House In Multiple Occupation
|HMO Multi-Let Full Management|
All property where three or more people live together, who are not related, is a House in Multiple Occupation (HMO). This does not necessarily mean that you require an HMO Licence.
Only houses with three or more storeys and five or more people residing there are licensable HMO’s. A licence lasts for up to five years and costs around £700.00.
It is important to appreciate that it is a legal requirement to have the correct licence in place, if one is required for an HMO and that penalties of up to £20,000 can be levied against landlords in violation of these obligations. Furthermore, it is important to understand that there are also required standards to be met and obligations upon landlords of non-licensable HMO’s, which are enforceable by the local council.
Over the last 5 years, Go Let has fully managed over 22 multi-let HMO’s with up to 20 bedrooms in some. We have experience with the local council housing, environmental health and planning departments and we are well versed in council expectations.
Multi-Let property can be extremely profitable, if set up and managed correctly. Go Let have very high levels of occupancy and achieve the best possible rent for each room.
It is important to stress that HMO’s cannot benefit from our rent guarantee unless they are let out on a single AST, not as a multi-let.
For more information, please call or visit the office to speak to Martina.
Covering Bournemouth & Poole, we offer block management services for residential properties. All team members are qualified in block management, via the Residential & Estate Management course.
Below is a list of the services which are included in our block management:
• Arrange and attend up to four directors meetings per year
• Arrange a venue for an AGM and take appropriate action resulting from the meeting
• Conduct quarterly inspections of communal areas and grounds, in order to determine possible management and maintenance issues
• Instruct professionals where necessary to conduct condition reports and valuation assessments
• Manage site staff, where employed by the client inc. PAYE and NI
• Arrange and manage minor works
• Manage maintenance contracts and long term agreements
• Keep adequate records and filing system, in compliance with prevailing legislation
• Provide statutory information to the client, where necessary
• Arrange buildings and other insurances, and deal with insurance claims
• Provide the LEASE, ARHM, ARMA complied “Living in Leasehold Flats” guidance booklet as necessary
• Provide the client help and advice regarding matters such as rent reviews, regulation, interpretation and legislation
• Liaise with the client, directors and /or residents association
• Deal with day to day communications with lessees, working to resolve any problems arising
• Keep clear accounts records and facilitate access to records where needed
• Produce annually, service charge and reserve fund estimates, based on current expenditure and budget
• Produce and provide information appropriate to enable the accountant to produce the necessary year end accounts
• Manage and maintain bank accounts and make payments in a timely manner, keeping clear records
• Administer and provide statements for any reserve / sinking fund accounts
• In relation to ground rent and service charges, create demands, summaries, manage collections, take further actions as appropriate, send reminders, chase and account for arrears, make payments to the freeholder and keep clear records.
If you would like a quote for block management or more information, please call the office and speak to Martina or Georgina.