Edinburgh HMO Landlords
Are you one of the many potential Edinburgh HMO Landlords with a property waiting to be let out?
Then let us introduce ourselves – We’re Cullen Property, Edinburgh’s HMO letting and investment specialists! Click below for free HMO guidance.
With specialist understanding of HMO property regulation, compliance, and development, we seek to provide unbeatable levels of service to Edinburgh HMO Landlords regardless of what stage they or their property are at. We already do so across our broad portfolio of circa 400 properties – of which roughly 55% are HMO – and have been involved with a large proportion of these HMO properties since sourcing and acquiring them on behalf of investors.
Edinburgh HMO Landlords often consider self-management, but if recent articles and case-studies of landlords facing heavy fines after neglecting their HMO duties are anything to go by, employing an experienced and clued up HMO specialist letting agency such as Cullen Property seems like the obvious choice.
Going it alone can be rather tricky for an HMO Landlord in Edinburgh if you are not fully equipped with the knowledge required to meet the ever-changing regulatory requirements or have the time to tend to your property throughout tenancies and ensure occupancy levels are maintained and remain compliant – an increasingly arduous task given the introduction of the new flexible PRT leases meaning that the length a tenant chooses to stay in your property is completely up to them, given that they provide a minimum of 28 days’ notice before terminating the contract.
So, let’s imagine you have a 4 bedroom HMO property in Marchmont which you currently let out to 4 individual tenants. One may choose to part ways and find a flat elsewhere, after only a few months after moving in. As the lease would be ‘joint and severally liable’, all involved would have to end the joint tenancy to release one tenant to then find another. This, of course, requires a lot of administrative work and a full legislative understanding which Cullen Property can provide, as well as combatting the issue of re-marketing on all popular platforms such as Rightmove, Zoopla, Citylets and Onthemarket to find the right tenants at the right time to then extensively background check and reference check them to evaluate suitability.
Maintaining occupancy levels in HMO properties is a very important factor to consider. At Cullen Property, we believe striking the perfect balance between housing quality, pricing and attentive service levels with our dedicated team approach helps us maintain a 95-98% average occupancy rate throughout the year and ensures steady passive income for you as a landlord. When tenants do depart, we keep detailed inventory records and monitor the condition of our landlords’ properties, so that the terms of the next lease are crystal clear to ensure our tenants are happy!
With Edinburgh’s expansive student population, there will always be a need for high-quality HMO properties in Edinburgh, and taking into consideration the worsening supply and demand issue for young renters, there has never been a better time to responsibly let high-quality HMO homes. However, we still maintain working relationships with all of the local Universities, their student unions and the HMO department at the council to make sure that we stay atop changing legislation and needs of the student tenants and work closely with reliable and high-quality tradespeople to maintain landlord properties as if they were our own.
HMO letting requires close attention to detail throughout the application process and acute awareness of the different HMO requirements such as:
- Room sizes
- Window sizes
- Fire equipment/detection
In short, HMO property management is our full-time job – it is often underestimated how much time and attention is required of Edinburgh HMO landlords to ensure that HMO properties are marketed, let and maintained responsibly to ensure nothing slips through the cracks and things are done properly and responsibly. So please, get in contact above by clicking Request Free HMO Guidance and our friendly in-house expert will talk you through all you need to know.
To receive a comprehensive checklist for all of the above requirements, please click the button below!