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HMOs require a great deal of hands on involvement and intricate care to successfully manage them. Rapidly growing as one of Manchester’s leading HMO 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 are HMOs?
An HMO (House in Multiple Occupation) is a property shared by multiple tenants; an effective method of taking a standard property and attracting more profit through the power of conversion.
HMOs are growing increasingly popular, particularly in the North West. As the fastest growing HMO provider in Tameside and one of the leading management agents for HMOs in 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.
Why should I have my HMOs managed?
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 across 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.
What services are provided with HMO management?
HMO Valuation –
We’ll make sure you get the best price per room and give you the ideas to uplift your rental figures.
HMO Regulations –
Our thorough check of your property will ensure it ticks all the boxes to be compliant as an HMO. We’ll liaise with the council on your behalf and oversee any work that needs to be conducted to ensure full compliance.
Abode harnesses the full power of digital to put your property in front of as many eyeballs as possible. Using the latest digital techniques, traditional property portals and optional video advertising to attract the right tenants.
We’ll carry out all the viewings for potential tenants. Be it through the day, through the night or even the weekend.
All our potential tenants are subjected to rigourous referencing to ensure they meet your meticulous standards for your investment.
Prior to any move-ins, we will conduct a comprehensive and detailed inventory covering all communal areas and each individual living space. Our inventories are unrivalled in structured detail, and will totally cover all parties in the event of a dispute.
HMO Documentation –
All tenants will receive accurate and complete documentation on your behalf, outlining contracts and terms and conditions.
Tenant Check-in – We’ll oversee the check-in of all successful tenants, making them feel right at home in your investment.
Weekly checks –
With Abode managing your HMOs, we never have our focus distracted elsewhere. We will make weekly visits to your investment to carry out checks to ensure everything is in order, carrying out legal works such as fire alarm tests and inspections.
Maintenance – Should any maintenance issues arise, our maintenance department will efficiently act to ensure it is dealt with in a timely manner to keep tenants happy and carried out as cost effectively as possible.
Rent Collection –
All rental payments will be collected in a timely manner, delivered to you whenever you require. Any arrears will be proactively chased up, and appropriate action conducted in the event that payments cannot be made through the relevant serving of sections.
Cleaning and Trusted Contractors – Our years of property management have allowed us to build strong partnerships with trusted and locally sourced contractors who carry out our maintenance work. Their high quality standards are guaranteed on any works required in your HMOs, whilst optional weekly/bi-weekly and monthly cleaning is also available through one of our trusted cleaning partners.
Check-Outs – Should the time arise for a tenant to move onto the next chapter of their lives in the world of property, we will conduct a thorough check-out. with them to ensure everything is left in working order, and to give them a final and memorable send off.
All HMOs are unique and as such, pricing will vary dependant on a degree of factors such as room numbers, sizes, en-suites, available facilities and more.
Our standard management fees are:
15% of the rent (plus VAT) received is our standard management fee for our managed HMO. *If rent £400pcm, 15% plus VAT = £60 + £12 = Monthly fee of £72 inc VAT.
2 weeks of rent (plus VAT) is our fee for letting each individual room. *If rent £400pcm, letting fee would be £200 + £40 = £240 inc VAT.
Watch: Abode Property Management and Focused Developments | How to successfully source and manage a HMO: