If you’re thinking about converting a property into an HMO you’re going to have to think hard about layout. Today we’re going to be looking at the installation of en suite bathrooms and more specifically at whether or not it is worth sacrificing some of that precious bedroom space to have them included in your HMO design.
Today we’re going to look at 4 documents that we use to make sure our HMO (house of multiple occupancy) refurbishments go smoothly.
So, when it comes to HMO property refurbishment projects (actually this is true of all refurbishment or renovation projects), the more planning you do right at the start the easier it’s going to be throughout.
At Property Investments UK, we’ve just recently come to the end of a project and this video is being shot onsite so you can see what the finished product looks like.
When it comes to refurbishments, every project is different. Certainly, in our case, we’ve found that you never stop learning. Obviously we try and and have the right systems in place, we try and make sure that we have the team in place, but there is always something that crops up, something that inevitably teach you something new on-site.
4 Key Documents
So, things always crop up that we’ve failed to anticipate but we try to keep those things to minimum by spending a lot of time in the initial planning stages. For a lot of this planning we use 4 key documents.
These documents will help you make your life a heck of a lot easier when it comes to managing the refurbishment process so they’re good things to have in place. The first is a schedule of works.
1. Schedule of Works
The first document you should have is a full schedule of works for the refurbishment as a whole. This should contain everything. Room by room every aspect of the works required should be written down. This is everything from joinery, to plumbing to electrics, everything that needs to be done in every room in the property.
The temptation is to treat the whole property in a more general way, saying to yourself,
“Ok, we need fire alarms and a new central heating system.”
What we have found is that drilling into the specifics initially has helped us to avoid problems down the line. Where is the boiler going to go? Which room? What colour scheme is the boiler room going to be? Is it going to be different to the other rooms?
This is where your schedule of works comes in to play. Drawing this document up at the beginning sets down everything that you want to do in the refurbishment process. It will help you get the right quotes at the start. It will help you manage the project. It will give your contractors clarity. It will help you cut out a lot of the problems that would otherwise face as a property developer.
2. A Furniture Checklist
When it comes to houses of multiple occupancy (HMOs) we always put them on the market fully furnished.
As you can see behind me there are pictures up. There are also shelves in the corner. There are beds and plenty of other furniture items in the property besides.
Now, you want to make sure that the furniture is right, that it’s been furnished correctly.
As you can kind of see behind us we’ve got pictures essentially up, we’ve hot shelves in the corner, we’ve got bed space kind of behind me, and a number of different kind of furniture items in the building as well. Now to make sure that that’s done correctly, and even if you’re going out and find all those items and pieces yourself, save you time essentially. You want to have a list of all those different items and materials that you need for your particular kind of refurb if it were, or HMO. Again, room by room, so how many beds are you going to need? How many wardrobes, how many pictures, all the way through to kind of frame shelvings, everything from a furnishing aspects that you want to put into the property.
You’d have one document as schedule works for the refurbishment works, and then a second document as a schedule of works essentially for the furnishings lists, so what you want to include in that kind of HMO property. The third document that we look at is almost like a diary, so it just sets out and outlines how that project should be running, so maybe how long it’s going to take. Is it a twelve week project, four week project, ten week project, whatever it might be, but not only that, what happens during that weeks. Maybe the first week is going to be a rip out, maybe week three is going to be some sort of plumbing works or electric work, whatever it might be that you have them kind of staged in that diary helps not only you, but the main contractor trying to understand kind of where the different kind of elements are going to be coming in terms of the different trades, when they’re on site, what needs to be ordered, all that kind of good stuff.
Whether you’re hands-on project managing, or whether you have a full kind of complete works contractor that comes in and does everything for you, whether you create or whether they create what is important is to try and have a diary of works and you can see then what’s going to be kind of done on that project on a weekly basis. The fourth document that we look at is going to be, again it goes alongside all these other documents, a floor plan essentially for that property. Now it doesn’t have to be to scale or you don’t have to be kind of architect trained or anything like that to create one, however what the floor plan allows you to do is start to put into place on a bird’s-eye view essentially what the property is going to start to look like. Bed positions or positions of chest of drawers, wardrobes, so where are you going to put the fire alarm, where are you going to put the light switch, where are you going to put the electric kind of plug sockets, radiators, all those kind of key items.
It can be quite hard to visualize if you don’t really have a floor plan or any form of assessment as to ultimately where you going to kind of put them in the property and how the property is going to look, because you might have in your mind an idea of where the bedroom furniture is going to go, but if that’s not translated to your electrician when they do the first fix and putting in the sockets, you’re going to run into difficulty because it might not kind if I suppose allow you to have the layout of the stuff that you wanted in that property. Before you start the refurbishment, before you kind of pick up tools and go down to site, anything like that, if you can get these four documents in place, it’s just going to make your refurb and it would go much smoother. To recap, we’ve got the schedule of works for the refurbishment, we’ve got the schedule of works for the furnishings, the project diary, so when things are going to get done, and then finally the floor plans for the property.
Hopefully that give you a bit of an insight in terms of how we currently manage our refurbishments. All of these types of documents and a range of other documents and stuff, we actually include for free of charge in our property training course. If that’s something you wanted to have a look at we’ll put some links below this video. We do a free training series as well, that’ll give you some insight in terms of getting started on a property, but now the VIP membership and the training that we do, we cover all of these kind of elements, we do case studies like this particular property that we’re in at the moment. The documents that I’ve just mentioned to you there, we include all of that within the training course as well. Any questions, please feel free to ask, obviously put them under the kind of the video below in the comments section, I’m more than happy to help.
Thank you for watching this video. If you like this content and you’d like to join our free online property training course we’ve got a link for it on this page, and in there we cover a range of different property strategies to help you get started either building a long terms property portfolio or creating cash flowing property business. We also look at ways to increase your return on investment with any of the property so you’re maybe considering, and we also have a couple of cheat sheets and downloadable documents in there as well. Simply click on the link to join the free training course today.
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