Based in Coventry, MY Safe Build is a professional building company that works with various domestic and commercial customers in the West Midlands.
Our time-served team offers a range of building services, including the following:
If any of these services interest you, please call our builders on 02475 120385. You can also visit our gallery page for examples of our bathroom remodels, property extensions, attic conversions, kitchen remodels, and more.
One area My Safe Build specialises in is works for HMOs. Here, our building company provides information on these types of properties for the benefit of our potential customers in Coventry.
HMO is a common abbreviation for House of Multiple Occupancy. This term refers to a property that’s rented out to three or more people. The inhabitants of an HMO are typically unrelated and aren’t cohabiting couples. To qualify for HMO status, the property must be the main residence of the tenants who reside within it and must have tenants who pay rent to a landlord.
Residents in an HMO tend to share common facilities, such as kitchens, bathrooms and toilets. Some occupants will have separate tenancy agreements, but most will have one private residential tenancy (PRT) agreement, which holds all tenants jointly and severally liable. If you wish to convert a property into an HMO, you’ll need a three-year HMO licence from your local authority.
At My Safe Build, our builders help create and update HMOs. HMO owners can contact us for new bathrooms, house extensions, loft conversions, kitchen fitting and various other building services.
Here are some common benefits associated with HMOs:
HMOs can be highly sought after in certain parts of a city with a high population of university students or young professionals. This type of property is ideal for unmarried individuals who can’t afford to rent on their own or buy a property.
Whether all tenants are under one PRT or they have their own private tenancy agreements, each tenant is responsible for their rent. If a tenant defaults on rent, you can usually acquire it from a guarantor. For many students, this tends to be their parents.
If you own an HMO, you can choose to rent out the entire property or individual rooms. If you choose the latter, this will make each room a separate entity and give you the opportunity to offer them at a rate that’s unique to the room in question rather than a flat rate for the whole property.
With multiple tenancies within the property, the yields for HMOs are typically significantly higher than those of other rental properties. This could help you get a quick return on your investment. Our building company can help you get maximum value from your HMO in Coventry with new bathrooms, house extensions, loft conversions, kitchen fitting and other work.
