In the latest episode of Deal Finder's Corner, your favourite Frenchman, Guillaume Black, had the pleasure of hosting Helen Turner, a property educator, organiser of HMO Awards, and co-founder of COHO – an HMO management software for landlords. Helen delves into the challenges of managing HMO properties and underscores the importance of systemising operations for efficiency and compliance.
Successful portfolio builders like Phil Bygrave's portfolio growth demonstrate the importance of systematic sourcing and management. This real-world example perfectly illustrates why the systems and software solutions Helen discusses are so crucial for scaling an HMO portfolio effectively.
Helen and Guillaume dive into the operational intricacies of running an HMO business. The discussion unfolds around the nightmarish scenarios that often plague HMO landlords, emphasising:
Compliance Woes: HMO management demands meticulous attention to compliance, encompassing the need for precise documentation and readiness for audits. Helen sheds light on the challenge of managing compliance efficiently and foolproofly.
Tenant Noise: Addressing the multifaceted issue of tenant noise, the conversation explores effective communication strategies and understanding tenant needs. Helen stresses the importance of having everything in one accessible place to avoid the overwhelm of inefficiency.
Exposure to Compliance Risks: The duo discusses the exposure to compliance risks and the importance of tracking renewals, serving prescribed information, and managing mid-tenancy updates, such as gas safety certificates.
Landing Page: A visually appealing, user-friendly landing page.
User Selection: The option to choose between manager, tenant, or owner.
Portfolio Management: Gaining access to every room in your property portfolio.
Compliance Management: A simplified overview of compliance status, to-do lists, and the management of five essential documents.
Calendar Integration: A convenient calendar feature.
Messages Centre: An organised hub for communication across the entire property portfolio (including broadcast option).
The session with Helen Turner provides a comprehensive guide for landlords and property managers, emphasising the critical role of streamlined management in the success of an HMO business. Remember, the right system not only saves time but contributes significantly to the growth and efficiency of your property portfolio. Tune in to the full episode for an in-depth exploration of HMO management excellence here. The episode concludes with an exclusive Q&A session, offering the audience the opportunity to delve deeper into the discussed topics.
If you would like to learn more about HMO, you can also watch Episode 11 of DFC featuring Matt Baker and Episode 30 of DFC starring Stuart Scott.
Deal Finder's Corner is your weekly property talk show, proudly brought to you by Property Filter. Our mission is to equip you with the best resources by inviting expert guests to share the most up-to-date and effective strategies, tactics, and insights for finding and securing property deals across the UK.
