Furnishing any property is important but furnishing your HMO is doubly important. Here are some of our top tips for furnishing your new HMO.
Many investors are nervous about purchasing an HMO because of the work that may be involved. Finding good tenants, dealing with tenant issues, rent collection, licensing and being in compliant with regulations are just some of the duties of a landlord. If you’ve recently taken the plunge into property investment, or even added a HMO to your current portfolio, you may be at a loss of what the next steps should be and how the property & tenants should be managed. You may even have a large portfolio already and need help keeping things ticking over and running smoothly.
Using a letting agency to manage your property is a great way to go if you find your interests are solely for investment, and not to be involved in the day-to-day responsibilities of looking after a property and tenants. At Now Rooms Liverpool, we offer a fully-managed service, which is perfect if you are a landlord wanting to recoup the benefits of owning an investment property without it having a big impact on your time. We can take care of finding tenants, processing their applications, applying for your licence/renewals and everything from arranging ad-hoc maintenance repairs to conducting property inspection, ensuring your property remains compliant and meets health & safety requirements. We take care of your investment as if it was our own, leaving you free to enjoy the rewards with minimal effort.
Being a landlord is equal to running a (small) business. Tenants are provided with a product (the property) as well as a service (the ongoing management of the property). To get the most from a property investment, there is a lot of time, effort and organisation involved, whilst delivering the best possible service to your tenants – ensuring they are happy, safe and comfortable in your property. This includes but is not limited to reliable and speedy communication with your tenants, fast organisation of maintenance and repairs, timely deposit returns, professional arrears chasing and debt repayment negotiation, receipting rent and administering invoices for year-end tax reports and other business-like processes.
Within our team, based in our office in Liverpool, we have collective experience of over 100 years in the property industry, and part of our job is to keep on top of changing local council regulations, laws and licensing terms in order to ensure you can continue renting your property. Along with this, we are also extensively experienced in renting rooms, conducting property appraisals to assist with selecting the most suitable rental figures for each room, and the everyday liaising with tenants – handling everything from claiming deposits to finding tenants the perfect room to suit their needs, or handling disputes between housemates to find a peaceful resolution for all. These are all processes and procedures that we can provide to landlords in a professional manner, and all of this helps to encourage tenants to stay in the property for a longer duration, meaning we can maximise your rental income.
If you own a HMO investment, and would like to utilise a managing agent to help you get the most out of your property with minimal time and effort from you, then please don’t hesitate to contact us to explore our services!
Furnishing any property is important but furnishing your HMO is doubly important. Here are some of our top tips for furnishing your new HMO.
Liverpool is a very attractive destination to invest in property in for many reasons. This article will outline some of them!
Want to learn more about HMOs? This will cover your basics and why they're a great investment.
