LandlordZONE

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Sep, 2014

Tuesday

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  1. #21
    Join Date
    Jul 2008
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    Yorkshire
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    24,592

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    I think it might be quite fun to live in Fawlty Towers.
    How is education supposed to make me feel smarter? Besides, every time I learn something new, it pushes some old stuff out of my brain. Remember when I took that home winemaking course, and I forgot how to drive? Homer Simpson

  2. #22
    Join Date
    Jan 2011
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    1,455

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    I've enjoyed reading this post. A real insight to an HMO.

  3. #23
    Join Date
    Feb 2006
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    3,343

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    Quote Originally Posted by justdoitviv View Post
    Spring cleaning, ...........the poster has not taken into account the cost of degreasing and washing kitchen walls every 3 to 6 months.... takes a good 8 hours...let alone spring cleaning the passages, and cleaning the grout in 4 bathrooms. bank on over £500 pounds a time.

    I want to know what other hmos do about all this cleaning because i am tied to the house and not happy about it. I can hardly start lodgers to scrub ceilings and do spring cleaning, and clean ovens etc.
    You sound like a brilliant LL who is not appreciated

    I suspect that many HMO kitchens are not as clean as yours.

    When my daughter moved into her uni halls I spent 2 hours cleaning the ensuite bathroom while she bonded with her flat mates; the grouting probably had not been touched since they were built. And many students probably wouldn't notice.
    All posts in good faith, but do not rely on them

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  4. #24
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    Jul 2008
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    Yorkshire
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    Quote Originally Posted by Bel View Post
    Y

    When my daughter moved into her uni halls I spent 2 hours cleaning the ensuite bathroom while she bonded with her flat mates; the grouting probably had not been touched since they were built. And many students probably wouldn't notice.
    I agree, but you can bet that if she left them as grotty as she found them, the uni would have charged her for cleaning them.
    How is education supposed to make me feel smarter? Besides, every time I learn something new, it pushes some old stuff out of my brain. Remember when I took that home winemaking course, and I forgot how to drive? Homer Simpson

  5. #25
    Join Date
    Nov 2012
    Posts
    505

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    From my experience HMO properties are a complete nightmare, lots of management, lots of vacancies, lots of damage. They can work but need constant suppervision and are best stayed away from unless you do this as a full time job.

  6. #26
    Join Date
    Jul 2008
    Location
    Yorkshire
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    24,592

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    Quote Originally Posted by hech123 View Post
    From my experience HMO properties are a complete nightmare, lots of management, lots of vacancies, lots of damage. They can work but need constant suppervision and are best stayed away from unless you do this as a full time job.
    I disagree, certainly as far as student HMOs are concerned. They are slightly higher maintenance than non-HMO rentals but most of the year you can just leave them in peace and they you. The potentially stressful points are when you're trying to recruit a new group for the year after (if the current ones leave the house looking like a badger's sett), and the weekend in between one tenancy and the next, when there's extreme cleaning to be done.

    The upside is that they are much more profitable (up to three times more so) than a property of the equivalent size let to a family.
    How is education supposed to make me feel smarter? Besides, every time I learn something new, it pushes some old stuff out of my brain. Remember when I took that home winemaking course, and I forgot how to drive? Homer Simpson

  7. #27
    Join Date
    Nov 2012
    Posts
    505

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    Student HMO's are dead get out whilst you still can! They are moving firmly towards very large professional student blocks from big companies, everyone can see it. Areas are slightly behind depending but this market is well on the way to saturation, get out now!

  8. #28

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    Quote Originally Posted by hech123 View Post
    Student HMO's are dead get out whilst you still can! They are moving firmly towards very large professional student blocks from big companies, everyone can see it. Areas are slightly behind depending but this market is well on the way to saturation, get out now!
    Half agree. There's a fatal flaw, though.

    All these hall-blocks are signficantly more expensive than trad student shared houses - to the tune of £90-130 a week vs £50-90 (+£10 for utilities).

    Students are not stupid, and can see that they are being made into cash-cows.

    And they will not *all* be living in those unless it is a matter of enforced contract.

    Meanwhile, Council zoning policies are making student houses a scarce resource in many places, so (for other reasons) it may be a good time to sell.

    I don't expect this market to vanish overnight.

    Rather, I'd predict the current gung-ho anti-HMO council policies to continue for a few years then hit the reality wall.

    Student housing will only be damaged badly if the charge rate for communal halls drops to the same price range, or if the student population falls very significantly.

    ML
    Refer Mad Regulators to Arkell vs Pressdram.

  9. #29
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    Jul 2008
    Location
    Yorkshire
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    Quote Originally Posted by hech123 View Post
    Student HMO's are dead get out whilst you still can! They are moving firmly towards very large professional student blocks from big companies, everyone can see it. Areas are slightly behind depending but this market is well on the way to saturation, get out now!
    Sweeping generalisations arte unhelpful.

    In some cities the universties are being leant upon by the councils to build tower blocks for students, yes. It does not mean that students will choose to live in them, apart form in their first year. The majority of second and third year students in most cities see living in a privately rented house or flat as a rite of passage; they have had enough of being rammed in like sardines in blocks of flats with other students and paying through the nose for the privilege.

    And numbers will continue to rise, among international students if not home-grown ones.
    How is education supposed to make me feel smarter? Besides, every time I learn something new, it pushes some old stuff out of my brain. Remember when I took that home winemaking course, and I forgot how to drive? Homer Simpson

  10. #30
    Join Date
    Nov 2012
    Posts
    505

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    Student application numbers are actually falling - http://www.wsws.org/articles/2012/se...univ-s06.shtml This is going to get worse, costs of a degree are spiralling out of control and it is ending up that people will be so much in debt they will not be guaranteed anything from achieving a degree.

    International students may help but depending on immigration as the trend is to tighten and student visa's have had a bad press over the last 2 years, very bad.

    This is not a generalisation, what is going to happen in my opinion is that this market is going to become very very tricky. An excellent point by midlandslandlord about the price difference but what I am seeing is these large residences being built to the point of over supply, I have also noticed prices in these coming down as the competition gets tough.

    Most student prefer to be in these places with better security, all their friends, new buildings etc.. These prices are already dropping and will continue to do so, these companies are very rich and another important factor is that they are purpose built, very very important. What else can they do? They will reduce and reduce until they let them as they can not start housing 5 people families.

    From my experience I have seen halls that were 100% let running this year at 50%. This hall was owned by a housing association with tens of millions at its disposal, please tell me what they will do? reduce, reduce, push. Do not try and compete against these big guns, you are silly to do so. If you can not see it coming look again, its time to leave this market.

    Again an excellent point about HMO's being reduced by councils, the problem I see with this in many areas as there is already an over supply of HMO's. Once a lot of the Eastern Europeans started to leave the UK there became more HMO's than people that wanted to live in them.

    Universities are pushing students into these halls, big companies are over supplying them, please take a look at where this is heading and have a back up plan as there costs will come down, basic fundamentals, over supply.

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