Landlords – Have Your Prepared Your Property for Rental?
You’ve done your homework and bought your investment property in an up-and-coming area, with good transport links and local amenities. Now comes your next important task – preparing the property to be let.
How you decorate and prepare a buy-to-let property can mean the difference between well-paying tenants and no tenants at all. Does this mean that an expensive ‘changing rooms’ style make-over is in order? Definitely not! You can easily achieve an attractively finished property on even the most basic budget and still have a significant effect on the quality of tenant you attract. Not to mention the amount of rent you’ll be able to charge.
Think ‘Long Term’
Preparing a property for rental isn’t about dramatic or expensive make-overs, you want to opt for long–term appeal and convenience that will not only benefit future tenants but also make life easier for yourself.
For example, you could return the walls back to their plastered finish to help make re-decorating easier between tenancies. You may also want to de-personalise your properties before showing to tenants. New tenants may not be impressed by your own personal choices in decor and will want to see a property they can imagine making their own. Tastes vary greatly, so aim to create a neutral theme that will not only appeal to tenants looking to leave their own stamp on the place, but will also be easier for you to redecorate when it’s time to look for new tenants.
Make Smart Furniture Choices
Even if you plan to let the property unfurnished, at the very least you will probably need to provide white goods. If you do choose to furnish your home, then always opt for something modern yet sturdy. Cheap, poor quality furniture will fall apart quickly and need frequent replacing. So be smart and invest in simple, yet high-quality pieces that will appeal to tenants time and time again.
It’s also important that you consider the dimensions of your investment property and the storage space it can offer. If you’ve got a compact space on your hands, avoid overcrowding with over-sized furniture or too many pieces.
Opt for Hard Wearing Floors Where Possible
Another cost-effective and convenient tip when preparing your buy-to-let, is to go for tiled or wooden flooring where possible. More hard wearing floors such as these are not only easy to fit, stylish and economical – but most importantly, they will better stand the tests of time.
Have the Heating System Serviced
Last but not least, before a new tenant moves in be sure to have your heating system serviced. An engineer will be able to advise you on how old your heating system is, what condition it’s in and whether you may want to consider a new installation to ensure you have no breakdowns during a tenancy.
As a landlord, it’s the little things that all amount to what makes a property appeal and retain tenants. By making even just a few simple changes, you’ll not only attract a higher caliber of tenant and earn a greater rental yield, you’ll also be making life much easier for yourself as a successful landlord.
Thinking of investing in your next – or first – buy-to-let property? Need help securing a mortgage that is right for you? Contact us today on 01702 619221 or you can in touch online, here.