Student HMO Management (house of multiple occupation)
Welcome to Purple Frog, your trusted partner for Student HMO Property Management in Birmingham, Bristol, Nottingham and beyond. Our expert team is dedicated to optimising your investment’s potential. With tailored management solutions and a commitment to excellence, we work diligently to ensure that your student housing portfolio is well-maintained, providing you with valuable peace of mind. Discover how our specialised services can help you succeed in the dynamic student housing market.
Acquire Student HMOs
We’ll help you to make the right investment decisions for your goals.
Save time: We’ll do the viewings and find the property for you.
Help with financing? We’ll put you in touch with the right financial advisers.
Discovering the perfect investment can be a daunting task. Ensuring your hard-earned capital is invested in a property that delivers the right returns and appreciates in value over time is of utmost importance.
To make sound investment decisions, it’s crucial to have expert guidance from a trusted source.
At Purple Frog Asset Management, our Property Asset Managers dedicate their time and expertise to understanding the market and tenant preferences. We blend our extensive knowledge and experience with thorough research, ensuring that we provide you with the most reliable advice tailored to your needs.
We recognize that investment decisions are deeply personal, varying from low-risk, long-term strategies to high-risk, high-return approaches. Our team is committed to helping you determine the ideal investment path for your individual goals and financial situation.
With our property search service, we’ll assist you in finding the perfect student HMO that aligns with your chosen investment strategy.
Develop Your Student HMO
Use our experience and research to make the right improvements to your property from interior design to complete refurbishment.
Save time: We’ll do everything for you, including regular inspections as work progresses.
We pride ourselves on bringing projects in on time, and on budget.
Lower the risk: We only work with experienced and reputable contractors
Depending on your appetite, you might be interested in a ‘turn-key’ property, which is ready for immediate use, or you may opt for a property with development potential, offering the opportunity for enhancement and increased returns.
While purchasing a student HMO for development can yield higher profits, it also carries a certain level of risk. At Purple Frog Asset Management, we offer project management and interior design services to help you transform any property into one that tenants will find irresistible.
Our team is well-equipped to handle projects of varying scopes, whether it’s a minor makeover or a full-scale extension. We pride ourselves on our ability to complete projects on time and within budget, ensuring your investment remains profitable and attractive.
Understanding the unique needs and preferences of our student tenants is our forte. Our team possesses the knowledge and experience to make the right adjustments to your property. This ensures it remains in high demand and caters to the ever-evolving requirements of the student market. Trust Purple Frog Asset Management to guide you in making informed investment decisions and delivering properties that tenants will love.
Student HMO Management
Our property management service enables you to feel the full reward of your property investment as well as freeing up your time.
Find the right tenants:
We’ll use our experience and research to emphasize the features of your property that resonate with students. We’ll advertise it in the places students look and facilitate a seamless letting process, providing a hassle-free experience for both you and your tenants.
Staying within the law:
We’ll ensure that your property is compliant with all relevant laws and regulations, including EPC, gas, electrical, and HMO licensing.
Making sure your tenants enjoy their stay:
We’ll make sure your tenants are looked after as if they were our own. We have 24/7 phone answering, and emergency maintenance provisions.
Get your rent on time:
We will collect rent throughout the tenancy and make sure your net balance is in your account by the 8th – 10th of each month along with an electronic copy of your statement.
Not having rent arrears:
Within 60 days of the end of student tenancies, we have rent arrears of less than 0.5%. We can’t guarantee that tenants won’t fall behind with their rent, but all student tenants have the minimum of a guarantors, who passes a credit check, and we have rigorous credit control procedures in place.
Be in control:
You can have as much or as little input as you wish with the management of your property. Ordinarily we will deal with everything but if you want to deal with the maintenance of the property for example just let us know. We are happy to use any existing contractors you may have working relationships with as long as they confirm they have the relevant qualifications and insurances.
No surprises:
If you want advance warning about any expenses during the month then we can email you each time a maintenance issue is reported so that you don’t have any unexpected costs on your statement.
Keeping your investment well maintained:
We conduct routine property inspections to identify potential improvements and uncover any maintenance concerns that tenants might have overlooked. Drawing on our extensive market knowledge, we provide tailored recommendations to enhance your property, ensuring you achieve optimal returns on your investment.
Paying a fair price for maintenance:
By using a combination of in-house and external contractors, along with our considerable purchasing power, we effectively manage maintenance costs while upholding the highest standards of quality.
Sell Your Student HMO
Getting the valuation right:
Selling an investment property is more like selling a business than selling a home. When standard estate agents value a property, they will look at comparable properties and recent sales alone to try to assess value and they may well miss important factors which may enhance the value of a property.
Student HMO properties can offer potential for development or improvement to increase revenue for ingoing buyers. Knowing where these potential enhancements are possible and a rounded understanding of their impact or not, significantly impacts market value.
Also key, is an on-point knowledge of changing market factors such as return on investment percentage calculations and rental capabilities. Experienced investment property agents are able to help potential buyers understand the investment opportunities.
The right marketing:
Frustratingly, most student HMO properties are advertised for sale with incomplete or no details of tenancies or income. This is off putting for potential investors who need to understand in detail, the anticipated financial outcome of an investment and the required strategy for successful and profitable future letting.
A specialist agent will not only make sure the information investors need is provided, but that it’s put in front of the right people. Specialist agencies like Purple Frog serve the investment market and that keeps us focused on the right detail. It also means that our marketing is pinpoint and our mailing list is 100% built from investors.
What’s more, to reach the fullest market, consideration has to be made for individuals who live a distance away from where they want to invest. This applies to the wider London and South East market as much as it does to buyers that are based abroad.
In order to effectively sell to these markets, there needs to be clarity of information, from where trust can be built. We’re particularly proud to be constantly forming good relationships with companies and individuals that find it difficult to personally view property or easily understand the investment from a distance.
Conflict with Bank/RICS valuations:
Banks and surveyors don’t value properties the same way property investors do; they have to value a property based on what they think it would sell for if it was not an investment property. In most cases, and particularly with student HMOs, the valuation provided by a bank or RICS surveyors will be lower, sometimes significantly, than the sale price agreed. This can lead to renegotiations or collapsed sales if not handled correctly.
The team at Purple Frog ensure buyers are aware for the potential for undervaluation and rather than asking for the standard proof of funds at a rate of 25%, we ask for higher or appropriately tuned proof of funds to overcome low bank valuations and to incorporate stamp duty costs.
If a buyer can’t bridge the gap between a valuation and agreed sales price, then they are no longer able to proceed with a purchase. We anticipate all of these factors to avoid wasting the time of our clients and investors.