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Multi-Lets and Homes in Multiple Occupation, Peterborough
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 a property occupied and used as an HMO are different and far more demanding 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 carry out a risk assessment and implement as required. The local council will help establish what is required if you are not sure.
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. Demand for rooms in Peterborough from responsible professional renters is growing. There is little choice of good quality well managed rooms in Peterborough. Backgrounds of room renters in Peterborough can be grouped into the following “Lifestyle Renters” (lots spent on lifestyle with less for rent) “Students” “Migrant and Overseas Workers” and unemployed renters owing to changes to Local Housing Allowance (LHA) rules for single under 35 year adults
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
Interested in renting a room?
If you are going to rent direct from a landlord we advise you choose a landlord who is accredited by the local council, the RLA (Residential Landlord Association) or the NLA (National Landlord Association) – ask private landlords to see their certificates or check on line. If you are going to rent a room through or agency ensure they are members of ARLA or Safeagent This will help protect you from unscrupulous letting agencies, unsafe housing and unfair fees. ARLA and Safeagent have strict codes of conduct/practice. Choosing the correct letting agency or landlord will ensure your tenancy runs as smoothly and you are left to enjoy the property. Belvoir take great pride in managing properties professionally:
1 All properties are regularly checked for risks and undergo a fire risk assessment before being let.
2 Communal areas such as hall, stairs, landing, kitchen and bathroom are cleaned on a regular basis.
3 Most of our rooms are let on an all inclusive basis covering utility bills, wifi connection, council tax and TV connection.
4 Belvoir manage the property, carrying out routine inspections, providing an in house maintenance team and provide tenants with a point of contact for the many queries that arise from time to time.
Belvoir Peterborough would be happy to assist you, either looking for a room to rent, or if you are a landlord in search of guidance for letting rooms. Please email email@example.com