HMO(Houses in Multiple Occupation) and Multi-let Properties in Hendon
Useful advice for current multi room let landlords or those considering investing.
When considering investing or renting rooms in a property, there are some keys issues that you need to know:
Licensing and regulations – rules relating to management of an HMO are different to that of a standard AST. Should it require licensing or not the rules relating to safety still apply. To protect yourself and your tenants you must carry out a risk assessment and implement as required. The local council will help establish what is required if you are not sure; follow this link to see their information regarding HMO’s
Demand – landlords will want to have confidence that a property will let easily and you will receive a reliable rental income. It is important that you ensure your property is attractive to potential renters and offers something your competitors don’t. En-suites shower rooms, location, management standards and presentation are extremely important factors. Hendon area has several markets driving housing demand including Middlesex university, Brent cross shopping centre, Commuters plus the core employed and unemployed markets. The largest population group being between 20 – 27years old and hosting more than 20,000 students Hendon area offers investors a secure base for investing in multi let rooms.
Management – to protect your investment and get the best rental income, ensure you use an accredited and professional agent to assist you in managing the property. Slettings offer full management of multi let HMO’s, have a great understanding of the complexity of managing HMO’s and manage varying HMO’s from 3 to 20 rooms.
If you would like more information or a professional agent to assist you, please email firstname.lastname@example.org