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I expect that this fabulous property will appeal to cabin crew at nearby Gatwick Airport. It's my understanding that aircrew often choose to rent rooms rather than houses or flats because of their working pattern.
Cabin crew would probably be the perfect tenants for this type of property. A niche indeed!
We do not actually have any cabin crew in the property currently, we were surprised too, but we have plenty of people who work at Gatwick. But yes you are correct and we hope this property, over the long-term, will appeal to a wide array of people who work in and around Gatwick.
Interestingly though, we do have a tenant who has come from living at home with their parents and is using it as a first break of independence (possibly as all bills are included) along with them falling in love with the property/rooms.
Wow, you've really raised the standards for room lets! I agree with the other comments that you clearly know what your market are looking for and are willing to pay for it. It just goes to show that there are different sub markets for rooms and yours' are clearly aimed at professionals. I went to visit a similar project today where the landlord is using the rooms for Air BnB and has researched and defined her market very specifically.
Inspirational and I wish you continuing success!
Thank you so much for your lovely comments. I am sat here with Alicia and when I saw your name I instantly remembered that your book was one of the two books I read about HMOs before we started!! So thank you, I took a lot of information from it at the beginning of our journey.
Yes we recognised there was a gap in the market for our product and are proud of what we have managed to achieve. We started works on our next HMO today so will be looking to maintain these standards moving forward.
Thank you once again.
Oli & Alicia
grt house, congrats, i have a similar high spec HMO just outside oxford, though I didnt achieve your yields, your room rates must be 700gmp pls month? good luck with tenants, I choose a good bunch, but they quickly make a mess on your beauitful property, you need to put ground rules in place early doors, to stop this, my lesson learnt.
hope you dont get caught with council tax re-banding issues that I see coming in when they roll out national licnesing, I am assuming councils will be able to line up the dots...will be very painful for HMO model imho
Looks great. This is exactly what I intend to do with one of my HMO's.
Would you mind if I asked your monthly room rate?. Also how do you deal with all the hot water demands and so many showers?
Hi Oli and Alicia
Really fantastic finish - setting the bar high! I'd be interested to hear who you used for your initial financing and who you are using for your HMO refinancing?
As others has said - I don't think you'll have any problems with voids!