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"Dean and his team have been phenomenal at delivering a high quality service for his clients. The deal sheet was surprisingly accurate to the real time figures and the true end value exceeded our expectations"
"Parata Property have taken all the stress out of investing in property. As a full time athlete living abroad, I don't have a lot of time. Parata Property have managed the entirety of all my projects with their turn-key service"
"I would definitely recommend the end to end service. Dean is a great guy, runs a really professional business and communicates very well"
Parata Property provides a turn-key service for national and international investors looking toinvest in HMO’s in the UK’s North West property market. In summary our service consists of: sourcing and securing the property, managing the conveyancing period, project managing therefurbishment, ensuring the property is compliant and licensed, furnishing the property,coordinating the managing agent and delivering the project.
There is a lot more that goes into the process, but this is a basic outline! Essentially we covereverything from A-Z for our clients wanting to purchase a HMO in the UK.
In the UK, HMO stands for House in Multiple Occupation. It refers to a type of rental propertywhere at least three tenants from more than one household share common facilities such as akitchen, bathroom, or living area. HMOs are subject to specific regulations and licensingrequirements to ensure the safety and well-being of the tenants.
Where do we start? There are multiple benefits for owning a HMO. We’ve listed a few below.
1. Increased rental income: HMOs often generate higher rental yields compared to traditional single-let properties. Since multiple tenants occupy the same property, landlords can charge individual rents for each room, resulting in a higher overall rental income.
2. Diversified tenant pool: With an HMO, landlords can attract a range of tenants, such as students, young professionals, or individuals looking for affordable shared accommodation. This diversification reduces the risk of having a property vacant for extended periods.
3. Reduced financial risk: With multiple tenants, the financial risk associated with rental income is spread across several individuals. Even if one tenant fails to pay rent, the landlord may still receive income from the other tenants, mitigating the impact of non-payment.
4. Flexibility in property use: Converting a property into an HMO can allow vendors to maximise the use of the available space. By creating individual rooms for rent, larger properties that may be less desirable as family homes can be effectively utilised for rental purposes.
5. Potential for capital appreciation: In certain areas with high demand for shared accommodation, HMO properties may experience greater capital appreciation over time. This can provide an opportunity for the vendor to sell the property at a higher price in the future.
“I Would recommend to anyone (and have been). Parata Property completely alleviated all stress on the property I purchased in Wigan. Working with Parata Property would undoubtedly be one of the best decisions I have ever made”
"Just looking at the deal sheet I can imagine home responsible the sourcing agent is"
"On budget, on time, the quality is perfect and the hassle free service is unbeatable"