One of the everyday tasks in HMO management is sourcing new tenants for your properties. But do you really know who you are looking for? Without a clear vision on your perception of an ideal tenant you fill find that there are many types of people. They are often described with a few key words such as, working professional, experienced, full time employed. Or maybe a student or a party person, but these are just a few details, isn’t it?

When building your HMO portfolio, HMO management company or even your R2R portfolio, all property gurus always say that location is the most important criteria, and I can’t emphasise enough how true it really is. You can pretty much change anything within the property (as long as you do it in line with planning permissions), however you can never change the location of your property. Well, unless you buy an HMO on wheels 🙂

Have you ever left your home without deciding on where you are going?

As 2020 is approaching the end, it’s quite natural that we reflect back on it. I have seen many people posting publicly about all of the things that they feel most grateful for in 2020. I think it’s wonderful as I believe that gratitude is very powerful, especially when practiced on daily basis.

Let’s be honest, the current situation with Covid – 19 has affected the property industry in a many different ways.The property sales been booming due to short term tax reliefs. It is what has saved many of the estate agencies during these challenging times. The lettings and management situation is very different however. Especially the HMO industry in London.

Property business consists of two main components: The property itself and the people to whom you are selling or renting it to. Most often defined as your clients. Very often we hear the expression that property business is all about the people. Well I would like to believe that it’s both, the property or the building itself. As well as the people living in it. As property managers, we deal with both of these areas on daily basis. And to make sure your business runs smoothly, you need to take care of both of these aspects. Maintaining the building in…

We hear this phrase many times over, especially in an entrepreneurial environment. But do we actually act on it?

Management of HMO properties comes with endless lists and lists of serious responsibilities and regulations. The industry is so highly regulated that if anything goes wrong because of your error, you can end up in an imprisonment. By nature I am a serious and collected person and running a serious business highlights this characteristic even more.

As a landlord or a manager of an HMO, it is your legal responsibility to regularly check fire safety and fire alarms. And to keep the record of all the checks.