At HMO Letting Agent, we specialise in converting standard residential properties into profitable Houses in Multiple Occupation (HMOs). One of our most challenging yet rewarding projects involved transforming a three-bedroom rental house into a versatile five-bedroom HMO with a home office.
Navigating Space Limitations
Our original vision was to convert the property into a six-bedroom HMO. However, the limited size of one of the rooms presented a significant hurdle. This room was too small to meet the requirements for a bedroom under HMO regulations, and there was no practical way to expand it. Instead of seeing this as a setback, we turned it into an opportunity, transforming the room into a desirable office space, recognizing the increasing need for dedicated workspaces at home.
A unique feature of this property was a small balcony attached to one of the bedrooms. While the balcony added charm to the room, it posed a safety concern. We took careful measures to ensure the balcony was secure and safe for use, allowing tenants to enjoy their private outdoor space without worry.
Challenging Retrofitting Requirements
The property’s electrical system was outdated and not suitable for a modern HMO. Our team had to completely overhaul and update the electrical system to meet safety regulations and cater to the increased power needs of the tenants.
The conversion process also revealed plumbing issues, which were exacerbated by the addition of two new bathrooms. We faced the challenge of redesigning the plumbing system while minimizing the impact on the property’s structure and aesthetics.
Despite the challenges, we successfully obtained the HMO licence from Wandsworth Council and let and managed the property, achieving a monthly rent of over £4500. The addition of the home office proved particularly beneficial as one tenant, who worked from home five days a week, was willing to pay a premium for its exclusive use.
This case study showcases our ability to turn challenges into opportunities at HMO Letting Agent. We excel at transforming properties into high-performing HMOs, ensuring they meet the needs of modern tenants and provide significant returns for property owners.