Top HMO Property Portfolio Management: Insights from COHO Co-Founder Helen Turner

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.

“With every property you add to your portfolio, the noise is multiplied.”

(Graphic Source: Dall-E)

1. Navigating the Day-to-Day Operations of an HMO Business

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:

1. 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.

2. 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.

3. 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.

2. COHO Demo: A Glimpse into Streamlined Property Management

Helen takes the Property Filter community on a virtual demo of COHO, showcasing how this property management software streamlines compliance management, tenant communication, and rent collection.

Key Features of COHO – HMO Portfolio Management Software

  • Affordability: The software’s pricing, based on the number of units, makes it accessible for small portfolio landlords and scalable for larger property managers.
  • Automation: COHO offers automation features, including customised messaging templates, integration with accountancy software like Xero, and AI-powered rent reconciliation.
  • Future Developments: Helen teases upcoming integrations with calendar systems and additional capabilities for e-signatures and automated referencing.

Helen guides us through COHO’s onboarding process for tenants, presenting a welcome pack and demonstrating how tenants are invited to collaborate seamlessly. The software ensures a smooth maintenance workflow, allowing landlords to manage tasks efficiently.

3. Key Features for COHO Users:

  • 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).

4. Summary

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 Ep11 of DFC featuring Matt Baker and Ep30 of DFC starring Stuart Scott.