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Portfolio building

Helping you to build an HMO portfolio

Houses in Multiple Occupation (HMOs) have consistently out-performed other buy-to-let investments over the last few years, and with London continuing to boom and experience a growing population with limited new housing, this trend is likely to continue for many years to come.

Not only are HMOs an efficient way of maximising current housing, they also provide more affordable options for the growing number of renters. And in Central London, many of these are likely to be professionals with decent incomes.

So whether you’re based in the UK or overseas, we can offer all you need to build a profitable portfolio, from expert advice through to sourcing, purchasing and management, as well as later disposal should your priorities change. Click the following link for more details on how we work with investors and property developers

As well as working with investors direct, we’re also happy to liaise with their agents – take a look at further information on how we work with property agents

The three main HMO markets

There are three main markets for HMO tenants:

  • Local Housing Authority Tenants
  • Students
  • Professionals

Each has advantages and disadvantages, although at Outlet we generally recommend either the second or third group – for both of which there is plentiful demand in Central London.

Where to invest

As a starting point, think about which areas you may want your property to be in by looking at some of our area guides. Those served by Westminster Council, who we deal with regularly for HMO properties, include: Soho, Fitzrovia and Marylebone. We also work with Camden Council, among others, which covers King’s Cross, Euston and Bloomsbury

Financing your purchases

If you require a mortgage, bear in mind that there are specialist HMO mortgages available, and that your loan will be subject to certain restrictions. For more details, see our mortgages page

Costs

This is a complex and ever-changing subject, too involved to go into in detail here. However, the main thing to remember is that you need to factor in, over and above the initial capital costs and any mortgage are likely to include:

  • Management charges (bear in mind that our charges are both competitive and transparent)
  • Insurance (typically proportionately higher for HMO properties)
  • Gas & electrical certificates
  • Maintenance and service charges
  • Ground rent and service agreements
  • Accountancy, legal and other professional fees
  • Travelling expenses (visiting your properties)
  • Extra office costs such as phone, internet, postage and stationery

Bear in mind that each tenant will require their own agreement, and common sense dictates that multiple tenancies are likely to involve extra management time/costs. That said, our long experience means we are able to minimise this, and ensures that you can benefit from economies of scale.

Property improvements

Before letting your property you first need to ensure that it meets all the required standards, which are likely to be detailed, with different authorities having different requirements.

At the same time you may want to consider making improvements to your property, above and beyond what’s needed to meet the required standards. The more attractive and modern a property is, the easier it’s likely to be to let, and for a higher rate.

Further information

For an informal chat on how we could help you to build an HMO portfolio, please contact us

 

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