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HMO and Multi-let Properties in Cambridge
Useful advice for current multi room let landlords or those considering investing.
When considering investing or renting rooms in a property, there are some keys issues that you need to be aware of:
Licensing and regulations – rules relating to management of an HMO are different to that of a standard AST. Should it require licensing or not the rules relating to safety still apply. To protect yourself and your tenants you must carryout a risk assessment and implement as required. The local council will help establish what is required if you are not sure; follow this link to see their information regarding HMO's
Demand – landlords will want to have confidence that a property will let easily and you will receive a reliable rental income. It is important that you ensure your property is attractive to potential renters and offers something your competitors don’t. En-suites shower rooms, management standards and overall presentation are extremely important factors. Cambridge has 6 markets driving housing demand including the Science Park; Addenbrooks Hospital, Commuters, Students plus the core employed and unemployed markets. The largest population group being between 20 – 24years old and hosting more than 20,000 students Cambridge offers investors a secure base for investing in multi let rooms. Follow this link for more a detailed analysis of the Cambridge property market.
Management - to protect your investment and get the best rental income, ensure you use an accredited and professional agent to assist you in managing the property. Belvoir offer full management of multi let HMO’s, have a great understanding of the complexity of managing HMO’s and manage varying HMO’s from 5 to 24 rooms.
If you would like more information or a professional agent to assist you, please email firstname.lastname@example.org