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92 Romney Street, Salford

***1 bedroom available now until September 2014***

One of our top spec houses, this property boasts high quality features and will suit sudents/professionals.

Each of the 4 bedrooms are tastefully decorated and all have a double bed, wardrobe, chest of drawers, desk and chair.  The furniture throughout the property is a very dark wood, creating a slick, modern feel.

The gloss white kitchen is the standout feature of the property.  Complete with integrated oven and hob, washing machine, fridge freezer, microwave, toaster and kettle, you will actually want to cook and spend time in your student kitchen!

The communal area is comfortable and functional with leather-effect sofas, a dining table and chairs and large wall-mounted plasma TV.

Located in a popular student area of Salford, this property is within a 20 minute walk of the university and student union and close to shops and good transport links.

Rooms are £90 per week and includes utility bills.

The residential/family price is £750 per month, excluding bills.

***gas, electricity, water and wireless broadband included!***

Please contact one of our Salford letting agents on 0800 500 3015 to arrange a viewing or complete our tenancy application form.

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What’s an HMO property and which advantages has it?

If you are thinking about investing in a buy-to-let property in the North West of England, you shouldn’t fail to consider the HMO option, also known as House in Multiple Occupation or multi let investment. This type of investment has been a hot topic amongst investors in the last decade because of the potentially high yields it can achieve.

If you are not completely clear on what an HMO property is and its benefits versus a regular buy-to-let, continue reading this article.

What is an HMO?

HMO propertyA house in multiple occupation is a property rented out by at least 3 people who are not related to each other or part of the same ‘household’ like a family, but share facilities like the bathroom and kitchen.  Student properties for example and house shares are HMO properties.

You must have a licence for your HMO if the property is:

  • Rented to 5 or more people who form more than 1 ‘household’

  • At least 3 storeys high

 

Which are the advantages of a multi let?

  • Renting your property as an HMO you can achieve a much higher rent than you would renting the property as a whole to a single family unit.

 

HMO properties allow you to charge rent on a per room basis.  For example, a 5 bedroom house might have a market rent of £1,200 when let to a single family.  But if the same property were let as an HMO for £400 per room, the potential rent could be £2,000.

Why is the North West a good place to invest in HMO?

HMO properties work better in areas with a high student and young professional concentration.

Considering that in most cases these types of people move on their own and for a defined period of time, the multi let option becomes the most suitable for them. This type of accommodation allows them to choose the most convenient location and the fact that bills are often included in the rent is another key ‘selling’ point.

With around 20,000 students at the University of Salford and almost 70,000 in Liverpool, the North West is an ideal place to invest in HMO properties.

Which are the risks of HMO investment?

HMO property

Along with the cash flow benefits, there are one or two potential risks with this strategy:

  • Tenant turnover can be high which means a lot of effort on your part as the landlord to keep finding new tenants

  • HMOs / Multi lets need to be managed very efficiently to ensure maximum occupancy. If one or two rooms are regularly empty then this can wipe out any profit you might otherwise have made.

 

These risks can be diminished if you invest with the Mistoria Group. We will help you in the process of finding the most suitable investment property, but we will also take charge of all the legal paperwork and management of your property to make sure you get the most of it.  If you are interested in investing in an HMO property, why don’t you call us today on 0161 707 6106 or email info@mistoriaestateagents.co.uk/sales?  Have many suitable HMO properties for sale in the Salford and Liverpool areas.

 

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PRESS RELEASE: The Mistoria Group launches ‘The Apprentice Programme’ 2014

In recognition of ‘National Apprenticeship Week’, Mistoria Group (of which Mistoria Estate Agents is a part of) has announced that it has taken on three new apprentices as part of its newly launched apprentice programme 2014.  Kye Bennett-Long, Demi-Lee Burke-Burns and Tom Sullivan, all 18 years of age, have been presented with the opportunity to join our busy firm for a one year period, to gain experience and learn new skills whilst ‘on the job’. 

The Apprentice Programme is a new scheme for Mistoria, through which talented young people are sourced and supported by means of a development plan.  It is hoped the positions will lead to full time roles within the company.  Each new apprentice has been allocated a job within different divisions of the firm, with Kye working alongside the busy us in the Lettings team, Demi-Lee assisting with administration and accounting and Tom assigned a position within the Maintenance division. 

“When I was offered an apprenticeship with the Mistoria Group, I jumped at the chance!” said Demi-Lee.  “I am very much enjoying my time here and am learning something new every day.  Everybody is friendly and focussed and it’s so interesting to see how much work goes on behind the scenes.  The CEO, Mish Liyanage is an excellent mentor and easy to interact with.”

“We are delighted to have launched the apprentice programme and welcome our three enthusiastic new team members.” said Mish.  “All of our employees at the Mistoria Group have many years’ of experience within the industry and collectively, we are thrilled to be able to pass these skills on to the next generation.  It will be wonderful to watch these accomplished young people growing into their respective roles and we hope to welcome many more apprentices in the years to come.”