A bespoke management service is being rolled out to support landlords and investors running HMO, or multi-let portfolios.
The service provided by Multi-Let UK, part of property management firm Pulse Property Network (PPN), is being launched in Leeds, Warwickshire, Luton, Milton Keynes and Bedford over the next few weeks, with plans to expand further across the UK in 2017.
Multi-Let UK currently manages, on behalf of landlords and investors, a growing portfolio heading towards 1,000 units of HMOs and house share accommodation, for graduates and working professionals, but hopes to expand further by helping more landlords and investors with HMO and multi-let portfolios tackle various challenges, from complex legal compliance requirements, mandatory and additional licensing, building regulations and an increased governance over the multi-let sector.
Daniel Hill (pictured), managing director of Multi-Let UK, commented: “Increasingly we are seeing HMO reports appearing in the news for breaching legal requirements and risking the safety of the tenants who live there. As a landlord of a fast-growing property portfolio of HMOs and multi-lets, I know how demanding the ever changing regulation, legislation, new license requirements and rapidly changing market conditions can be. It can be very demanding, time-consuming and stressful to undertake this journey alone.
“In a typical day, an HMO or multi-let landlord could be dealing with difficult tenants; chasing overdue rent; juggling finances; ensuring compliance with HMO legislation; redecorating a property; or evicting tenants for non-payment of rent."
Having managed to build a successful property portfolio himself, Hill decided last year that he would use his expertise to expand his business by providing what he described as “added-value services to other landlords”.
He continued: “From my research, I knew there were no specialist portfolio management companies with the right experience, knowledge and resources to manage HMO portfolios, offering accommodation exclusively to professional tenants. This is in contrast to the single let and student HMO markets, which have a number of well established and accomplished businesses.
“We set up Multi-Let UK to provide a full management service for landlord’s portfolios, giving them control and freedom, along with a high level of return for their investments. Multi-Let UK is the only national specialist multi-let portfolio management company that specialises in professional house shares and has built a reputation as the market leader in houses of multiple occupancy investment.”
For further information about the service provided by Multi-Let UK - click here.