HMOs benefit from the highest rental yields – FACT
Recently I had a landlord contact me asking me to manage his “fully refurbished” property. On meeting him at the property, I can only describe what I was greeted with as utterly disgusting. I’d go so far as to call this property a slum. I can assure you that it felt really good to let […]
Licensed HMOs in Medway – the data
For those of you who read my articles regularly, you may recall that at the beginning of the year I reported some interesting statistics on the number of HMO license approvals being granted across the country. Incase you don’t, the stats showed that over the past 12 months, 18,984 HMO license applications were made to […]
99.4% of HMO applications are being approved but 72% of Councils are not enforcing license law
As you all know, my lettings company specialises in management of Houses of Multiple Occupation (HMO) so I always have a vested interest in the HMO market. In October last year, one of the most important legislations for HMOs changed; the mandatory HMO licensing rules removed the three storey rule (previously licensing applied to HMOs […]
With 45% of Medway HMO owners living outside of the Medway towns, could smartphones replace cheap letting agents?
There are very few people who have not succumbed to the ease of a smartphone. Those that haven’t – I’m in awe. For me, my phone is instant access to every aspect of my business and – as for many I’m sure – has become a fairly permanent extension of my forearm. But is it […]
What your local property expert has to say about the Medway rental market
Well, thus far October has proven to be an incredible month for the Medway rental market. We have let three out of four flats in one Gillingham property before the building work had even been completed. And in another Gillingham HMO we have let four rooms in a six-bed homeshare to doctors. Doctors? Yes that […]
Is HMO saturation of the property market an issue in Medway?
August was huge month for my HMO management company HomeShare, with thirty eight rooms let, thirty tenants checked in and seventy one newly refurbished rooms becoming available across Medway, Folkestone, Dartford, Catford and Woolwich. With fantastic reviews from both happy landlords and tenants, you’d think all would be well in HMO land, right? We are […]
Is the complexity of licensing going to drive landlords out?
I’ve just written an article on some license changes in Bexley which could considerably change the landscape of Houses in Multiple Occupation (HMO) ownership in that area, which led me to thinking about the wider impact of licensing complexities for buy-to-let landlords. Currently Medway Council follow the prescribed licensing set out by the government; that […]
Medway Property News review of the year
I’m spending Christmas and New Year in Cyprus this year. I spent most of my summer holidays as a teenager growing up there and so know the island well. Property prices have taken a hit badly there due to the recession and people who want to sell are really struggling. It’s a buyer’s market, so […]
What does the interest rate rise mean for the rental market?
Incase you missed it, The Bank of England raised the base rate from 0.25% to 0.5% this week. The base rate is the Bank of England’s official borrowing rate, which influences what borrowers pay and savers earn. The base rate has remained fairly static over the last decade, with 0.25% being the lowest on record. […]
What’s a better investment – a small or a large HMO?
In amongst various meetings this week, I had a great chat with a landlord about the optimum size of an HMO property. We started discussing the pros and cons of smaller versus larger, and what would potentially offer the best return on investment. With those of you who are first time landlords in mind, I thought […]
