REKA Property Management ltd

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How to Attract Tenants… Even During Quiet Times The private rental sector has regained momentum after the initial decline following the first coronavirus wave. The impact of the coronavirus saw a fall of approximately 50% in the demand for rentals.  The good news is that the fall in demand has rebounded, and the increase in demand is consistent across the market.  What’s more, the annual rental growth is expected to grow more than last year. With a potential second wave of coronavirus, it is important that you focus on attracting your ideal prospective renters, in case there is a decline in rental demand. This article looks at some ways you can attract tenants to rent your home, and hopefully, keep them long-term. Step 1: Get your property “rent-ready” Before you start to list your property, make sure it is ready for potential renters. This means making sure it is safe, […]

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How To Convert Your Property into a HMO

A house in multiple occupation, better known as HMO, is a property that is rented to three or more tenants, who aren’t part of the same household, that share amenities.  The good news, HMO’s provide more people with affordable accommodation, while generating a rental income increase of four to five times your current return – compared to a single tenanted property. If you are considering converting your current property into an HMO, here’s what how to do it. Step 1: Location, location, location Before you consider converting your property to an HMO, check that it is in the right location. For example, a busy student area or close to good transport connections. Step 2: HMO Licensing A critical legal aspect of letting an HMO is getting the relevant licence. If you’re letting an HMO, it’s highly likely you’ll need some sort of licence to ensure that the property: is safe for […]