What it takes to be a good HMO manager?
When it comes to handing over your most prized investment possession you’ll want to ensure it’s being looked after and in the best possible hands. This is to ensure you can have a hassle free and hands off approach to your investment and also enables you to spend your time elsewhere. As a result, choosing the right HMO management company is going to be absolutely crucial to not having any property headaches and be able to generate a passive income.
At Titian Homes, we’re experts in managing HMOs so in this blog we have summarised the most important qualities and aspects we feel are key when considering a potential HMO management company.
Here are some questions you can ask...
- Are they a team who cares and can offer a personable approach to your property?
The last thing you want is your property getting left behind when a management company is busy as they ultimately won’t dedicate the time your property deserves. You’ll suffer with more voids, a neglected property and tenants who feel like aren’t getting heard.
With Titian Homes, we are genuinely a team that cares about the properties which we take into our portfolio, we hand pick the properties and like to spend getting to know the landlord and what they need from us. We take a personable approach and treat each property as if it’s our own.
- Will they advise you and put forward recommendations
Sometimes the market may be trickier, so your management company needs to be agile and react to the market trends. Your management company should be taking feedback and putting forward ideas to you which can help your property get more interest.
From things like, recommending you renovate or freshen up a space if it’s looking tired and putting off potential tenants. These little things can make a huge difference and it’s your management company job to be your eyes and ears and keep you in the loop.
- Can they help with dressing your property?
When it comes to conducting viewings with tenants, your rooms and communal spaces need to look inviting and welcoming. With so much competition, your property needs to stand out. Will your management company take the time to dress your rooms? This can be anything from adding bedding, cushions, pictures, plants, towels and accessories.
- Do they have a comprehensive tenant referencing process?
With each property, your management company will need to choose tenants very carefully – firstly, deciding on the type of tenants in the first place e.g students or professionals and then once you have agreed on a tenant type, they can tailor your tenant search using a set of criteria, from salary ranges, to type of occupation and working hours.
If a potential tenant ticks all of the above, next your property management company needs to conduct comprehensive referencing from ID, to confirming salary, bank statements, employer reference, credit checks, landlord references and more.
- Do they have a slick tenant onboarding?
The tenant onboarding experience is important as it’s a time to set the household expectations, give a detailed house tour, go through inventory and emergency points of contact moving forward. Your management company should aim to build a good relationship from the get go and give a professional experience to tenants.
- Do they have amazing communication?
They say communication is everything and this is especially the case in managing HMOs. You’ll want your manager to always be at the end of a phone and give you regular updates from time to time.
- Are they organised & up to date with compliance?
Organisation is key and the last thing you want is things getting missed. Can your management company demonstrate their professionalism and organisation? The best way is to get references from other landlords they have worked with.
- How does their property maintenance and inspections work in practice?
Do they dedicate time to carry out full property inspections and how do they help maintain your property?
How it works at Titian Homes?
We do all the above and much more completely free of charge with no fees whatsoever.
- No tenant finding fees
- No management fees
- No referencing fees
- No maintenance costs
We offer guaranteed monthly rent solutions for landlords as well as carrying out light property refurbishments.
Drop us a message and chat to us – firstname.lastname@example.org