One of the many questions we get asked from our landlords is how we can let their properties quickly and to the right people. One of the best ways to do this is to maintain the quality of their stock.
Keeping rental properties in top condition at all times can benefit a landlord in more ways than they might initially realise.
Any responsible and conscientious landlord will be keen to provide tenants with modern, stylish and comfortable surroundings, but it is important to remember doing so can also have financial advantages.
If the property is well maintained and desirable, it will be easier to find a quality tenant to live there, and once they are in residence they may be happy to stay for longer. Maximising tenancies and reducing void periods can help you to achieve a more reliable income stream.
The more boxes the investment ticks in the eyes of prospective tenants, the higher the monthly rental will be set. It may seem to be common sense, but many landlords forget the value in maintenance.
Here are my five top tips to enhance your investment without breaking the bank:
1. Give the property a lick of paint between tenants. While this might not sound like a big deal, it will help to keep the abode fresh and clean. If you happen to live some distance from your investment, you should ask your property inspector to provide an honest assessment of how it can be improved.
2. Install wood flooring instead of carpet. They are a stronger and more practical long-term solution that will not require costly and time-consuming maintenance.
3. If the property is furnished, purchase new fixtures and fittings that will add style and neutrality to the interior.
4. There is much to be said for kerb appeal and I am an advocate of keeping the front garden and façade of the house or flat in top condition. First impressions are key and if your property does not shape up in this area it could be discounted immediately by many.
Painting the front door and removing weeds from the garden are among the best options in houses, while flat owners could be wise to speak to the block management company about cleaning and tidying methods.
5. Replace items such as shower curtains and toilet seats if they become dirty over time.
Investing in new and smart features shows you are serious about providing high-quality accommodation and can make your property a whole lot more attractive to tenants.
For more information on how to be a successful landlord, click here.