Though returns in the lettings market in North London are extremely attractive, HMO property offers you as a Landlord an even more lucrative return on your investment.
However, the management of HMOs (Houses of Multiple Occupancy) can be particularly time consuming, with additional compliances and certifications to deal with in addition to the administration of perhaps 5 or 6 individual tenants.
At Ariston Property, we have a huge amount of experience in letting and managing HMO properties.
We look after HMOs across our area, which takes in HMOs in Hornsey Rise, Archway, Finsbury Park, Holloway, Crouch End, Stroud Green, Islington and surrounds.
We can advise you on whether or not your North London HMO will require a licence, as well as on the various safety regulations (fire safety, planning etc) with which you must comply.
Managing HMOs requires both technical expertise and diplomacy.
The property will usually be occupied by individuals with no prior relationships, and so care is required to keep the property tenanted while balancing the mix of occupants. In the end, the tenants have to co-exist, even if only when passing in the hallway, and so we go out of our way to place compatible individuals.
We have a continuous demand from professionals (in particular young professionals) who would like to rent rooms in HMOs in North London, and so specialise in keeping properties full and thus avoiding voids which erode return.
In managing your North London HMO property, we will: