Flats to HMO

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Hi Everyone,
Ill try to keep this short.

Had 2 x 2bed purpose built flats in a detached block for 20yrs, one above the other so concrete floors etc. No problems renting them out, no debt on them and earning a nice £850pcm between them so all great.

I am considering converting the block into a HMO of 7 en-suite rooms plus comunal kitchen that could potentially earn about £1900pcm.

It may be worth noting that im a builder so electrics, plumbing, walls, firedoors, alarms etc are not a problem.

What i need if you all could be so kind is a bit of advice on the managing of HMO's as this is something ive never done.
Do you get more tenant problems?
Are you constantly moving people in/out because they only stay a few months?
What would be expected in an ensuite room? (bed?, fridge?, tv?, wardrobe? etc)
How is the council tax worked out? Per room?
Is the extra money worth any extra hassle?

Any more advice is welcome
Thankyou all

20/08/2017 13:02

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Martin Co
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