HMO TIP #1 - Reduce HMO Room Voids with this ONE Thing That Most HMO Landlords Are NOT Doing
Rental voids or empty rooms can cripple your property investment. In this video, Stephanie explains the easy step you can take to achieve zero voids that will revolutionise your business. And the crazy thing is most HMO Landlords are not doing it!
Are You Suffering from Empty Rooms?
Cut Your Voids in One Easy Step
In this series of videos we’re sharing with you behind the scenes of how we run our HMO management business for success.
This week it’s gold dust as this one thing will reduce the voids that put a big dent in your profit line.
We take voids seriously and keep our voids as low as possible.
Even if you have 5% void which I know a lot of people think is acceptable.
Let’s look at what happens…
On a 5-bedroom house with a room rate of £400 per room your monthly gross rent is £2,000 per month and £24,000 per year.
When you lose 5%
You lose £1,200 per year and £6,000 every 5 years
Let’s say you have 10 properties
Then, with 5% voids, you’d lose £12,000 per year and £60,000 every 5 years!
So you REALLY have to get a rein on this
And keep your business running smoothly
Are you doing this ONE simple thing most HMO landlords are NOT doing?