An 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 … » Read more
Does your company provide a great working environment? 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 … » Read more