A PropTech supplier has launched a standalone HMO short form report template as it aims to create a consistent approach to valuations in one of the UK’s fastest growing property sectors.
In the last 12 months there has been a sharp rise in the number of valuation requests for HMOs, in particular small HMOs, and the VAS template covers areas such as whether the property is located in an established HMO vicinity, does all room sizes meet minimum requirements and clarification on planning status.
It also provides the valuer further opportunity to discuss area specific matters such as the supply of HMOs, what attracts tenants to the location and letting demand, among several other key sections.
A VAS spokesperson says: “The increased number of HMO valuation reports has coincided with a significant increase in post-valuation queries and this is because valuers are adopting different valuation methods. Small HMOs in particular are in the grey area of valuations, of which there are few sales, which is why we have spent the last few months creating an HMO short form report template to create clarity.”
