Letting Agent Property Management Edinburgh Agency Residential Property Full Tenant Find Only

HMO – Houses in Multiple Occupation

Scottish Government considers living accommodation as an HMO if it is:

  • Occupied by three of more persons from three or more families; and
  • Occupied by them as their only or main residence; and
  • Either a house, premises or a group of premises owned by the same person with shared basic amenities.

 

Key Facts:

  • Maximum fine for letting unlicensed HMO property is £50,000.
  • HMO properties generate higher yields, but HMO management is time consuming.

 

What do we do:

  • HMO project management at no additional cost (full management only).
  • Advice on valuation and presentation.
  • Advice on HMO standards and HMO licenses. Filling in HMO documents.
  • Marketing: to let board and Zoopla, Lettingweb and ELC website.
  • Interviewing prospective tenants and conducting accompanied viewings of the property.
  • Comprehensive independent reference and credit checks on all prospective tenants.
  • Providing detailed inventory and schedule of condition, including photographs.
  • Prepare full tenancy agreement, signing and serving the appropriate notices.
  • Organise Legionella Risk Assessment, Portable Appliance Testing, Electrical Installation Condition Report.
  • Organise smoke and heat detectors, fire blankets and fireproof additions.
  • Deal with rents, deposits and deposit returns.
  • Interim and final inspections.
  • Cover council inspections.

 

Why do you need a good HMO agent?

  • Reducing HMO turnover
  • Tenant selection
  • Dealing with requests of 3+ tenants
  • Avoid fines up to £50,000

Copyright by ELC