HMO Property Management
HMOs require a great deal of hands on involvement and intricate care to successfully manage them.
As one of Manchester’s leading HMO property management agents, Abode oversees efficient and thorough management to provide an outstanding quality of living for tenants and visible results to landlords and investors.
What is a HMO?
- 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
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 Abode, our passion is in returning time to landlords. Our current portfolio of managed HMOs are 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.
You should be aware of the legislation around HMO Management if you decide to manage the property yourself. You can find the legislation here: https://www.legislation.gov.uk/uksi/2007/1903/made
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 and 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 Manchester, we take great pride, time and meticulous care in managing them. For you as a landlord or property investor, this means powered profits whilst taking back control of your precious time.
The obvious benefit and why many landlords choose HMO properties is due to 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 that has 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, what your costs will be, lending costs, Loan to Value, 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 a great investment
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 HMO Letting & Management
Free valuation to Maximise your Rental return
Meet Tracy, with over 22 years of experience in letting properties in Greater Manchester. 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 Abode we are not tied to a high street, we prefer to be online an 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 Manchester over the last 10 years choose the right tenant for your property.
- Comprehensive tenant referencing & legal checks
- Professional Tenancy agreements & Legal paperwork
- Deposit registration & protection scheme
Professional Inventory to avoid any deposit disputes
Before the tenant moves in we will carry out on your behalf a professional inventory with digital photos of the full property.
In the unlikely event of disputes or evictions, we will have comprehensive evidence of the condition of the property before the tenancy began
ALRA Regulated Property Management
Let our experts use their knowledge and proven processes to keep your tenant happy
- Regular communication with the tenant
- Collect of Rent, chasing of late rents
- Client Money Protection
- Organise repairs from trusted contractors
- Tenancy Renewals
- Checkouts & Re Lets
- Dispute handling and advice if problems arise
HMO Management Fees
Need help choosing a service, or need a bespoke service?
Are you just starting your property journey and need help?
We have been working with Abode Property Management since 2018. As landlords we really appreciate their efficient and hassle free service, they are always just a phone call away. Special thanks to Tracy and Collette who filled all the rooms in our latest property really quickly. We would definitely recommend them to other landlords.
Abode Property Management (NW) Ltd have been managing our HMOs in Greater Manchester since 2019 and continue to exceed our expectations. Their professionalism is evident in every aspect of their business, from marketing and placing new tenants through to effectively monitoring certificate expiries on our behalf and relaying information to us about our properties. Every single member of the Abode team is friendly, efficient and willing to go above and beyond to help. Working with Abode over the years has been an absolute pleasure. Our only regret is not handing our properties to them sooner.
Experts Through Experience
Your trusted ARLA property mark regulated letting agent in Manchester, Stockport, Tameside, Salford, Warrington, Oldham, Bury.
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