004 | The 11 Steps You Need to Know for Running Your HMO Property Business

RESOURCE LINK

1. The HMO Experience Website (http://www.thehmoexperience.co.uk/)
2. Download the 11 Steps to Running your successful HMO Property Business and other FREE RESOURCES (http://www.thehmoexperience.co.uk/resources-page)
3. Sign up for weekly hacks and tips for starting and scaling your HMO Property Business (https://www.thehmoexperience.co.uk/subscribe)

IN THIS EPISODE

Your podcast host Jamie Madill chats with Matt Harris of MiRentCo London about the eleven steps that are involved in running your profitable HMO property business. They include finding suitable property, working out your profit, tenant viewings, providing excellent customer service, and systemising the running of the property so you enjoy the income without needing to work hard.

Looking for steps to help you build a profitable HMO property business? Make sure you listen to this episode of The HMO Experience Property Podcast.

KEY TAKEAWAYS

1. Being up front with agents and landlords about what you do and how you can help them is the best approach to building a steady supply of good property.
2. Using an email template to present your offers makes you look professional, it gives a detailed explanation of what you’re business will do and how it will look after the property. This helps build trust with agents and landlords.
3. Have a property ‘on-boarding’ checklist to ensure you don’t miss anything, such as setting up wi-fi or checking the heating works.
4. Great advertising fills your rooms quickly and you get paid rent faster.
5. Open communication and great customer service helps you deal with issues faster, and keeps your customers happy meaning they stay longer.

BEST MOMENTS

‘Honesty always wins, just saying look this is who I am and this is what we do, helps you start building rapport with agents’

‘We use the rental profit to cover the furniture lease costs’

‘If you provide great customer service, they will stay longer and you get paid more’

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CONNECT WITH THE HOSTS

Matt Harris - https://linktr.ee/iammattharris

Jamie Madill - https://www.facebook.com/jamiemadillproperty/

Steve Mitchell - https://www.facebook.com/steve.mitchell.9843