Many people are choosing property management as a way to make a profit, particularly in London where the market is continuously growing. More and more housing is needed for more and more people, increasing the demand for affordable, high quality homes. For those who own an investment property with three bedrooms or more, turning your property into a HMO (house in multiple occupation) could be a viable option. Doing so serves the community well, providing living spaces for multiple people, and also maximises your income. We specialise in Barking and Dagenham property management, as well as managing properties throughout the capital, and we can not only help you to turn your property into a HMO but we can also guarantee your rent too.
A HMO is essentially a single property occupied by 2 or more people who are not members of the same family. There will be separate bedrooms for each resident, although bathrooms and kitchens are usually shared. If you have a property with three or more bedrooms and are only letting it as a single property, then you may not be using it to its full potential. By turning it into a HMO, you can reap many more benefits and much more profit. In general, income is increased by an additional 5-10% in comparison to a single dwelling property.
We have a team who specialise in converting properties into HMOs and managing them. By taking the plunge and converting your property into a HMO, you could begin earning a higher income from your investment straight away. We have experienced a lot of success when it comes to turning individual properties into HMOs, and with our ten year guaranteed rent plan, you will receive the highest possible income.
With our guaranteed rent service, all of the hassle is taken out of managing the property for the years that you lease it to us for. There are no planning or licensing issues, nor do you have to worry about any bills or costs. You will also get paid regardless of any void periods that may affect the property. Your rent will be paid every month via BACS payment, and it will be a net agreed figure. All of this is guaranteed for the term of the lease.
By turning your property into a HMO, you can generate significantly more income than you would with a single dwelling property. When working with us, you will receive a hassle free service that will take all of the hassle of running and managing your property off your shoulders.