Business Property

How You Can Convert Your Property into an HMO

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How You Can Convert Your Property into an HMOAn HMO, or house in multiple occupation, is a property that has been rented to three or more tenants who are not part of the same household or family. A lot of landlords have HMOs because they are considered a more effective way of running a rental portfolio. This is often related to being able to collect rent from a higher number of tenants, but the location of the property can also drive this decision.

There are some renters who choose to live in an HMO because the rental payments will generally be cheaper. They may also prefer to live with more people. House-shares are common among younger renters and students which makes HMOs a viable option for a lot of potential landlords.

If you are thinking of converting your property into an HMO, there are some steps that you need to work through first. This will include meeting the legal requirements to ensure that the property is habitable for multiple people. It’s advisable to consult property marketing services about these considerations.

Before You Start

It is important to note that the majority of HMOs need to have an HMO license. If you are going to rent your property to five or more renters from more than one family you will need a license. A license is also needed when your property is at least three storeys high and has shared bathroom or kitchen facilities.

If some of these criteria fit, but not all of them, you will still need to apply for a license. If you are unsure, you should contact your local authority. Your HMO license will be valid for five years and you need to have a separate license for each HMO property that you have.

To comply with the license, you need to ensure that the property has a valid gas safety certificate which you’ll send to the council once a year. Smoke alarms will also need to be installed and you will need a safety certificate for all the electrical appliances. These will need to be available on request.

Depending on the property and the work that needs to be done to convert it, you might have to get planning permission. When carrying out any of these activities, you should keep a record of all correspondence, applications and approvals. This ensures that you are covered in the future should any issues arise.

Converting a Property

When you convert your property, you need to first think about what your tenants are going to need and how much space they require. You should also consider the level of furniture and appliances that you are going to provide in the property.

In the five years after converting your property, it will be visited by the council who will carry out a Housing Health and Safety Rating System risk assessment. If there are any risks which are deemed unacceptable found during this visit, you will have to address them.

When converting, it is likely that you will … READ MORE

Business Property

Top Secrets – Making Your Office a Great Environment to Work In

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Does your company provide a great working environment?Top Secrets - Making Your Office a Great Environment to Work In If not, this guide from a property management company will help create a great working space for your employee, helping you attract and retain the best employee in the industry.

For a better understanding of why you should focus on making your company a good place to work, herein are top reasons to do so.

  • You make your staff feel valued as and an integral part of the company
  • You are better able to draw a lot more ingenuity and creativity from your employee, which increases your growth opportunities
  • Keeping your staff happy ensures you are better able to retain them, even when your competitors offer higher salaries
  • A great work environment improves your workers’ wellbeing
  • Improved workers’ wellbeing leads to better productivity and lowers sick days – which lower business costs and improves the bottom line
  • It is now known across the corporate world that for a business to thrive, they need to invest in employees’ wellbeing

Facebook and Google have developed their headquarters and campuses in a manner that encourages staff to stay on-site rather than go home. They have made the workplace a place to love and enjoy being in; their employees love the culture and environment in their workplace.

In these types of office environments, workers spend a lot more of their downtime together than is the case in other typical office environments.

While not every business is at liberty or has the capability to spend a lot of money on creating such headquarters, every business can take an innovative approach in creating a stylish and fresh workplace.

#1 Offer Your Employee Perks That Your Competitors Do Not

Ask yourself – what are the unique and great benefits that your workers get by working for your company? Why should a talent choose your organisation instead of your competitors?

Essentially, without offering your employee a unique reason to work and stick by you, attracting top talent will be difficult, if not impossible. However, the perks do not have to extravagant. They can be as simple as:

It is not always about the big headline perks. The small things matter, especially when they combine to provide a unique and satisfactory office environment.

You can cater to their coffee, healthy snacks, and fitness needs. While these are small and inexpensive perks (and somewhat inexpensive now), they are also very important in attracting and retaining talent whilst keeping the whole team motivated.

Combine physical perks (such as the free coffee) and career-oriented prospects.

#2 Hire the Right People

It makes very little sense to attract employees who are not the right fit for your organisation. They might have the right skills on paper but if their personality does not alight with your business characteristics and ethos, they may contribute to creating a bad workplace environment.

While you are working to create … READ MORE