HMO Fees and Services

1. Licensing and Compliance:

• Ensuring the property meets local council HMO licensing requirements.
• Conducting risk assessments for safety and health standards (e.g., fire safety checks).

2. Property Management:

• Tenant screening to ensure compatibility among tenants.
• Lease agreements tailored for multiple occupants.
• Regular property inspections to maintain safety and quality.

3. Maintenance and Repairs:

• Coordinating regular maintenance (plumbing, electrical work, etc.).
• Immediate response for urgent repairs to uphold safety standards.

4. Rent Collection:

• Collecting rent from multiple tenants, which requires clear record-keeping.
• Handling any financial disputes among tenants.

5. Utilities Management:

• Arranging and managing utility bills for shared accommodations.
• Ensuring proper settings for communal areas (e.g., heating, hot water).

6. Conflict Resolution:

• Mediation services for tenant disputes, ensuring a harmonious living environment.

7. Marketing and Tenant Placement:

• Promoting the property to attract suitable tenants.
• Conducting viewings and interviews with potential tenants.

Management Fees:

• Generally a percentage of the monthly rent, often higher due to increased management complexity (typically 8% to 15%).

Licensing Fees:

• Costs for obtaining and renewing HMO licenses as required by local councils.

Maintenance Fees:

• Ongoing maintenance costs can be higher due to the shared nature of facilities, including regular cleaning services.

Tenant Placement Fee:

• A one-time fee for finding new tenants, often equivalent to a percentage of the first month’s rent.

Utility Charges:

• Additional charges for managing shared utilities, which may be billed to tenants collectively or individually.

Eviction Costs:

• Legal fees and court costs associated with evicting a tenant if disputes arise.

Cleaning Fees:

• Charges for cleaning communal areas, which may be deducted from tenant deposits or charged separately.