30/06/2020
So it’s been 6 months since we’ve had our first R2RHMO 🏡. It’s been a real 🎢 so I thought I’d share some of my learning points 📝 for people who are just starting or about to take on a HMO for themselves.
1. Due diligence on potential tenants ❗️
Tenants come from all sorts of different backgrounds so it’s important to ask the right questions to find out more about them. Spend time getting to know them during a viewing. One thing I do is check all social media about them as this can give you ideas on what they’re like.
2. Don’t take shortcuts ❌
This is for when there’s a Maintanence issue. Rather than providing a temporary work around, just fix it. Saves you a lot of hassle later down the line. Can also include adding things to the house that will benefit the overall operations of the household. It may cost you, but save a lot on hassle and time ⏰
3. Communication 📲
This isn’t for just chasing on rent. It’s also to build a rapport with your tenants and, sometimes, you can even find out if there’s issues going on in the house 👀. It can even be a quick catch up to find out if they’re comfortable. It’s little things like this that ensures you do have long term tenants ✅
This is especially true during Covid! 🦠
4. Always market your rooms 💻
You always need a tenant database. You’ll never know when you’ll get a void so ensuring you have tenants you can call is vital to ensure you get 💯 occupancy all the way through. I still have all my ads up and the amount of people messaging me is growing! 📧 Even if I take up my next deal 🏠 , I’ll have potential tenants I can call to fill up rooms
5. Cleaners are your best friends! 🧽
I’ve learnt how valuable cleaners are. They not only make your house spotless but also report to me of any issues. I think definitely try a once a week clean (depending on your cash flow), plus doing it every week means they don’t spend too long cleaning so for me, my bills aren’t as high. 💰
If you any questions or like to work with us please send us a message and we can arrange a call 📞
