HMO Property Management

HMOs

If you rent out your property to a group of unrelated tenants it is not the same as renting a property out to a family or a young couple. If you are letting out property to students or professionals who are not related to one another, the property will be classed as a house in multiple occupation (HMO). In this case, you’ll need to comply with additional regulations and you need to ensure that your property meets certain standards. You may also need a licence from your local council. Failing to follow these regulations could mean you face substantial fines.

Letting Agents

For the reasons stated above, the majority of letting agents shy away from the management of HMOs as they don’t understand the market and the regulations that surround HMO properties. Donnington Stuart is a specialist letting agency that also manages HMO Properties.

HMO Property Management

At Donnington Stuart we have extensive experience with letting and managing HMO properties in Plymouth. We understand that this type of HMO property management requires greater involvement by the management company and specialist knowledge to manage efficiently. We are your HMO Property Management Specialist in Plymouth.

With sharers comes the need for more active tenant management and often higher turnover. The property will typically require more repairs than a single let, and the communal area is also generally the responsibility of the landlord.

Furthermore, sharing properties / HMOs are subject to a host of legislation which can be a true mine field for someone just starting out.

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