Property Sourcing FAQs
Frequently Asked Questions
What is the property sourcing cost?
The cost to source a from starts from £2500 for a single let for example and up to £5000 for a large hard to find HMO. But small 4 bed HMO’s can often be sourced for a £2500 as well, but it all depend on your requirements and location choices.
How quickly can you find a property?
Normally between 1-4 weeks
Can you source BMV (Below Market Value) properties?
Yes we can find you BMV deals, but often when you see BMV deals being promoted they may need a large amount of work needed on them or be situated in a very run down area. What is very important is getting you the best price for a property and a fantastic yield. For example even if you had to pay full price (we would always negotiate down the price for you though) for a 6 bedroom HMO in Sheffield in good condition that generates you £1000+ profit a month with a 15%+ yield then that would be a great deal.
Can you sources HMO (Homes of Multiple Ocupancy) properties?
Yes, we can source anything from 4 bedroom mini HMO’s to large 10+ bedroom HMO’s. If you are just starting with HMO’s then it may be worth starting with a mini 4 bedroom HMO to learn the ropes.
Can we meet to discuss our property sourcing needs?
Yes, it would be great to meet over a cup of coffee to discuss how we can help you with sourcing suitable properties for you. Give us a call or fill in the Enquiry form. We will discuss your property plans over the phone first to check that our services are suitable for you.
Can you manage the renovation work on the property?
Yes, we can make it as hand free for you as possible for a renovation management fee starting from £2000. This includes getting in the best quotes for you, managing contractors, collecting keys, holding keys, arranging cleaners, arranging a local lettings agent if needed for long term management, furnishing, arranging gas & electrical checks. So from the time the keys are collected once purchased to the time the keys are handed over to the letting agent at the end will project manage the work to a high standard as if it was one of our own properties. We will take photos along the way to show you progress too.
What legal compliance do we follow to be able to source properties for you?
We are fully compliant with the following governing bodies when carrying out our services. This is to ensure that you as the client are protected and that we are compliant with the government regulations.
- Professional Indemnity Insurance
- Information commissioner’s Office
- HMRC Anti Money Laundering
- Property Redress Scheme
