5 mistakes that can cause stress for HMO property developers

In today’s post we are going to look at some of the stress inducing mistakes that property developers can make in regards to setting up a HMO property correctly. Housing of Multiple Occupation (HMO) is a great way of earning an income from a property, but it doesn’t come without risks and pitfalls that many can fall victim to, that’s why it crucial to get the right advice. 

We try to stay away from errors and negative comments, but your chances of making a financial future from property rests on you not falling victim to these mistakes. 

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How to Avoid Condensation

Condensation is a huge problem in UK homes. It can be a issue itself and it can cause a range of different large, more serious, issues in your home. The issues it can create include mould growth, black dots on the window frames (technically another form of mould), unpleasant smells, streaming windows, and a whole range of issues. Condensation can be a massive issue in older properties, but can also plague new builds and some homes that you may not expect it to be an issue in. 

Here are some great, easy, ways to avoid having it become an issue you have to fork out money to fix. 

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A Quick Guide of Possible Structural Issues for Your Property

Structural issues can blight a landlord, property developer, or anyone looking to buy a property. It’s a great idea to learn about what problems you can face, so if you are ever in a position where these are problems you will know exactly what to do. 

Here’s a list of some of the structural issues you may face – keep an eye out for signs of these when viewing a new property, or visiting a property you own. 

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What you need to have for ‘Move In Day’

When it comes to ‘move in day’ there are a lot of different variations. There are lots of different rituals and different practices that many people have for this day, it would make a lot of sense if everyone had a slightly different way of moving in their tenants. 

There are specific things you’ll need to do, legally, as a landlord in order to stay compliant and some actions to make you legally compliant. Here’s some of the most important legal aspects of ‘moving in day’. This is a fairly short blog, so make sure to get ALL these steps done! 

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How To Get Started As A Landlord

If you want to become a landlord but aren’t quite sure where to begin, this is the article for you. This will briefly cover the very basics for those looking to learn about being a landlord, so if you want to take the first step, make sure you are making a well informed decision. 

Property is a commodity. That means that there is a reliable and steady source of income, and it will always be in demand, however it’s not straightforward and not always easy. Just like any business or investment strategy, there are things to learn. 

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The Basics of Renting to Students

Renting to student has advantages and disadvantages, just like any demographic, but there are definitely some features of this market that are enticing. The Higher Education Statistics Agency (HESA) in the years 2017/ 2018 reported there were 2.34 million students – this is a large pot of possible tenants… 

If you are thinking of heading towards student lettings, you want to make sure you are ready to carter for this exact demographic. These are the basics of the student specific rental sector – the 101 of renting to students specifically. 

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Getting a Property Ready to Sell

As this blog is being written, there’s changes to stamp duties that mean many people across the UK are preparing to finally sell their homes after the COVID 19 lockdown. This blog post is about the preparations to make in order to sell your property. A great reminder for property managers who may be out of practice, as well as all the first time home sellers. However, these are great tips in general to help those ready to sell their home. 

If you need to sell your home, or any property, it can be easy to put it on a website and forget about the changes and alterations you need to do before you sell it. Remember to get tasks done before you think about handing over the keys! Here’s a little list of all the tasks to do, and why it helps to get these sorted, both for real life appeal on the first view, and for the virtual greetings you need to make (which is far more common in the current climate). 

 

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DIY Tips For Beginners

Home DIY can be very challenging for some, for others it’s as easy as pie, even the seasoned professionals can make mistakes when it comes to alterations around the house. During the time of writing of this article, during the COVID 19 lockdown, online searches for DIY tips are at an all time high (giving the impression that a lot of people are giving it their first try!). So here are some great tips to help you get started with DIY around the house – whether it’s a house you intend on selling, developing, or even possibly just your own property that you live in.

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Suggestions For Adding Long Term Value To Your Property

We’re still in the midst of the COVID 19 lockdown, that means a lot of uncertainty in the housing market. However, because these blog posts are revisited, it’s a good chance to talk about ideas for long term projects to property that can add value, the additions that will always be useful if you have the time to make them (and we all have plenty o time right now) 

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Virtual Viewing Advice

As this blog is being written, we are all in the midst of the COVID 19 crisis. Before I begin the topic, I hope everyone reading this is safe and has a roof over their head. This pandemic means many things for many people, but for property (sales and rental especially) it means that there’s an increase in ‘virtual viewings’. Because of social distancing measures (to those reading this post Coronavirus, this is a 2 meter compulsory distancing from strangers to prevent the spread of the virus) virtual viewings of properties where no one actually goes anywhere apart from the person selling the property taking those viewing it on a tour, aided with the use of a camera to show the property. 

I advise property managers to stay abreast of the changes to mortgage holidays and other COVID 19 legislation, however this blog is featuring this style of house viewing because as experts we’re expecting this to become more common even after the virus has become no threat to society… 

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