Preparing a property in an effective way prior to making it available to rent can help landlords to secure a quality tenant and a great rental return.
Michael Cook, National Lettings Managing Director at Leaders, says: “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.
“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.”
Michael has revealed his top money saving tips for letting property, designed to help landlords with this important part of the letting process:
Stick to neutral colours throughout to ensure your property appeals to all types of tenants. Opt for high-quality paints as the colour will last longer and you will need to redecorate less frequently. Fit doorstops on every door to protect walls from being damaged by door handles.
Fit the same carpet or wood flooring throughout as much of the property as possible as you should receive a discount for buying in bulk. Put large remnants aside to be used for patching up damaged areas to avoid the expense of new flooring. Use a stain resistant carpet and good quality underlay so it lasts longer.
A modern kitchen will attract tenants and a better rent. If you are fitting worktops it pays to fit it in sections so that if it gets damaged you can replace just one section rather than the whole worktop. Choose standard size and shape tiles only in readily available colours as they cost less and can be easily replaced if damaged. Kit out the kitchen with catering-quality crockery, as these items are less likely to chip or crack and can be replaced on an item-by-item basis should any be broken.
Choose a power shower over an electric one as they tend to scale up less, are more reliable and typically do not need to be replaced as frequently so will save you money in the long run. Your tenants will appreciate a good shower too.
Built-in wardrobes in bedrooms add value and, with a fresh lick of paint, can be made to look as good as new at any time. It can also save you having to buy and replace standalone wardrobes in furnished properties.
Paving a small garden is a good way to ensure it is easier to maintain. It also means you don’t need to maintain it during void periods or have the cost of providing equipment such as a lawnmower. It’s more convenient for your tenants too.
For more information and tips for letting property or making the most of your property on the rental market, book a rental valuation and speak to your local property expert.
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