Hmo Property Management – Herdman homes, estate agents in barrow-in-furness, the furness peninsular and south lakes

HMO PropertyBarrow in Furness

Barrow in Furness

HMOs require a great deal of hands on involvement and intricate care to successfully manage them.

As one of Barrow in Furness’s leading HMO property management agents.

HerdmanHomes oversees efficient and thorough management to provide tenants with an outstanding quality of living and visible results to landlords and investors.

What is a HMO?

What are the different types of HMOs?

Students of universities and or medical students or nurses.
Professional people who have professional employment
Contractors like builders needing a location away from their homes.
Local Housing Authority council tenants

How to manage a HMO Property?

Much like standard rental properties, HMOs require a lot of attention to detail to ensure a successful tenancy and return on investment. HMOs require extra care and attention, with a wealth of regulations to meet safety and council demands.

Managing an HMO requires a lot more time than a standard property. However, the benefits in the long term are worthwhile, providing the management is done correctly.

At HerdmanHomes, our passion is in returning time to landlords. As a result, our current portfolio of managed HMOs is thoroughly cared for, with no fine details excluded.

Whether you’re a first-time investor looking into HMOs or a property portfolio phenomenon. We help to ensure your HMO is fully up to standard to meet the comprehensive regulations.

What are the HMO Management Regulations 2007?

You should be aware of the legislation around HMO Management if you decide to manage the property yourself. You can find the legislation here:

What is classed as a HMO Property?

An HMO (House in Multiple Occupation) is a property shared by multiple tenants.

If at least three tenants live at the property and are from more than one household, they share a bathroom, toilet, and kitchen facilities with the other tenants.

HMOs are growing increasingly popular, particularly in the North West. As one of the leading HMO management agents in Greater Barrow in Furness, we take great pride, time, and meticulous care in managing them.

For you as a landlord or property investor, this means powered profits while taking back control of your precious time.

Is a HMO a good investment?

The obvious benefit and reason many landlords choose HMO properties is the increased rental income that can be achieved.

This higher rental income can increase your ROI compared to single let properties.

You need to choose a good location for your HMO with lots of demand from your prospective tenants.

You need to make sure you are legal and following the regulations (check for Article 4 in your area)

You need to make sure you know your numbers, what the rooms will rent for, your costs, lending costs, Loan to Value, the purchase price of building, and refurbishment costs.

You need to make sure you market the rooms well and be responsive to enquiries (we excel at this)

You need to have all the systems and paperwork for moving in and out tenants smoothly and legally (we excel at this)

If you can do all the above, then HMOs can be an excellent investment.

What are the Minimum room sizes in HMOs?

From 2018 regulations set the minimum bedroom sizes for HMOs:

A bedroom of 4.64 m² for one child under ten years of age.
A bedroom of 6.51 m² for one person over ten years of age.
A bedroom of 10.22 m² for two people aged over ten years of age.
Any part of a bedroom where the ceiling is lower than 1.5 meters is not considered as usable floor space and therefore not included.

Local authorities can choose to apply larger room size standards.

Steps for Successful Barrow in Furness HMO Letting & Management

Free valuation to Maximise your Rental return

Meet Tracy, with over 22 years of experience in letting properties in Greater Barrow in Furness. She will attend your rental property and deliver a:

Free, no-obligation valuation.
Landlord checklist for your legal obligations.
Advice on how to maximize your rent.

Great Marketing to generate lots of enquiries

Did you know that 95% of renters look for properties online? At HerdmanHomes we are not tied to a high street. Instead we prefer to be online and use those savings to hire experienced property experts

Make the most of your advertising with great photos and descriptions.
Advertise your property on all the major portals.
Waste no time, instant marketing.

Rightmove | On The Market | Spareroom | Facebook | Instagram

Attract the Best Tenants & Minimise Voids

An empty house costs you money. We focus on renting your house as quickly as possible to maximize your income.

We understand the best tenants are busy and have jobs so we work around them and provide flexible viewing times.

We offer accompanied viewings to promote your property.
At weekends.
In the evenings.
At convenient times for potential tenants.
Flexible Viewing Times so potential tenants can view.

Excellent Tenants & Staying Legal provide Peace of mind

In our application process, we provide a thorough and extensive list of referencing checks. Alongside our experience of letting to thousands of tenants in Barrow in Furness over the last 10 years choose the right tenant for your property.