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Why we think Buy To Let and HMO's are best over Serviced Accommodation (SA):-Returns when you take into account all of t...
30/06/2023

Why we think Buy To Let and HMO's are best over Serviced Accommodation (SA):

-Returns when you take into account all of the additional costs (like regular cleaning/linen changes and higher agent fees) are not much higher and may be lower in SA
-Many properties do not work for SA (e.g. in areas where the competition is too high or there is not enough demand for short stays)
-They are a lot more work! Having guest changeovers every few days certainly means there is a lot to be done!
-The risk of parties! SA properties attract the odd party here and there. All well and good for the guests, but can be a nightmare for the owner.

That said there is the potential to earn more revenue so you really have to decide what's right for you.

Check us out at: www.peoplemove.co

The dangers of Black Mold Black mold can cause: CoughingSneezing Skin to become dry and scaly Itchiness in the eyes, nos...
11/02/2023

The dangers of Black Mold

Black mold can cause:

Coughing
Sneezing
Skin to become dry and scaly
Itchiness in the eyes, nose and throat
A blocked nose
A post nasal drip

Eliminating Black Mold

Firstly the key is to cut off the mold's access to water. It can't grow without moisture.

The Centers for Disease Control and Prevention (CDC) recommends:

-removing visible mold growth from hard surfaces with a commercial mold removal product, hot soapy water, or a mixture of 1 cup of bleach per gallon of water. A person should not mix bleach with other cleaning products
-removing and discarding soft or porous materials — such as carpets, insulation, or wallboard — that show signs of mold
-wearing protective clothing while cleaning, such as rubber boots, rubber gloves, and goggles

But even better than eliminating black mold is to prevent it in the first place!

Check out the full article here: https://peoplemove.co/blogs/news/black-mold-a-landlords-nightmare

Is the housing market on the verge of collapse? Here's some fun facts: -The longest it took house prices to double betwe...
28/01/2023

Is the housing market on the verge of collapse?

Here's some fun facts:

-The longest it took house prices to double between 1952 and 2022 was 14.25 years.
-Savills predicts that the housing market will fall 10% in 2023
-The main reason for fear in the housing market is that mortgages are becoming too expensive... but did you know that mortgages might be starting to fall!

Check out the full article here: https://peoplemove.co/blogs/news/is-the-housing-market-going-to-collapse-in-2023

Disclaimer on the website.

Here are Some Pro's and Cons of Using a Management Company: Pro's of Using a Letting Agent-The Landlord will have much m...
20/01/2023

Here are Some Pro's and Cons of Using a Management Company:

Pro's of Using a Letting Agent

-The Landlord will have much more time which free's them up to focus on the things that are most meaningful to them.
-The Tenant will have constant access to a professional team, without having to worry about whether the Landlord is free.
-The Letting Agent will probably find the tenants faster, and find better quality tenants that maximise your profits and reduce the number of issues experienced.
-The Letting agent will deal with problems faster and more cheaply due to the network of contacts that they have. The Landlord might otherwise struggle to find good people for repairs and maintenance for example.
-It's really hard to keep up with all of the changing laws and legislation. Letting Agents are experts and should be up to date on these things.

Con's of Using a Letting Agent

It costs money. Generally 10 to 15% +VAT of the rent (PeopleMove charges just 10%).

-Lots of hidden fees. Some Letting Agencies have additional charges for everything they do. Whether it is changing a light bulb or visiting the property for an inspection. These fees can add up (PeopleMove has no hidden fees).
-Some Letting Agents are bad. I have my own portfolio and have come across a number of tenants and landlords that have had bad experiences with Letting Agencies (that's why we set up PeopleMove: we wanted to create a Letting Agency that put People First).
-You have less control. Generally the Letting Agent will try to follow your guidance on how they should deal with situations, but there is always likely to be smaller decisions that have to be made. And these are often made without consultation (to avoid bothering the Landlord every 50 seconds).
-It can be hard to switch off. Most Letting Agents charge a 'Tenant Finding Fee' and a Termination Fee. PeopleMove is different we don't charge a Termination Fee, and may be willing to waive the 'Tenant Finding Fee' also if you get in touch today.
You may have a more detached relationship with the tenant, in fact you might not know anything about them - depending on how much you want to be kept in the loop.

The full article and disclaimer are here: https://www.peoplemove.io/blogs/news/should-i-use-a-lettings-agent-or-manage-myself-in-2023

Did you know that we are more active on instagram than we are on facebook! Check us out now at:
05/01/2023

Did you know that we are more active on instagram than we are on facebook! Check us out now at:

205 Followers, 67 Following, 26 Posts - See Instagram photos and videos from PeopleMove (.co)

Our property management portfolio is expanding! We have now moved into the Serviced Accommodation Space. We recognise th...
05/01/2023

Our property management portfolio is expanding!

We have now moved into the Serviced Accommodation Space. We recognise that it is an option that is generating more revenue for landlords - and with our mission being to make people's lives better: we want to help Landlords succeed in the Serviced Accommodation space!

We wrote a blog post that explains more about Serviced accommodation, you can check it out here: https://www.peoplemove.io/blogs/news/what-is-serviced-accommodation

Basic HMO Regulations | Not Just Your Ordinary Buy to LetYou can make a lot more money by letting out your properties ro...
30/12/2022

Basic HMO Regulations | Not Just Your Ordinary Buy to Let

You can make a lot more money by letting out your properties rooms separately, rather than as one entire property. There are additional costs, which can be covered in a different post - but more importantly there are more regulations that you have to follow! Here are some of them. Please note that individual councils may adjust the rules and regulations for HMO's in your area.

Minimum Room Sizes

If you have a HMO, the minimum room size for a person is 6.52 meters squared. So when you are viewing a property that you might think is a good HMO, don't count the number of bedrooms. Count the number of potential bedrooms that are over 6.52 meters squared.

Licences

You need a HMO licence if all of the following apply:

It is rented to 5 or more people
they share facilities like a toilet, bathroom or kitchen
at least one of the tenants pays rent (including if their employer pays it for them).
Some councils also have a 'Selected Licensing Scheme', which requires a licence in other bespoke circumstances.

A HMO licences are valid for a max of 5 years.

Other requirements

Send the council an updated gas safety certificate each year.
Install and maintain smoke alarms (you can include in the tenancy agreement that the tenant has responsibility to change the batteries, and to inform you if anything is not working as it should).
The council may add other conditions to your licence, for example improving the standard of your facilities. They will let you know when you apply for the licence.

The fines for renting out an unlicensed HMO are not capped (they can be unlimited).

Article 4 Areas

There are a growing number of areas that are 'Article 4 Areas'. These are areas where Planning permissions is required in order for you to turn your property into a HMO. Please note that the council decided to apply Article 4 in that area. Thus, they have some reason why they are against having additional HMO's in the area. They are therefore unlikely to grant planning permission in such an area. Planning permission is completely separate to Licences. You need both planning permission and a HMO licence to set up a new HMO. If Article 4 is not present in an Area then you can convert a property to a HMO as part of 'Permitted Development Rights' (you are therefore guaranteed planning permission) - but still need to abide by the wider HMO regulations.

Fire Regulations

HMO's require a Fire Risk Assessment according to the Health and Safety Rating System. A competent individual can perform this 'Fire Risk Assessment', that can theoretically be you, your managing agent or a qualified agent. But you should consider if you are qualified.

Fire Doors

HMO's require fire doors. They need to be "30-minute" fire resistant, which means that they can contain a fire for 30 minutes. They also need to be self-closing. That means that the doors close themselves.

Escape Windows

A fire escape window is an unobstructed window that allows escaping from the property in an event of an emergency.

According to the Hertsmere Council an escape window is defined:

"The window must have an unobstructed openable window area that is at least 0.33msq with at least the width or height dimension being a minimum of 450mm.

The bottom of the openable area (window cill level) must be not more than 1100mm, and not less than 800mm above floor level.

Windows are suitable for means of escape where the drop from the window to ground level is one storey only (not exceeding 4.5m from first-floor level to outside ground level).

Note: The ground below the windows must be flat and free from hazards (low walls, railings etc).

Where security is provided on windows, means of the opening must be readily available within the room.

Where primary access to a sleeping room is through a high-risk room (i.e. communal, kitchen or living room) an alternative suitable means of escape must be provided via a door or escape window directly to the outside."

Escape Routes

Escape routes need to be factored into account from all rooms, and they need to be free from obstructions.

Signs

There needs to be "Exit" signage that is used to easily identify exit routes/doors. These must be green and white with a size of 100mm x 500mm. They need to be placed above the exit door (both at the front and back of the house) - as well as on each landing level.

Fire Alarms

If there is a one or two bed HMO (where the floor areas is less than 200sqm), a grade D, Category LD3 smoke alarm system should be installed.

Grade D means they are mains powered - but with a back up battery system - alongside an interconnected wire or radio signal.

But if your HMO is above two floors you can utilise a 'Grade A' system. This is a conventional fire alarm panel, with fire alarm detectors, call points, sounders and beacons specified according ot the layout of the property.

Alternatively you can use a 'Mixed System' - this includes a combination of a 'Grade A' and a 'LD3' alarm system.

Emergency Lighting

You can use borrowed lighting in smaller HMO's e.g. street lights or torches. A smaller HMO should have floor area of less than 200sqm. Larger HMO's need a lighting system designed in compliance with the BS 5266 Part 1 standards. The lighting needs to last for three hours.

Firefighting Equipment and Facilities

It's necessary to provide fire fighting equipment that will allow tenants to put out smaller fires before they escalate. A potential good guide is to have a 'multi-risk' fire extinguisher of 13A situated in the Kitchen Area and a Fire blanket in each room used for cooking and a carbon dioxide (CO2) extinguisher near the electricity cupboard (mains).

Not following Fire Safety Regulations

You could be subject to potential jail time or arrest if you do not comply with fire safety regulations. Ultimately, a lack of fire safety could be the difference between a fatality occurring and it not occurring. At PeopleMove we strive to adhere to the above standards, feel free to get in touch if you require our assistance or property management. We do manage HMO's:

Our Services

If you would like us to manage your properties please get in touch:

Email: [email protected]
Number: +447496320549
Book a call: Book a Meeting Here
Check out our property management website: www.peoplemove.io

PeopleMove is a Letting Agency and Property Management business that puts people first. We go above and beyond to ensure the best possible experience for both landlords and tenants. This is reflected in our low fees, the lack of hidden fees and how we go above and beyond for our clients.

Deal Sourcing is more challenging than you might think. From sending hundreds of leaflets, to targeted social media mark...
20/11/2022

Deal Sourcing is more challenging than you might think. From sending hundreds of leaflets, to targeted social media marketing campaigns: we search every nook and cranny for the best deals!😄

What is a HMO? It is a house of multiple occupancy. Where more than one household lives together in one house. This can ...
28/10/2022

What is a HMO? It is a house of multiple occupancy. Where more than one household lives together in one house. This can allow people to find more affordable housing, that also can help them meet other people and help them feel part of a community.

If you have a property and you think it might make a great HMO, why not reach out to us?

We love letting properties, but we also love a good picture. Look at this amazing drone picture : )
21/10/2022

We love letting properties, but we also love a good picture. Look at this amazing drone picture : )

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