Managing HMOs and multi room let properties in Cambridge

Terry Lucking multi award winning franchise owner of the leading letting agent in Cambridge so often hears landlords of Houses in Multiple Occupation talking about expensive issues they have experienced with their tenants who are renting individual rooms.

If this is what greets a prospective tenant viewer when they look in the common lounge is it any wonder why there are issues with current tenants and such long voids before you find someone desperate to rent a room?

Control of all common areas of a multi room let HMO is the landlords responsibility not the tenants. This important responsibility is so often ignored or just simply not understood by many landlords.

According to Terry management of the common areas including the hall, kitchen, bathrooms and garden is not a big issue and not that expensive. Terry would be pleased to offer free advice to anyone considering investing in a property and using it as a multi room let HMO.

Remember the property needs to look attractive to the eye from the road and when you walk round. Can any landlord really expect to find a financially responsible tenant if others are living like the photo above?

Demand for this type of accommodation by financially secure tenants in Peterborough is limited and focused in particular areas. For more free information about where to buy and how to prepare contact terry.lucking@belvoirlettings.com

The return on capital employed is attractive for investors who set the multi room let HMO’s up professionally usually in excess of 10%.
Terry Lucking of Belvoir Lettings Agency Cambridge recommends investors to take advice from a qualified sources only. Terry believes anyone or any business benefiting from the sale or introduction of a property to an investor is not able to offer unbiased advice as they are being influenced by other factors and not putting your interests first.
Would you buy a holiday from a travel agent who is not a member of ABTA? Terry recommends you only instruct a letting agent who is a member of ARLA.
For more information contact Belvoir Lettings one of the leading letting agents in Cambridge managing close to 1000 properties.

 

Terry Lucking offers free advice and free property visits to all investors who are considering buying. For more information or to ask Terry a question send an email to terry.lucking@belvoirlettings.com