🏘️ HMO Walk-through Tour with One of our HMO's | TOP TIPS with Nicholas Wallwork 🤩

Описание: IN THIS VIDEO: If you weren't yet considering investing in or developing an HMO, this completed conversion will probably provide all the convincing you need. Sleek, practical and perfectly tailored to our target renters. 👇👇LINKS AND INFO👇👇

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// SUMMARY

In this video, I walk you through the second of our three HMO conversions that we've been working on since December. Three may seem a lot to have knocked out in just a few months, but once you grasp the formula, you'll see how you can simplify the process with some KEY ARCHITECTURAL & INTERIOR DESIGN ELEMENTS.

BACKGROUND:

👉 This was previously a family home which we've converted to a 6-7 bedroom HMO.
👉 Key to the conversion was creating en-suite bathrooms for as many of the bedrooms as possible. The conversion of the dining room into two bathrooms served this goal well.
👉 Remember, that the HMO rental market doesn't necessarily expect a communal living area or dining room. In most cases, a large kitchen containing a breakfast bar will suffice.
👉 In this particular conversion, of the two bedrooms which are NOT en-suite (serviced by one separate bathroom), one or both could be repurposed as living areas as an option.
👉 Use existing bathrooms where possible, upgrading the fixtures.

Your ➡️ TOP CONSIDERATION ⬅️ on an HMO should be the type of tenant you wish to attract. In this case, the conversion is designed to meet the requirements of the young professional who is after higher-end finishes and functionality.

Here are the ➡️ KEY ELEMENTS ⬅️ which are guaranteed to attract said tenant, as well as practical TIPS FOR FUNCTION & FORM that should be taken into account on any HMO conversion:

✔️ Finishes throughout: Modern, minimalist, sleek, higher-end.
✔️ Colour-palette: White, grey and chrome. Consider painting a feature wall in each bedroom - in this case, we've done so using the grey from our palette.
✔️ Entrance area: We've covered the flooring of the entire area leading to the stairs with a mat-well in black. It may not be the most attractive of floorings, but it'll go a long way towards protecting any other carpeting throughout the HMO.
✔️ Bedroom flooring: The ground floor bedrooms feature sleek laminate flooring. The stairs and upstairs bedrooms are carpeted, to reduce upstairs-to-downstairs noise. The selected carpet is a thick, hard-wearing – yet soft to the touch – grey-fleck option.
✔️ Bedroom staging: Beds with crisp white linen, a scatter cushion or two, a piece of modern feature art per room, and one or two other soft-furnishing items such as a plant.
✔️ Built-in wardrobes. Glass-fronted are great for increasing perceived volume of the room.
✔️ Key feature of this particular HMO: A large garden, to which we've planted some extra trees. The kitchen area, as well as one of the bedrooms, has double-door access to the garden.
✔️ Kitchen finishes: White high-gloss cabinets, concrete-effect worktops, quality chrome fixtures and fittings.
✔️ Kitchen feature: Breakfast bar serving as an optional sociable space.
✔️ It's all about the FEELING. It's not about the features of your product, it's about the benefits of your product.

⭐ Keep your standards high.
⭐ Keep the property well-maintained, responding quickly to issues.
⭐ Keep good tenants!

// WHAT TO WATCH NEXT

Struggling to Maximise your HMO? How about a Garage Conversion! Get your 6-Bed HMO with this TOP TIP:    • Struggling to Maximise your HMO? How about...  

// YOUR QUESTIONS

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👉 Share in the comments!

// SUBSCRIBE

I'm Nicholas Wallwork, CEO of propertyforum.com and Redbrick.

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// MENTORSHIP

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👉 nicholaswallwork.com/mentorship

// INVEST

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