The Good News and Not so Good News with Social Housing
Since these properties are for vulnerable people there are alot of eyes on the properties. As a landlord the good news is that there is a great deal of supervision on these properties. We have Fire assessments, Building regs, the police have to approve, the council has to approve even without it being a 5 bed or greater & in need of a HMO license and lastly the service provider. All of these should guarantee that our properties are looked after. We have a 7 plus 3 year lease and on some properties the leases have been extended for now almost 16 years. We have completed on over 250 of these properties since 2014. Well that is the good news, the not so good news was on this particular property with a council inspection for the HMO license since it was a 5 bed. The council insisted on an additional bathroom even though this was not part of the code. We could argue and fight it or did we want to be smart and work with the council in the future. Thus we had our builders adhere to their request even though it was not per code. We could have gone to court but that would have cost more in time, money and aggravation. Considering the rents we are achieving we simply did the work with the assurance from the council they will issue the HMO license. This is all the part of property. Solving issues..not problems…solving issues. 😂 #property #socialhousing #ukproperty #refurbishment
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