Sirer HMO Residences
Definition: HMO – House in Multiple Occupation.
HMO Business Model
A house or flat split into bedsits where the tenant has exclusive use of their room but shares a kitchen or bathroom and WC.
Sirer HMO investment business model is based on purchasing an un-modernised property, usually a house, but can be a large flat, which is upgraded, re-configured and or enlarged so as to increase the number of letting bedrooms to maximise the income potential.
Re-Configuration & Enhancement of Property
The living rooms are converted into bedrooms, with en-suite shower/toilet & small kitchenette.
Upgraded kitchen extends to lounge/dining area. The common parts, must facilitate occupation by un- related multi-occupancy tenants, hence thick carpeting in hallways, double fridges and ovens, room locks, good neutral finishes and quality furniture, all this creates the feel of harmony and professionalism from the point of view of the tenant, therefore necessitating a better care of the dwelling by the tenant and therefore higher rents achieved.
Areas Covered for Sirer HMO Model
Focus on Commuter-Belt Towns – up to 1hour 25 minutes from London Main Line Stations, where underlying property values and potential rental incomes are in line with high spec-up rental properties generating above average rental revenues.