At HMO Letting Agent, we excel at repurposing residential properties into highly profitable, fully licensed Houses in Multiple Occupation (HMOs). Our portfolio includes the successful transformation of a three-bedroom house into an impressive six-bedroom HMO.
Updating and Upgrading Key Systems
Our journey began with a comprehensive revamp of the property’s electrical system. Our team of qualified electricians ensured that the entire electrical setup was safe, efficient, and met all regulatory standards. Alongside this, we installed a new boiler to guarantee reliable heating throughout the property.
One of our key contributions to the project was suggesting the addition of a loft conversion. We collaborated with an external company to construct an L-shaped dormer loft conversion. This innovative design provided three extra bedrooms and a bathroom, significantly increasing the property’s capacity and potential rental income.
As per fire safety regulations, we installed fire doors throughout the property. Our careful selection ensured that these vital safety features blended seamlessly with the property’s overall aesthetics.
Adding Value with Extra Bathrooms
In a bid to further increase the property’s value and appeal, we constructed a third bathroom downstairs, converting an existing toilet space. This addition not only improved functionality but also enhanced the potential rental income of the property.
We successfully secured the HMO licence in Greenwich just before the announcement of Article 4, showcasing our ability to navigate regulatory landscapes. Once the property was ready and licensed, we moved onto letting and managing it, achieving an impressive gross rent of over £5200 per calendar month.
This case study illustrates our capabilities at HMO Letting Agent. From offering innovative suggestions to overcoming challenges, delivering high-quality HMO conversions, and letting and managing properties, we provide a comprehensive service that turns regular homes into high-yielding HMOs. Our goal is to create comfortable, functional living spaces that offer substantial returns for property owners.