HMO Management Service
Our HMO Management Service Explained;
An initial market valuation of your property
Our property managers have expert knowledge of the local area and are always ready to help you achieve the best possible rental value for your property.
We will determine if your property is suitable to be rented as an HMO.
Ideally, your property will have at least 4 bedrooms and will be within walking distance of a train station.
If your property does not meet our above criteria, do not worry. We can still help you manage your property and we’ll guarantee your rent on our full management service.
To find the best tenants for your property, we will advertise your property on a variety of property platforms to find suitable tenants.
We will advertise your property room by room. To increase your rental income, we can even rent out the living room, as a bedroom!
(Please make sure you have the necessary licenses from your local council before we market your property)
Once we are instructed to find tenants for a property, we guarantee to have the property listing live within 48 hours. 97% of the time, we have listings live on all portals within 24 hours. We hate wasting time.
After marketing your property, we will start right away with viewings.
We will conduct viewings during the day, in the evening and on the weekend.
On average, it takes us 5 days to find the first tenant and 19 days to fill your property.
Don’t worry. We always make sure all tenants have been referenced before they can move in. We even ask for a guarantor!
We wouldn’t place anyone in your property that we wouldn’t want in our own homes.
Our referencing process includes but is not limited to identity & fraud information, any court information, written verification of employment and income, full credit checks, previous letting references and affordability calculation.
Once tenants have passed referencing and confirmed they want to move in, we begin writing up a contract between ourselves and the tenant.
All properties and tenants are different so instead of using a standard AST we personally write tenancy agreements which will best protect your property.
And of course, we have all agreements checked over by our legal representative before handing them over to tenants!
Once contracts have been signed, tenants must then pay the deposit (which will be equal to one months’ rent) and the first months’ rent before they can move in.
We will then register the deposit with mydeposits.co.uk within 5 days.
Move in day
Once all the above is completed, it is time for the tenant to move in.
We’ll meet the tenant at the property and do a basic schedule of inventory as well as our first property inspection with the tenant present.
We then hand over 2 sets of keys to the tenant!
Throughout the whole tenancy, we will be there 24 hours a day, 7 days a week, 365 days of the year to help the tenant.
The tenant will be given their property managers mobile number, email address as well as the office number.
They will also be given an emergency number to call in case the situation is urgent and they cannot reach anyone in the office.
We promise to handle everything on your behalf, you never even have to have direct contact with your tenants.
Every month we will collect rent from the tenant on your behalf.
We promise to transfer the rent to you within 1 working day of it clearing our account. This means no more waiting around wondering when your property managers will pay you!
In the rare case, a tenant does not pay rent on time, we will chase the tenant on your behalf for payment.
We will conduct periodic property inspections during the tenancy. On our HMO management service, we will visit your property every 1-2 months.
This is on top of our monthly phone calls to every tenant to ensure everything is ok.
These inspections also mean we are often able to spot any issues with the property and fix them before they turn into something big saving you money.
Maintenance and repairs
Not only will help you by getting quotes for any minor/major work required to your property both during a tenancy or between tenants but we will also oversee all maintenance work.
We will always get multiple quotes to ensure you receive a good service at a good price.
We have a database of vetted, trusted contractors that we use time and time again.
End of tenancy
We sign 6-month contracts with tenants who stay in our HMO properties. When each contract is coming to an end, we contact the tenant to find out their future plans.
If the tenant wants to continue renting your property, we will review the rent with yourselves before signing new contracts with the tenant.
If they do not want to continue renting your property, we will begin the process again to find your property new tenants.
Move out day
Whenever a tenant moves out, we will do our final property inspection with the tenant and compare it with the original inventory.
If there are no problems, we release their deposit back to them.
If there are any problems, we will enter a claim to keep their deposit to repair any damages before next tenant moves in.
Remeber to relax. We have everything covered.
Sit back, put your feet up and enjoy the rental income every single month without any of the hard work.