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Being a landlord is by no means an easy
undertaking. Competition for exemplary tenants is fierce, maintenance can be
costly and time consuming and your legal obligations can at times feel like a
web of confusing, ever changing jargon. But get it right, and investing in a
property can be one of the most lucrative and satisfying investments you can
make.
With renting becoming increasingly
expensive and in turn tenant’s expectations and demands becoming harder and
harder to satisfy, take a look at our top 5 tips below to ensure that your
property is in tip-top shape to help boost your rental yield and secure long
term, happy tenants.
Think outside the house!
Don’t put potential tenants off with a drab and dreary façade or
un-kept garden. First impressions count! The exterior of your property is a
reflection of its interior condition.
Keep it clean, tidy and attractive. In some cities, outside space is a
luxury that comes at a premium, so don’t waste it! Not only can a well
maintained garden act as an extension of the interior living space, but it can
also help to secure long term, reliable tenants, and act as a strong selling
point should you come to put your property on the market in the future.
Focus on the wow factor
The appearance and functionality of your property’s kitchen and
bathroom should be at the top of your priority list, especially if you are
looking to achieve the greatest possible rental yield. With the condition of these two rooms often
being of the utmost importance to individuals looking to rent or buy, investing
in bathroom and kitchen renovations, although often costly, can have huge
benefits. Add value to your property, wow potential tenants, and justify your
rental rate, all whilst minimising future maintenance requests.
Keep it clean
This may seem like an obvious tip, but we can’t stress enough the
importance of keeping your rental property squeaky clean and clutter free. A
full overhaul is not always needed, sometimes a fresh lick of paint and a deep
clean can do just the job to turn a dull and dingy dwelling into a bright and
attractive home. Hiring a professional cleaner is well worth the initial output
for the results achieved.
Spruce, Spruce, Spruce!
Interior décor can play a major factor in the appeal of your property.
Get it right and prospective tenants will be flocking for viewings. Get it
wrong and your property could quite literally be left on the shelf. Keep it
simple, neutral and homely. Staging furniture, lighting and props can help
prospective tenants envision themselves living comfortably in your property.
House or home?
The excitement of becoming a landlord and renovating a property can
often cloud the decision making process. Don’t forget that your primary goal is
to make money from your investment. Over renovating and trying to achieve the
picture perfect finish that you would like to see in your own home is not
necessary. Remember that tenants will most likely view your property as
temporary accommodation and will not treat it with the same care as they would
their own home. Spend on what you need, not on what you want to maximise your
profit.
Thinking of investing in a buy-to-let? Speak to a member of our lettings team today to see how we can assist you with advice on current investment opportunities in your area.
West Bridgford Office
3 Fountain Court, Gordon Road,
West Bridgford, Nottingham NG2 5LN
Keyworth Office
7 The Square, Keyworth,
Nottingham NG12 5JT
SALES: 0115 981 1888
LETTINGS: 0115 914 1122
PROPERTY MANAGEMENT: 0115 982 4949
Please note that calls may be recorded for training and quality purposes.
Royston and Lund are independent, award winning Property Specialists with branches in West Bridgford and Keyworth. We are passionate about the service we offer and are proud to employ the most experienced and professional group of people in the area.
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Royston & Lund Estate Agents Ltd. Registered in England. Company No: 4239895. Registered Office Address: 3 Fountain Court, Gordon Road, West Bridgford, Nottingham, NG2 5LN.
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