067 When supported living HMO's go wrong with Richard Nicholls

In this episode Richard Nicholls discusses his experience of viewing and valuing thousands of HMO's many with supported living tenants. He openly talks about some examples of poorly maintained properties and how he feels property investors are often unaware of what they are entering into by signing a supported living lease. He offers some great advice on due diligence with practical things you can implement. If you are thinking of letting a property to a supported living provider this is an essential listen. Richard set up The Property Advantage several years ago with the intention of professionalising the HMO sales market for sellers and buyers, a market that is notoriously frustrating. Since then, The Property Advantage has grown to become a well-known specialist HMO sales agent in the U.K, with thousands of HMOs appraised and valued nationally each year, 700+ visited by Richard personally and hundreds sold and completed. This includes HMOs all over England, Wales and Scotland and with every tenant type from 'professional', working, student, charities and supported living leases to name a few. Connect with Richard: www.thepropertyadvantage.co.uk Facebook - https://www.facebook.com/richardpropertyadvantage LinkedIn - https://www.linkedin.com/in/richard-the-property-advantage-18b09617b/ Lisa began property investing after a long nursing career. She initially developed heritage properties and then a chance encounter led her to discover supported living. She realised this was a powerful way to invest in property while creating homes for those who need them most. Lisa set about discovering why property investors struggle to let their properties to supported living providers and why providers struggle to find property to let. She has been educating people, raising awareness and working on solutions to this problem ever since. Lisa is the host of the Supported Living Property Podcast and YouTube channel and hosts a Facebook Group where people can learn, network and discuss supported living. You can find out more about Lisa here:  www.lisabrown.uk Download your free guide to Supported Living Property here: https://lisabrown.uk/supported-living-property-guides-to-download/