Since Multi-Let UK’s launch in 2013, the firm has enjoyed early success on their own portfolio now manages, on behalf of landlords and investors, a growing portfolio heading towards 1,000 units of high quality HMOs and house share accommodation, for graduates and working professionals. Already, the firm has provided safe and secure homes for thousands of professional tenants across the UK.
With headquarters in Nottingham and offices in Lincoln and Derby, Multi-Let UK is opening an additional five offices in Leeds, Warwickshire, Luton, Milton Keynes and Bedford in May and June 2016. Multi Let UK plans to open further offices in 2017.
According to Daniel Hill, Managing Director of Multi-Let UK, landlords and investors with HMO and multi-let portfolios have many challenges to face, from complex legal compliance requirements, mandatory and ‘additional licensing, building regulations and an increased governance over the multi-let sector. Unfortunately, in many areas around the UK there are many HMO landlords providing poor quality accommodation, which discards these laws and puts tenant’s wellbeing and potentially lives at risk.
Daniel Hill comments: “Increasingly we are seeing HMO reports appearing in the news for breaching legal requirements and risking the safety of the tenants who live there. As a landlord of a fast-growing property portfolio of HMOs and multi-lets, I know how demanding the ever changing regulation, legislation, new license requirements and rapidly changing market conditions can be. It can be very demanding, time-consuming and stressful to undertake this journey alone.
In a typical day, an HMO or multi-let landlord could be dealing with difficult tenants; chasing overdue rent; juggling finances; ensuring compliance with HMO legislation; redecorating a property; or evicting tenants for non-payment of rent.
In spite of all the ups and downs, I have managed to build a successful property portfolio and came to a point last year, when I decided to expand the business, to provide added-value services to other landlords. From my research, I knew there were no specialist portfolio management companies with the right experience, knowledge and resources to manage HMO portfolios, offering accommodation exclusively to professional tenants. This is in contrast to the single let and student HMO markets, which have a number of well established and accomplished businesses.
We set up Multi-Let UK to provide a full management service for landlord’s portfolios, giving them control and freedom, along with a high level of return for their investments. Multi-Let UK is the only national specialist multi-let portfolio management company that specialises in professional house shares and has built a reputation as the market leader in houses of multiple occupancy investment.”
