Samuel travelled to Doncaster to visit Tony’s HMO property as he has been struggling to let out the fifth room on the top floor, as well as been stung by an expensive utility bill. The house was extremely well kept and clean, however, there were two tenants who were having people stay over in the week who were not paying rent. As long as there was only the initial tenant signed on the contract, Samuel said not to focus on too much on this as Tony has not got the time to supervise who comes in and out of the property. Consequently, Tony asked if he should use the sixth room to let in the property. Samuel advised that it would be more beneficial to focus on renting out the fifth room instead so he could increase his monthly cash flow and use his time to get quotes for cheaper utility bills.
From a capital appreciation point of view, Samuel believes that Doncaster is going to benefit greatly over the coming years. Typically, property prices in the North of England are significantly cheaper than areas in the South, therefore, it is easy to assimilate that Tony definitely made the right decision with choosing his property to be based in Doncaster.
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