Becoming a buy-to-let landlord requires a lot of preparation. As the saying goes, failing to prepare means preparing to fail!
There are a number of ways in which landlords can prepare their property to make it available to rent. Making sure this is done properly will help in securing a quality tenant and the desired rental return.
Presentable
Allison Thompson, lettings director at Leaders, said, ‘presenting a home to rent in an appealing way, with quality fixtures and fittings, is a must for attracting good tenants and getting the best possible rent.’[1]
‘But it can be expensive and time-consuming so landlords need to find the right balance between short-term costs and long-term gains. Over the years Leaders has guided thousands of landlords in preparing their properties for letting in a way that will help them to secure and keep good tenants and maximise their returns while saving time and money in the long run,’ she continued.[1]
As such, here are some to tips to help landlords prepare their investment properly:
Don’t over décor-By sticking to neutral colours throughout the property, a home will appeal to all tenant groups. High-quality paints are the sensible option, as it will last for longer, meaning landlords will have to redecorate on a less regular basis. Doorstops are also a savvy choice, to protect walls from being damaged by doors handles.
Fit similar flooring- Fitting the same carpet or flooring in as much as the property as possible should ensure a discount for buying in bulk. What’s more, by keeping quantities aside, damaged areas can be easily replaced.
Prepare your property properly!
Keep the kitchen modern- A clean, modern kitchen will undoubtedly attract better tenants and a higher rent. Being the creative hub of the home, a well-thought out kitchen will go a long way in attracting the right people. Choose standard shapes and tiles for the worktops, which again can easily be replaced should they become damaged.
Boss the bathroom-There are a number of things that can be done to heighten the appeal of a bathroom. Installing a power shower or heated towel rails for example could be the little features that make all the difference. Again, installing a modern, stylish floor and features can also prove vital. Just don’t install a carpet!
Build the bedroom-Providing built in wardrobes in bedrooms is becoming more and more a required element for tenants. This will also save on having to buy and replace standalone wardrobes in case of damage. Allow tenants to add their own stamp to the room and the property as a whole.
[1] http://www.propertyreporter.co.uk/landlords/top-money-saving-tips-for-landlords-preparing-a-property-to-let.html