Family House versus Social HMO on 5 Year Net Contract
It is now a HMO that is under contract for 5 years with a strong possibility of another 5 year renewal as we have had in 2014 and renewed in 2019 with Serco. Mears has a 10 year contract with the home office and will probably renew. Mears has a shortage of HMOs.
Rent is almost double than the house next door
Massive amount of money invested
Stockton on Tees is closed for any new Mears HMOs
Quiet with no voids…no management and no maintenance – only if structural is landlord responsibility.
When purchased the property was unliveable