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  • MarketPlace

    Fully Let 4 Bed HMO in Nottingham 8-10% yield

    Hi, newbie to this forum. I own a good quality 4 bed student HMO in Nottingham NG7 Forest Fields/Hyson Green (article 4 area) It is fully tenanted and achieving a gross rent of nearly £22K per annum on a 51 week let. There is scope for further development within the existing space, namely adding 2x ensuites, and increasing the rent accordingly.

    • All rent in hand, so can transfer the rent on completion. No need to collect anything from tenants Smile
    • Full 5 year HMO licence granted 2017 - lasting until 2022.
    • Certificate of Lawful Use (change of use class from C3 to C4) granted December 2018.
    • Tenants in situ until August 23 2019.

    Bed 2 has another room off, currently used as a dressing room but easily converted to an en-suite.

    Bed 4 has vanity unit in place but is also large, and again could have an en-suite added internally.

    You could then increase the rent further, especially if letting to professionals as opposed to students.

    Monthly rental income:

    • Room #1 £446.25 pcm (£105 pw x 51 weeks)
    • Room #2 £467.50 pcm (£110 pw x 51 weeks)
    • Room #3 £446.25 pcm (£105 pw x 51 weeks)
    • Room #4 £467.50 pcm (£110 pw x 51 weeks)
    • Total rent per month £1,827.50
    • Total rent per annum £21,930.00

    Fair use clause on bills: £2,200 and tenants are being extremely sensible with this (which is rare!)

    This covers gas, electric, water. I've paid all the water and won't take what I've paid for water of the fair usage allowance. So you could see a profit out of the current allowance. I get fibre internet separately, currently £18 p/m

    Tenants buy their own TV licence. No council tax applies as all are students.

    Open to all sensible offers.

    Any questions please get in touch. Thanks.

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    Can't see how to edit this so adding a comment - HMO licence is granted until 2021 and not 2022! Miscalculation.

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