How To Make Your Property Attractive to Renters
When you own a rental property, you must constantly be aware of the challenges involved. It’s a delicate balance between covering the basic costs, striking a profit and doing everything above board.
In addition to this, you also need to attract the right tenants. To do this, your property needs to come across as attractive.
Through today’s article, we will now look at some of the main points you need to consider to ensure you stay on the right side of things.
First impressions
You only get one chance to make a first impression, and it’s no different when it comes to rental properties.
So, before you even think about marketing the property, you need to ensure the exteriors look fit for purpose.
This doesn’t have to cost you a fortune. In most cases, it comes down to basic maintenance such as mowing the lawn, painting the exterior of the building, replacing old windows and general tidying up – all of which will make a huge difference to how your property is perceived.
Go with neutral colours
When it comes to the property’s interior, it’s often better to go for neutral colours.
This means white walls, carpets or any other type of flooring that won’t be too overpowering, and basic furniture such as sofas, beds and wardrobes.
Doing this will be much easier to rent it out, as the vast majority of tenants will prefer to add the personal touches themselves.
In addition, it will be much easier to clean between each tenant.
Safety first
Safety is a huge issue when it comes to rental properties.
You need to make sure that the property is fit for purpose and that you’ve taken all of the necessary steps to make sure that it is safe for the tenants (as well as yourself).
This means checking to ensure that the electrics are safe, that all the furniture is secure (in case of children), and that there are no signs of dampness, mould or other health-related issues.
You also need to ensure that the property is well-insulated and meets the latest energy efficiency regulations (such as ensuring that the building has an EPC rating of at least E).
Finally, you need to take out landlord insurance and make sure that the property is covered in the event of any issues.
Be upfront about your policies
It’s also important to be upfront about your policies.
This means being honest about the property’s condition, the amount of rent you expect to be paid, and the length of time that you’re expecting the tenancy to last.
If you’re expecting the tenants to pay their own bills, this must be made clear from the outset.
The same goes for any fees you intend to charge (including the return of the deposit) – it all needs to be laid out in black and white.
You May Also Enjoy
Rightmove comment on Base Rate hold
Victorian homes reign as most sought-after period property style
Breaking Property News – 09/05/24
Average 5-year fixed mortgage rate now above 5% for first time since January – Rightmove’s weekly mortgage tracker
Breaking Property News – 08/05/24