HMO LETS are specialists in all things HMO and have over 30 years experience creating and managing HMO properties in London, Kent and Essex.
When landlords work with us, they gain access to our expertise and knowledge to gain higher rental rates, reduced voids and a much more efficiently run HMO. At HMO LETS we understand the complexities of running a HMO. We keep our landlords up to date with all the regulation and compliance requirements so their HMOs are always legal.
Best of all our costs are fully tax-deductible, allowing our landlords to benefit from our extensive knowledge for much less than you might think.
With the current tax regulations, our landlords are able to claim back up to 40% of our fees through their annual tax return. This means that by working with HMO LETS, landlords not only get the best and most experienced professional HMO property management services, they can get it for as little as 6%. Now that's what we call a 'great deal'!
"if you think hiring professionals is expensive, wait until you hire an amateur"
Red Adair
HMO LETS will deal with every aspect of converting your existing single let property to meet local authorities strict rules for HMOs, applying for the HMO license, then finding and vetting tenants, managing the tenancies as well as maintaining the property, turning this into a completely hands off investment for you the landlord and best of all you will earn more money than when it was a single let being management by yourself or previous agent.
By handing off the full management of your HMO to us means you can increase your income by as much as 60% whilst reducing your workload to virtually zero. This is what we call a ‘true win win for the landlord’
Some landlords prefer to know exactly what their monthly income will be. If you are one of these landlords/investors we can offer you our Guaranteed Rent Model whereby effectively HMO LETS become your tenant and agree to pay you a ‘guaranteed’ fixed amount every month then we take full responsibility for the renting and maintaining of the property, you get your fixed monthly rent regardless of whether property if fully rented or not and best of all we cover almost all repairs regardless of cost!
To assist landlords in this situation we offer an Advance Rental Scheme whereby the you can get up to 12 months’ rent paid in advance, this is very helpful if you're in need of funds now to clear debts, ease cashflow bottle necks in your portfolio or just need money to fund your next invest project.
For most investors the idea of a completely hands off investment that can deliver great monthly cashflow as well as long term capital gain is the best they can wish for. A well-designed HMO managed by HMO LETS will give you just that.
Through our sister company OAKhouse Living Spaces we work with our investors to find the right property at the right price, we refurbish and convert it into a well-designed HMO, get it licenced and let, then manage it for you. Not only will you earn income from the rent but also have capital appreciation from the property over time.
NB OAKhouse Living Spaces are specialise in sourcing the right property at the right price so the majority if not all of your initial investment is returned once the property is finished re-financed and tenanted meaning your ROI (return on investment) is infinite and you have the funds to purchase your next investment property
Having vetted hundreds of tenants over the past three decades we know the right questions to ask and what to look out for when choosing tenants for your HMO. Not only do we do a comprehensive credit check to make sure their financial and work situation is stable enough to maintain their rent long term but we meet every prospective tenant and get to know a little about them to make sure they are a good fit with the existing tenants which is the best way to maintain a happy house of multiple occupancy!
We regularly inspect properties and monitor how well the property is being maintained, providing detailed inspection reports and informing you of the condition of the property. Should the tenant need to improve on their tenancy obligations, we will visit more often until issues are resolved
We realise the importance of dealing with reliable and trustworthy suppliers in connection with any work carried out on your property. We ensure that all the suppliers we work with are correctly insured before instruction. We ensure that all legal compliance is adhered to at all times giving you additional peace of mind and security.
