Preparing a Schedule of Works
Turn the Refurbishment Plan Into Clear Numbers
A schedule of works sets out exactly what will be done, how much it should cost and when each stage is expected to be completed.
For an HMO conversion, it should cover:
- Structural and building works
- Fire safety and compliance upgrades
- Kitchens, bathrooms and communal areas
- Bedrooms, doors, flooring and decoration
- Plumbing, heating and electrical work
- Planning, licensing and building-control requirements
- Professional fees and contractor costs
- Expected start and completion dates
- A sensible contingency allowance
Lenders may use the schedule to assess the project cost, proposed drawdowns, property condition and exit strategy.
The clearer and more realistic it is, the easier it becomes to arrange suitable funding and keep the project under control.
