HMO properties are in high demand. In the last 10 years, the HMO market has been the fastest growing house category, expanding by 25% and bringing in rental yields as high as 15% for savvy landlords. With more people than ever looking at shared housing options, landlords with HMOs as part of their portfolios are set to make very healthy returns.
However, your HMO needs to be expertly furnished if you hope to achieve the best results, which means you’ll need good quality HMO furniture.
We have helped many landlords fit out their rental properties, and we decided to put this article together to help you spot all the key factors for yourself.
1. HMO Furniture Should be Durable
We’ve spoken to many landlords about what they want most from their furniture, and the number one response we always get involves durability. If you’ve ever rented out a property with furnishings included, you’ll know that items will wear out over time. To ensure you don’t need to replace pieces at the end of each tenancy, it pays to source durable furniture that can withstand daily use from the get-go.
Of course, some may say the solution here is to leave out the HMO furniture and let your tenants buy their own pieces. By doing this, though, you can lose out on a significant amount of money. In Manchester, a flat alone can bring in an extra £101 per month when it’s rented out fully furnished. By supplying several tenants with the furniture they need, you can bring in a lot more from rental fees.
Our furniture has been specifically designed with tenants in mind, meaning they are built to last. HMO furniture is simply an added investment that can result in massively improved rental yields. And if any of our items are damaged, we offer a like-for-like replacement service and a speedy delivery.
2. HMO Furniture Needs to be Crib 5 Compliant
Alongside durability, landlords have a duty to make sure their furniture and furnishings are safe to use in a hospitality or residential setting. Crib 5 compliancy (also known as Ignition Source 5) means your furniture has passed UK Fire Regulations. This doesn’t mean items are fire-proof, but it does mean they are less likely to catch fire.
It’s an offense to use furniture that doesn’t meet these strict safety standards. To be absolutely certain your tenants are in safe hands, you should only purchase HMO furniture from reputable suppliers who have built their reputation on safely furnishing HMOs. We are always happy to prove our furniture meets the legal requirement.
3. Your Choices are Within Budget
Good quality HMO furniture is hard to find at the right price, but not if you know where to look. When sourcing furnishings, it’s important to remember that cheap doesn’t necessarily mean cost-effective, and luxury doesn’t have to mean expensive.
We cater specifically for the rental markets, and our experience has given us the skills and knowledge to fit out any rental property no matter what your budget is. To get the very best deals on HMO furniture, take a look at our range of furniture packs. You’re sure to find something that works for you and your property. We can also put together a bespoke package if you’re looking to create a space that’s truly unique.
For Your Tenants
4. How Comfortable is the Furniture?
Truth be told, durability, safety and costs are incredibly important, but potential tenants won’t even be thinking about those aspects. They just want to know that the sofas, chairs and beds they’ll be using for the duration of their tenancy agreement is comfortable.
We know exactly what tenants want and how to achieve it. Our HMO furniture is designed with end users in mind. If we don’t think items are comfortable, we don’t add them to our list of products.
We like to encourage our clients to come down to one of our showrooms to check the quality and comfort of our pieces for themselves. If you’d like to arrange a visit to our Manchester or London showroom, simply fill in this form and a member of our friendly and proactive team will get back to you.
5. Is Your HMO Furniture Aesthetically Pleasing?
To many landlords, an investment property is just that; an investment. To tenants, though, the property isn’t an investment at all. It’s their home. Your HMO property has to look and feel like a home, or you’ll soon find no one wants to live in it. This means every piece of furniture you put in there has to be aesthetically pleasing.
Interiors that are outdated or not to everybody’s taste can quickly alienate potential tenants. They don’t want to live somewhere that doesn’t appeal to them. Our award winning Interior Design team can help by putting together designs that your tenants will love.
Sourcing the Best HMO Furniture on the Market
When you’re looking for good quality HMO furniture, you can’t go wrong as long as you keep these five key points in mind. By ticking them off one by one, you ensure the happiness of both you and your tenants.
We specialise in providing the best furniture for the rental market, which is why landlords from all over the country trust us to fit out their properties. We understand the life of a landlord can be stressful, so we do what we can to take the hassle away from you.
Our trained delivery & installation team will even deliver, assemble and install your HMO furniture for you, taking away any old items you want recycling as well as all the packaging.
For more information on our HMO furniture range, feel free to get in touch with us.