We were contacted by a new landlord, we’ll call him ‘P’.
P has one property in Coventry which had been converted into a 4-bed HMO. P lived in Scotland and was about to move abroad for work, he needed someone on the ground in Coventry to be able to manage and look after his investment. The property had been on with an agent for several months, but had not been let out. The agent had encouraged P to offer the house as a family let at a much lower rate, as he had spent funds in converting the house to a complaint HMO, he was hoping that he could make it work as an HMO. P searched google and found that we specialise in HMO properties, he contacted us to see how we could help him.
We went to view it and saw that it was ok, but it needed a bit of TLC – the paintwork had been done poorly and there was a lack of atmosphere in the property.
We put forward our observations
- The property is a bit further out of town and not in an area typical for HMO’s
- The communal area had been converted into a bedroom, which is not ideal
- The rooms are all good sizes which is a plus
- There is only one bathroom and a small kitchen which isn’t ideal
And offered our suggestions:-
- The walls (and possibly woodwork) needed to be refreshed
- The property needed to b ‘dressed’ to make it more appealing, and help prospective housemate envision a ‘lifestyle’
- We offered him a good price for the work
- We offered him our fully managed Gold Level service (Our Services to Landlords)
P accepted our help and with the help of our team we turned an ‘OK rental house’ into a ‘lovely home’ ready for some new housemates. We also advertised the property on several portals and fairly quickly had 3 tenants move in – and for a higher monthly rate than the previous agent had been advertising. This house is not in a ‘typical’ house share area of the city….
To date only one room is still to be let…
If you think we can help you, do get in touch