Preparing Your Block of Flats for Renting
Investing in and renting out property is a huge business in the UK, but if you’re thinking of giving it a try, you may find that it’s not as easy as it sounds to manage an entire block of flats. We’ve compiled a great list of things that must be done to ensure that you keep your tenants happy and make sure that your block of flats is 100% ready for renting.
Choose a Modern and Sleek Design
There’s no better way to entice potential renters than by giving your block of flats a beautiful, sleek and modern makeover that will make your property impossible to resist. One of the most common and well-loved interior design trends of 2019 is minimalism. Minimalism is a great way to achieve a modern and up to date look by using neutral or faded colours and using empty space as a selling point, rather than cluttering up the room, so why not give it a try and bring more clients to your block of flats?
Make Sure They’re Fully Insured
One of the biggest mistakes that landlords can make is failing to ensure that your property is fully insured with a reliable block of flats insurance company. Usually covering dangerous events such as fires, flooding, and storms, block of flats insurance is a great way to make sure that you’re protected against any accidental or purposeful damage that may happen to your property, as well as possible legal action.
There are many block of flats insurance companies out there, so it’s important that you directly compare insurance companies to find out which offers the best coverage for the best price.
Check that Everything Works Correctly
One of the most important things that must be done before you rent your property out is to check that every single amenity is up to date and working correctly. The reason that this should be checked and recorded every time you conduct a check is so that you are fully protected if anything breaks whilst your tenants are living in your property. If you have it recorded that the oven was working correctly before your tenant moved in, you have proof that you are not to be held entirely responsible, which can come in handy for any future legal or monetary purposes.
Have a Team to Help You Manage
Just because you own the block of flats it doesn’t mean that you need to run them all by yourself. Before you begin renting, you should make sure that you have a fully equipped and dedicated team on your side that should include but is not limited to: maintenance, a receptionist, and an accountant. Don’t put it all on your shoulders, as if there is a maintenance problem in a few flats at one time, you can’t cover all of the issues, so you’re going to need some help.
Buying and renting out property is an immensely popular business, but to be successful you need to ensure that you are doing everything you can prepare your block of flats before you rent them out to new tenants. Make sure that you’re as prepared as possible by following these simple steps and give your tenants the quality that they’re paying for.