Bexley has proven to be the most popular part of London for both buying properties and rentals over the last year. This is because it offers some of the very best prices in the whole of the capital. The situation has not gone unnoticed, seeing demand reaching huge levels as a result.
In July the Borough was home to the three hottest rental spots in the whole of London. Bexleyheath was the most attractive area, offering huge savings on monthly rents whilst giving residents a 35 minute commute to the centre of the city. Welling was the second most attractive area, with slightly higher rents. Erith came third, offering more affordable rents than the other two areas but offered a longer commute.
With so much demand landlords can unlock even better returns for their properties by legally transforming them into HMOs (houses in multiple occupancy). By letting rooms and shared facilities the number of tenants and rental income can be boosted. There is demand for this kind of property as it can offer savings for the tenants over renting an entire property.
Owners of HMOs need to ensure they satisfy their obligations and operate the property legally. On top of this it is crucial they make sure the properties are managed properly. This will result in happy tenants and fewer disputes that could eat into your rental income. Additionally happier tenants will be more likely to stay for the long term, securing your returns.
One way to ensure properties are managed effectively it to put your faith into an experienced company like Finefair. We have been providing an array of services for landlords across Bexley for many years, including our block management solutions. These are perfect for HMOs and landlords who have a large portfolio of properties in a local area. We can manage them effectively and deliver great savings in the process.
If you have any questions for us about turning a property into a HMO or managing one effectively we have the knowledge and experience to answer them.