HMO Management

  • Floorplans made
  • Advertising for a tenant
  • Viewings done
  • Referencing of prospective tenants completed
  • Condition statement / inventory arranged (meter reads taken)
  • Preparation of binding contracts
  • Initial payment of the deposit and first months’ rent taken
  • Utility switch over
  • Registration of the tenants’ deposit
  • Rent collection and monthly statements sent out
  • Rent arrears handling
  • Periodic property inspections, every 4 months, which we will hold keys for
  • Advice on refurbishment
  • Maintenance handling
  • Annual renewal of gas safety certificate
  • Warnings sent to tenants in breach of their contracts
  • Advise on property repossessions
  • Rent increases
  • Notice for repossession
  • Final inspections, of which meter reads are taken
  • Return of the tenants’ deposit at the end of the tenancy
  • Re-letting process, which usually includes a rent increase

Costs

  • Tenancy Set Up: £240.00 (inclusive of VAT) charged when each tenancy commences (this includes end of tenancy Dispute Management)
  • Management: 12% (inclusive of VAT) will be applied to all rent collected.
  • An annual charge of £180.00 (Inclusive of VAT) will be applied for the management of licensed & non-licensed HMO’s let as Rooms.
  • Management of Services: £36.00 per month (inclusive of VAT) will be charged for the collection of services from tenants; remittance to energy suppliers, water supplier, council tax, broadband supply, communal cleaning and gardening. Monies will be collected from the services account on a monthly basis.