HMO Nottingham

Homeshare are HMO specialists in Nottingham and surrounding cities. We provide an excellent solution for both tenants and landlords explained in further detail below. With the London HMO market becoming saturated, many landlords are turning to the East Midlands for excellent investment opportunities. Similarly, Nottingham has always been an exciting place for young working professionals and students to live in. Many favour renting a single room in a shared property, rather than having to rent a whole property to themselves.

Tenants

For tenants, we provide rooms in excellent locations around Nottingham and Nottinghamshire at affordable rates. This saves tenants from renting a whole property and the additional bills and taxes  of renting a whole property. Renting with Homeshare allows tenants to have one manageable monthly payment for a hassle-free, affordable and enjoyable living experience.

Tenants can enjoy properties near famous and popular attractions of Nottingham, such as The Lace Market the Nottingham Castle Museum and Art Gallery, the City of Caves, Wollaton Hall and The National Justice Museum. Tenants are based near Nottingham’s award winning public transport system which is mostly comprised of Nottingham Railway Station and the Nottingham Express Transit Tram System.

With over 550 rooms under management, tenants have a variety of properties and rooms to choose from. Most of our tenants are young working professionals, so the depth of rooms grants tenants options to move to more suitable accommodation should they change jobs. We stay as helpful and flexible as possible for our tenants as they are the lifeline of the company.

All tenants are vetted and checked before able to live in one of the properties, giving other tenants peace of mind about their housemates. Additionally, this gives landlords peace of mind about the quality of Homeshare’s tenanting. The process includes proof of employment, proof of address, a landlord reference and a visa check.

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Landlords

We offer an excellent service to landlords throughout Nottingham and currently serve over 80 landlords throughout the county and surrounding areas. The two key benefits we provide landlords are a complete property management service and guaranteed, fixed, monthly income.

The fixed monthly income is particularly attractive to landlords as it means their rental property will pay them every single month despite issues traditionally faced by landlords. Arrears, licensing, maintenance and tenanting problems are tackles by Homeshare and the landlord’s monthly payment remains the same despite these old, traditional problems. It is Homeshare’s duty to ensure the rental property is tenanted, managed and earning money, not the landlord. We have perfected this over the last 6 years.

In conjunction with the fixed income offer, Homeshare completely manages every aspect of the property for the landlord. This makes each of our landlords property a completely passive income asset for them. They have virtually no responsibilities over the day to day management of the property. We take care of all maintenance work, tenanting, property viewings, rent collection, evictions and any other headaches associated with running a property.

So, whether you are a tenant or a landlord, you can trust Homeshare to deliver an excellent service for your living or property needs!

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FAQ’s

What is an HMO property?

An HMO (house in multiple occupancy) is a property rented out by at least 3 or more people who are not from one ‘household’ or one family. Tenants live under the same roof, have their own rooms, yet often share facilities like bathroom and kitchens. This is sometimes referred to as a house share… Or in our case… Homeshare! All landlords and businesses in England and Wales must hold an HMO license in order to legally operate. Initially, the concept of HMO’s was created from the Housing Act 1985. Read the complete definition of an HMO through the Housing Act 2004 whereby HMO’s became subject to mandatory licensing and stricter definitions.

What are the mandatory HMO licensing requirements in Nottingham?

Many cities have different HMO licensing requirements so it is important to understand how your city operates. Look at your local Gov site to see your city’s requirements. According to the Nottingham City Gov website, an HMO which has 5 or more people who form two or more separate households, who share basic amenities such as a kitchen, bathroom or toilet, requires an HMO license.

Is a student house an HMO?

Traditional student houses are essentially HMO’s as they are houses of multiple occupancy. Students normally live in groups to cut their living costs to focus on their studies. However, an HMO holds extra legal responsibilities, like licensing and certain standards detailed below.

Who pays council tax in an HMO?

It is the responsibility of the landlord to pay for the council tax in an HMO. All tenants living in Homeshare properties do not have to worry about paying for council tax separately. We package our rooms for tenants as a single, affordable monthly payment, which covers everything.

The government has also introduced the following measures for room sizes in Nottingham that will be included as mandatory conditions for licenses:

• For a person under the age of 10, a minimum floor area of 4.64m²

• A minimum floor area for any bedroom occupied by a single tenant of 6.51m²

• A minimum floor area for any bedroom occupied by a two people of 10.22m²

• All landlords or agents must have appropriate arrangements in place for storage and disposal of household waste, pending collection.

Read more about the regulations through this link: https://www.legislation.gov.uk/ukdsi/2018/9780111167359/pdfs/ukdsi_9780111167359_en.pdf

Check out the Nottingham City Gov website for exact licensing regulations here:  http://www.nottinghamcity.gov.uk/housing/landlords-guide-to-licensing-your-rented-properties/mandatory-licensing-for-hmos/

How long does an HMO license last?

The usual procedure is for an HMO license to last for 5 years at a maximum. In some cases, the council will grant a license for a shorter period of time. If you wish to renew your license, you should do so before the end of your agreed HMO licensing period.

Can you help me buy HMO properties in Nottingham?

With many professional landlords realising the benefits of purchasing homes with multiple units under each roof, many reach out to us for help in purchasing HMO properties. Naturally, with so much involvement in the HMO space, we see and know many of the great HMO deals out there ready to buy right now. This means any prospective buyers can reach out to Homeshare for excellent market knowledge and guidance. We can help prospective buyers purchase HMO’s in West Bridgford, the city centre of Nottingham and other popular areas of Nottinghamshire.

Are you Nottingham estate agents?

We are not like traditional estate agents or letting agents in Nottingham, but we do manage properties for landlords, much like estate and letting agents. We see our service as the modern alternative to traditional estate agent services. Landlords enjoy guaranteed, fixed monthly income and property management, while tenants enjoy flexibility of room choice around the popular areas of Nottingham.