Yesterday we had a final walk through and inspection on a HMO Conversion project in Atherton. This HMO will be a corporate let to a major PLC on a 5 year lease. We rent the rooms at 52.5 per week per room. It is a 5 bed HMO. All of our projects have initial inspections and final inspections. What I like about this property, is that it is one block a major shopping area in Atherton. It will make it very convenient for the tenants to do all their shopping. We purchased this property grossly undervalued as it was a virtual shell. It was not habitat ed for many years. There was rising damp and a myriad of issues. However through the diligent work of our builders and my colleagues we turned an eye sore into a lovely house. We increased the number of bedrooms by adding a window in the master bedroom upstairs. We put in a stud wall and now have 2 bedrooms from a master. This greatly increases our cash flow to 13,650 per year. Our niche is working with Corporate tenants and Major PLCs who provide social housing.

 

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