PROPERTY: Running successful HMOs with Matt Baker of The HMO Platform

In this episode, Rob is joined by Matt Baker. Matt is the co-founder of Scott Baker properties, the HMO platform, and Head of Business Development at ko home. He is also the author of The Next-Level Landlord. Matt has taken the HMO and co-living models in new directions. Increasing profitability while fully meeting the changing needs of modern tenants.

Matt and Rob talk about raising finance for your first property, quickly overcoming roadblocks, and setting yourself up for HMO success. During the episode, Matt walks the audience through how to choose an HMO property. He also explains the difference between licensing and planning and provides some tips on how to navigate both processes. They also discuss article 4, councils charging council tax per room and how to manage rising energy costs.

 

KEY TAKEAWAYS

• When you are faced with a business issue, don´t get upset. Simply ask what is the solution, what can I do to move this along?
• A lot of professionals, e.g., solicitors are not used to thinking outside the box, so you may have to prompt them to do so.
• Putting the tenant’s (your client´s) needs at the heart of what you do always produces the best results.
• If you make a mistake, write it down in a register. Along with what you will do differently, next time.
• When deciding if HMO will work in a particular town or city, the demographics of the population is an essential consideration.
• HMO planning and licensing are different things. Matt explains how and provides some tips to help you to navigate each process.
• Facility standards are high, but usually, you can come up with a solution.
• Most tenants understand that rising energy prices mean higher rents.
• Some councils are classifying HMOs as individual apartments for council tax purposes.
• Never underestimate the importance of space, including outdoors and good storage.
• Often it is best not to skimp on size to squeeze an extra bedroom in. Matt explains why, in the podcast.
• Never use a letting agency that does not specialise in HMO.

 

BEST MOMENTS

‘It really comes down to that tenant first mentality, which really embodies the idea of co-living.’

‘Licensing and planning are two very different things.’

‘HMOs are tricky but highly rewarding.’

‘If you´re going to get an agent, they must be specialist HMO agents.’

 

ABOUT THE HOST 

Rob Smallbone, the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?

Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.

Buckle up, sit tight, and enjoy the ride that is life.

 

ABOUT THE GUEST

MATT BAKER

Bio

Co-founder of Scott Baker Properties, The HMO Platform, Head of Business Development at co:home, and #1 Best Selling author of Next Level Landlord. Matt is a specialist in Next Level HMO® and coliving developments. He is recognised in the property industry as one of the country’s leading HMO and coliving educators.

Starting life as a musician, Matt has always had a creative side, composing, and performing as a pianist in numerous collaborations. He also grew and sold a successful music education business. 

Matt aims to create meaningful relationships within his property development and training businesses. This customer-first approach has led to the successful creation of a £5 million property portfolio in his first 4 years of investment, using the majority of investor finance.

Matt’s wider vision is to have a positive impact on shared living communities across the globe to create lifelong peace of mind and well-being for both tenant and landlord.

 

Contributor:

• HMO Magazine
• YPN Magazine
• Coliving Insights

Features:

• PIN Network Meeting 
• ExPat Radio
• Inside Property Investing Podcast

 

Social Media Links

Personal @clearlymattbaker
Linked In: https://www.linkedin.com/in/clearlymattbaker/
Instagram: https://www.instagram.com/clearlymattbaker/
Facebook: https://www.facebook.com/clearlymattbaker.property/
Website: https://www.thehmoplatform.co.uk/
Next Level Landlord book: https://www.amazon.co.uk/Next-Level-Landlord-Develop-Co-Living/dp/B09KY815QQ

 

The HMO Platform @thehmoplatform

Linked In: https://www.linkedin.com/company/the-hmo-platform/
Instagram: https://www.instagram.com/thehmoplatform/
Facebook: https://www.facebook.com/thehmoplatform/
Website: https://www.thehmoplatform.co.uk/
HMO Licensing episode: https://www.youtube.com/watch?v=f2nF4JZq0EE

 

BOOKS 

Buy To Let: How to Get Started = https://amzn.to/3genjle  
101 Top Property Tips = https://amzn.to/2NxuAQL 

 

WEBSITE

www.tpnpodcast.com 

 

SHOP  

www.tpnpodcast.com/shop 

 

SOCIAL MEDIA  

Instagram - https://www.instagram.com/thepropertynomadspodcast/  
Facebook - https://www.facebook.com/ThePropertyNomadsPodcast  
YouTube - https://www.youtube.com/channel/UCejNnh8OEUXSrdgFDFraWxg

 

PODCAST  

The Property Nomads Podcast:  
I-Tunes = apple.co/3bHNn5G  
Stitcher = bit.ly/3cFQVqe 
Spotify = spoti.fi/2XaZliP 

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast