Landlords: How to get more from your property.
For a lot of landlords renting out a property can be a big investment. You will want to get your property out there and make as much profit as possible.
So if you find yourself asking “How do can I increase my income from my rented property?” – take a look at our tips below.
Advertising
The best way to get more for your property is to market it to it’s full potential. There are other ways to advertise it than having the picture in an estate agents window.
If you want to cut some costs, you could put the photo up on social media. Using your local community Facebook pages would be a good place to start as they usually have lots of members and the word will spread fast. Twitter is also a great network to use, just post the picture online and hashtag the location i.e. #Leicester and you will get a response in no time.
The more people that see your property the better chance you have of getting a tenant. If you are not up to speed with social media, don’t fret, traditional methods can still work too, just post the advert in newspapers and local shop windows.
Inside décor
The state of the property will affect the price of the rent that you can charge. Obviously a property which is decorated to a high standard will really stand out and you can charge more. Tenants want a property which they can just move into, and not have to worry about cracks and damp etc.; so make everything is in tip top condition before you think about advertising it or showing people around. Even hire a Surveyor to assess the property before you start to market it.
Outside décor
As stated above, the property needs to look as presentable as possible. First impressions count, that’s why making sure the outside of the property looks attractive is essential. Taking a little bit of time to make sure there is no paint which has started flaking can make a whole lot of difference. Give those windows a clean, trim the lawn and your property will really stand out from the rest.
Location
If you haven’t already found a property, location can be a massive factor. Location really is key. Central locations are good, but having a parking space or garden can be a necessary part of a property search. Try your hardest to find somewhere which will tick all the right boxes. You can always do a bit of work to the property like convert a courtyard into a parking space to attract potential tenants.
Selling
If you can’t be bothered with the hassle of renting, you could always sell your property and potentially make some money from it. Obviously you will have to wait until the tenancy is up and give your tenants plenty of notice. Just make sure you have a plan in place before you plan to sell, you don’t want an empty property sat there for a long of time and not producing any income!
For any survey advice visit our website – www.rightsurveyors.co.uk. We hope you found our tips helpful and we wish you all the success in renting your property.
You May Also Enjoy
Landlord search activity spikes ahead of major Renters’ Rights Act changes in May
Highest ever price gap between first-time buyer and second-stepper home
Mortgage Rates and Human Behaviour: Why Small Changes Create Big Reactions
Nearly six in ten UK property purchases trigger AML red flags
Vanishing act of sub-4% fixed rate mortgages
