HMOs took a bit of a battering over lockdown, with some Landlords opting to come out of the model all together.
However, with rental levels starting to return to their pre-covid norms and restrictions easing, we ask – was this a knee jerk reaction and what have we learned from this extraordinary time?
Lots has been said about Co-Living during the pandemic; Landlords reported voids and large drops in the number of people looking for HMO rooms.
Whilst it is true to say that there were more rooms on the market (even in a buoyant City like Bristol), with less people actively looking, there are, however, lots of things that can be done to future proof your HMOs.
We acted quickly, during the first lockdown, to ensure that all of our rooms had areas where tenants could work from; we upgraded wifi; we transformed the communal spaces (consulting with our tenants about what changes they wanted to see).
By sectioning areas off and adding reading rooms, home gyms, workspaces and by adding simple, low cost yet high value items, like coffee machines, in areas which were under-used and, in the summer months, in garden areas, we made a big difference to the number of spaces and options available.
Creating opportunities for various different activities; facilitating soft boundaries for multiple purposes and moods, with designs that were flexible helped to increase social engagement whilst, at the same time, providing confidence in safety and allowing that all important space for work, fitness and leisure pursuits.
Creating opportunities for various different activities; facilitating soft boundaries for multiple purposes and moods, with designs that were flexible helped to increase social engagement whilst, at the same time, providing confidence in safety and allowing that all important space for work, fitness and leisure pursuits.
Recognising that things had changed and with a little thought, communication and ingenuity, it was possible to transform living paces, for the benefit of our tenants, without breaking the bank.
The biggest hits for our tenants have been the garden workspaces, reading/office/gym rooms and, unsurprisingly, the coffee machines!
But it wasn’t all about the spaces, it was also about the running of the HMOs themselves. Putting procedures in place for everyone’s safety and communicating these procedures well, with everyone concerned, was extremely important.
Keeping up to date on the latest Government advice and protocols and helping tenants access this information also became key.
At a time when things were changing rapidly, being in a people-centric business meant taking responsibility, keeping up to date, disseminating good quality information and ensuring that every action was based on safety – always!
At first this was tough, especially as things changed so quickly but soon, it became part and parcel of daily procedures and it meant that everyone knew where they were and what they should be doing!
So what did we learn? I’m not sure that we learnt anything that we didn’t already know but some things shone out that’s for sure:
- The importance of having good quality systems that everyone understood and used
- Communicating and listening – to all parties, because not everyone will feel the same
- How you feel about something is not necessarily how someone else will feel and this doesn’t make either of you right or wrong
- With some things you need to be flexible and with others not so much
- Small, targeted changes can make a huge difference
- The importance of clinical record taking
On whether or not it was a knee jerk reaction for some Landlords to leave the Co-Living sector all together, it’s really hard to say. We think that there is definitely a place for a good quality, well run HMO, with a harmonious mix of tenants. I saw a post recently, on Social Media, which was quite negative about HMOs and my first reaction was to think “I’d love to live in some of ours” – which I think tells you a lot!
Will things change again? Maybe. But, if you operate with an open mind, are prepared to be flexible and put the safety and well-being of your tenants, your team, your contractors and everyone concerned, at the heart of everything you do, then you won’t go far wrong!
If you have any questions about HMOs, or we can help in any way, then give us a call on 0117 440 6789 or email us here
