This is part of a series of tips on how to refurbish Professional HMOs. At the moment we have 2 under refurbishment in Greater Manchester. We got our architect involved in order to maximize all the living space of the property. This includes moving stairs, taking out walls that are not load bearing along with moving stairs all under the auspices of building regs with full inspections. We have fire assessments on all properties in order to protect our tenants and ourselves. This Professional HMOs in Greater Manchester we made our proforma on rents on the lowside of 600 a room for ensuites. We have seen many of them on Spareroom.co.uk range from a low of 600 up to 750. With the rents of 600 we will be on a gross basis of 16-17% cash on cash without leverage. Our model is to source, refurb, tenant and then sell on. Depending on our pipeline, interest rates, demand and the property market we aim to sell at 12-13% to investors who want a turnkey HMO in Greater Manchester.
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