HMO / Multi Lets

A house of multiple occupancy is simply a property that is used by a number of none related people sharing the property and some facilities. Usually more than five people over three storeys. A Multi Let differs only in that it is has to be on less than three floors and does not require a licence to operate.

The benefits of HMO’s and Multi Lets are that; to the tenant they get an affordable accommodation, in a nicer property and usually in better location, sharing with others in a more socially inductive environment, at a lower price than renting a single stand alone flat.
To the landlord, they get a much higher rental income that is not reliant on a single tenant, ensuring the constant positive cash flow and rental return.

All sounds great right? However, choosing the right property in the right location with clear expectations and all due diligence completed long before purchase is key. Ensuring that all stress tests are completed with positive expectations. Allowing for interest rate rise’s, confirmation of high demand and a list of interested tenant’s is vital to ensure the success of the project.

Different councils around the country have different regulations, definitions and requirements, so knowing what they are, how to work within and what needs to be done to ensure there are as few delays as possible is also a prerequisite to any project.

The final piece of the puzzle to successful HMO / Multi Let projects is having the right team, systems and processes in place to ensure that all runs smoothly, adhering to all regulations and keeping the tenants happy with the property at close to maximum occupancy.

At Optimum, we are able to provide you with the very best service in HMO & Multi Let portfolio building possible.
Highly analysed to the last detail, conservatively forecast and with the professional teams in place. We guarantee to over deliver in all aspects of the project.

Example of Multi Let Figure Work.

 
TitleValue
Purchase Price £ 79,000  
Refurb Costs £ 20,000
Sols & Survey £ 1,300
Total £ 101,300
2 Double Rooms £ 400 per month each
 2 Double Rooms £ 500 per month each
Total Per month £ 1800 p/m
All Running Costs
Including Maintenance and Voids  
£ 503 p/m
Profit Per month £ 1,297
When Refinanced To release Capital
Net Return on Money left Invested is
 36.8% p/annum

 

How does this compare with your current returns? all from owning property with the right strategy! Have a read through our example brochure to see how we present the information.

Multi Let Pic

We offer four levels of tailored service.

Sourcing, costing’s and negotiation of the HMO, through to exchange of contracts. This is suitable for the experienced property person who knows the industry well and work within it.

HMO / Multi Let In A Box, where we source, then project manage all the work, any licensing requirements, through to a fully working HMO. This is for the individual who, simply may not have the time to set things up but has the time and experience to manage the HMO / Multi Let.

HMO - Joint Venture. This is where we take care of everything, from the start. All of the above, plus we manage the HMO as we move forward. By ensuring that once operational, all systems and processes are in place and running smoothly we can ensure that your HMO is a continual success.  This is perfect for those that are looking for a secure, asset backed return that creates a much higher return than can be easily found elsewhere, with zero hassle or worry. We take care of everything for you!

For those wishing to build a profitable property portfolio, we offer the flagship Optimum Property Portfolio Builder.  Each portfolio is individually designed to perfectly match your requirements and ensure both the protection and success of the portfolio. Structured to provide longer-term security with high levels of income we work closely with you to build and manage the ideal portfolio. Members benefit from reduced costs that work more in your favour, whilst losing none of the advantages of a dedicated partner with a True Vested interest in you.

We source many of these, often with higher returns. Contact us to begin your journey into Profiting in Property. We look forward to being of service.

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