines. To protect themselves they need to be able to do their own compliance checks and ensure everything is correct. This also requires the relevant training and experience.
Another reason managing HMOs is more challenging is the hassle factor. Numerous tenants in different households living in the same property can cause a number of problems. It will be the property manager’s job to resolve them and ensure everybody is happy and safe.
Although there are challenges the T1property team is prepared and qualified to take them on. We set the very highest standards and are fit to act as property managers for HMOs of various shapes and sizes. Our skills and experience is the reason we chose to specialise in this area when so many lettings agents avoid it.
If you would like to discuss our services with us, or want to know why we are the best choice for HMO management Portsmouth has, please get in touch.