10 Essential HMO Property Tips for Landlords in England

Dec 12, 2023 | Blog | 0 comments

HMO property management in England can be a complex and challenging job, especially if you’re a newcomer to the business. There are certainly more regulations and rules for HMO management than for regular buy-to-let properties. Not only that but having several individual tenants under a single roof tends to give landlords more administrative work to do.

We’ve put together 10 of our top HMO property management tips to help you understand how to ensure your HMO property in England is successful. Read on to discover our best HMO property tips.

1.Understand the Legal Requirements for HMO Landlords

One of the most crucial pieces of landlord advice for HMO properties is to make sure you have an in-depth knowledge of your legal responsibilities. You must be aware of what you are expected to do as a HMO landlord, and the various obligations you owe to your tenants. If you fail to comply with the regulations, you could end up in legal hot water, and put your tenants’ well-being, safety, and health at risk.

2.Organise HMO Insurance

While you’re researching HMO property investment strategies, you may have read about the importance of getting HMO property insurance. HMOs are deemed to be high-risk properties, so regular landlord insurance won’t give you sufficient cover. If you take out a specialist insurance product, you’ll have greater peace of mind. You’ll also be financially protected should a flood or fire occur, or if you experience malicious or accidental damage to your HMO property in England.

3.Know What Type of Tenant You Want to Attract

Maximizing rental income from HMOs in England is, of course, the main reason you’re investing in this type of property, but to really ensure you get the biggest return, you need to know what kind of tenants you wish to attract.

While all kinds of people live in HMOs, the most common HMO tenants include:

  • Seasonal workers
  • Young professionals
  • Students

One of the most important HMO property profitability strategies is to determine which group you’ll be marketing your HMO to so that you can then decorate and equip it as appropriate for that target demographic.

Decide what your target market’s preferences and needs are, and then tailor your HMO to suit those tastes and requirements. You should never underestimate the importance of HMO property design for success.

4.Create Extra Bedrooms to Increase Your Profit

Many landlords convert additional living spaces in their properties into bedrooms to help increase the rental income. As an example, if the property has a lounge and dining room as well as a large kitchen, converting the dining room to an extra bedroom will boost your rental income significantly. Make sure, though, that your property still complies with the law regarding overcrowding.

5.Consider Smart Renovations

There are several smart renovations you can do to make your property even more appealing to prospective tenants. These changes are affordable but can have a major impact on your property’s perceived value. For example:

  • Tidying up the property’s outdoor spaces to boost kerb appeal will help attract new tenants without costing a fortune.
  • Adding an extra full bathroom, shower room or toilet will help increase its value.

6.Invest in The Right Furniture and Finishes

One of the most important HMO property maintenance tips involves investing in the right furniture and finishes to meet your tenants’ needs. Of course, your property needs to be comfortable and welcoming, but it needs to be functional and practical too.

You should bear in mind that HMOs experience greater wear and tear than single-family dwellings, and therefore, any furniture and fittings you select must be strong enough to withstand frequent heavy use. You should also ensure that the items you choose are easy to clean and maintain so that they can be kept in good condition for longer.

7.Inspect Your Property Regularly

All HMO landlords should inspect their property regularly since wear and tear, as already mentioned, is far greater in this type of rental. Frequent inspections will help you ensure your tenants are sticking to the tenancy agreement and keeping everything in good order. You’ll also ensure you stay on top of any safety regulations by identifying possible maintenance issues and hazards before they get out of hand.

While regular inspections are important, you must remember to give your tenants adequate notice of the inspection in line with the law.

8.Carry Out Regular Maintenance

Being proactive is very important when you’re the landlord of an HMO. HMO properties in England see considerable use and therefore furnishings, fixtures, and fittings are likely to wear out far more quickly or require repairs more often. You are legally responsible for ensuring your rental property is comfortable, safe, and hazard-free, so carrying out regular maintenance is vital. Spotting problems and rectifying them before they get worse will reduce your expense overall since it will prevent a small issue from turning into a costly repair job.

9.Communicate Effectively with Tenants

The best HMO property management involves communicating effectively with tenants. It’s important for your tenants to know how you can be contacted and, if they do get in touch, that you will respond promptly.

10.Prepare for A Significant Management Burden

HMO property management in England can be hard work, so it’s crucial to be prepared for this from the outset. You’ll be responsible for a lot of maintenance and issue resolving, as well as considerable administrative work. One of the best ways to deal with this is to use a trusted property management company like The HMO Network.

As experts in HMO property management in England we’re on hand to help with all aspects of running your HMO, from finding and vetting tenants to dealing with ongoing maintenance and repairs.

Call us on 01245 835859 or email us at neil@charlesdavidcasson.co.uk to learn how we can help you manage your HMO efficiently.