Top 10 Tips
1. Keep your property well-maintained
One of the most important factors for attracting quality tenants is maintaining your property to a high standard. This includes regular repairs, painting, cleaning, and general upkeep. Providing a regular cleaner can help keep shared spaces clean and tidy, while ensuring the garden is well-maintained, as HMO tenants may have a tendency to neglect this aspect.
Additionally, in today’s world, it’s important for tenants to have suitable facilities to work from home, so consider providing dedicated workspaces or reliable internet access. A well-maintained property with these added features is more likely to attract responsible tenants who will take good care of it and stay for a longer period.
2. Thoroughly screen potential tenants
Always conduct thorough tenant background checks, including credit and employment history, references, and previous rental experiences. This will help you find tenants who are likely to be reliable and respectful of your property. Using a professional referencing company can help, although it’s important to note that the quality of these companies may vary. Alternatively, insist that your letting agent conducts a proper reference check.
3. Be vigilant of a negative attitude
When conducting a viewing, organising reference checks, or discussing move-in details, be vigilant of a negative attitude. If a potential tenant displays negativity during these interactions when they should be putting their best foot forward, they may be more likely to cause problems once they move in. One difficult tenant can have a significant impact on the overall harmony in the house, as they may start complaining about maintenance issues or other tenants, creating a negative atmosphere. Being aware of potential issues early on can help you prevent potential conflicts and maintain a positive living environment for all tenants.
4. Chat to their previous landlord
It’s a good idea to have a conversation with the applicant’s previous landlord to get a better understanding of their rental history. This can provide valuable insights into their behaviour as tenants, prompt payment of rent, and any potential issues that occurred during their tenancy. This additional step in the screening process can help you make a more informed decision when choosing your HMO tenants.
5. Create a welcoming and comfortable environment
Make your HMO property a pleasant and inviting place to live. This includes providing high-quality furnishings and ensuring adequate heating and lighting. When conducting property viewings, ensure the property is well-lit, clean, and smells nice, with no mess or clutter. A welcoming and comfortable environment during the viewing will give potential tenants a positive impression and increase their interest in renting your HMO property.
6. Have clear rules and expectations
Establish clear house rules and communicate them effectively to all tenants. This will help create a harmonious living environment, making it more likely for tenants to stay longer and respect your property.
You can this article about HMO House Rules for Tenants
7. Address issues promptly and keep tenants informed
When problems arise, such as maintenance issues or conflicts between tenants, address them promptly and professionally. Being responsive to tenants’ concerns shows that you take their needs seriously and are committed to ensuring their comfort. In cases where there may be delays in getting a workman to your property or if you have been let down by a delivery, it’s essential to keep tenants updated on the progress of the job. Keeping them informed demonstrates that you are a responsible and attentive landlord who values clear communication.
8. Foster a sense of community
Encourage tenants to socialise and develop friendships within the HMO property. This can be achieved by hosting social events, creating communal spaces, or facilitating communication through a WhatsApp or Facebook group.
9. Communicate regularly
Maintain open lines of communication with your tenants and respond to their enquiries or concerns promptly. Don’t rely solely on email, text, or WhatsApp, as important communication can sometimes be lost or misunderstood. Additionally, some tenants may appear more assertive or confrontational in written messages, but once you speak to them on the phone or meet them face-to-face, they may be more cooperative and open to resolving issues. By using multiple communication channels and showing that you value their feedback, you can build trust and increase tenant satisfaction.
10. Use a professional HMO letting agent
Working with a professional HMO letting agent can help you manage your property more effectively, from marketing and tenant screening to rent collection and maintenance. This can free up your time and ensure that your property is managed to a high standard, increasing its appeal to quality tenants.
Attracting and retaining quality HMO tenants is crucial to the success of your investment. By implementing these top 10 tips, you can create an appealing environment for potential tenants, increase tenant satisfaction, and ultimately enjoy a more stable and profitable HMO property.
If you need the expertise of a professional HMO letting agent to help with HMO management and attracting and retaining quality HMO tenants, don’t hesitate to contact us. We’re here to provide tailored solutions and support, giving you peace of mind and the confidence to grow your HMO portfolio.