Could you be getting more money from your property investment? Gone are the days when professional tenants accepted low standards. The best tenants will pay more for an attractive home, so here’s what you can do to tempt them.
1. Kerb appeal
It’s important to make your property look good from the outside to make a great first impression on prospective tenants.
Whether it’s a house or flat, make sure the door looks clean and fresh – thoroughly clean uPVC doors or repaint wooden ones. Make sure the door furniture – knob, numbers, knocker, letterbox – look shiny and function properly. Ensure the locks are oiled and keys function well – no-one wants a place they have to struggle to get into every night!
Adding small shrubs in containers – even artificial ones if they are good quality – gives a welcoming air. If the outside is painted, check it’s not peeling, and get the windows gleaming.
2. Refurbish and redecorate
Take a look at your rental as if seeing it for the first time (sometimes taking photos will help, as it may be the first thing tenants see before they decide whether to view).
Is anything looking worn but won’t cost much to replace? Could a fresh coat of paint work wonders? Take a look at any interiors magazine and it will tell you the colours that are in fashion at the moment.
3. Consider renting your property furnished
This might appeal to young professionals who are unlikely to be lugging around sofas and treasured heirlooms. However, it could be less appealing to a family, as they may well have accrued their own furnishings. So think about the market in your area and the kind of tenant you want to attract.
Top-quality furnished rentals don’t have second-hand furniture. And think luxe touches, for instance quilted headboards, modern chandelier light fittings, perhaps a marble-topped circular dining table. Again, take a look at what designers are favouring just now, but nothing too quirky as it will soon be out of fashion!
4. Improve your storage
If you have a patio, terrace or garden, a sturdy lockable shed is a good addition. If it has room for tenants to store bikes, all the better. Or you could consider fitting a bike rack in a hallway and spray-paint it to match the walls so it doesn’t look too intrusive.
Fitted wardrobes are a great idea – make sure they have a mixture of drawers or shelves, and plenty of hanging space. You can have two levels of rails if the ceiling is high enough.
5. Offer high-spec appliances
Integrated washing machines, fridge-freezers and dishwashers give kitchens a streamlined look. Or, if there’s room, you could consider a stainless steel American-style fridge-freezer. Again if there’s room, a separate washer and dryer will be attractive to tenants, or failing that, have a machine which combines washing and drying, as struggling with space to dry laundry is a real bugbear.
6. Smarten up kitchens and bathrooms
A quartz worktop always appeals. It’s better than wood which looks attractive but will need revarnishing once a year and may need sanding and re-staining every few years. Marble is a luxury option but if using it, make sure you have several pot stands in the kitchen as it stains easily and doesn’t like heat.
Re-grouting tiles in kitchens and bathrooms is an easy task, and so is replacing sealants around the sinks, bath and shower. A glass shower screen is much more attractive than a curtain. And a good-sized, well-lit mirror is a must.
Vinyl floorings now come in designer colours and patterns. The top-quality ones are warm and soft underfoot, and easy to keep clean. They look high-end but are inexpensive to buy.
7. Allow pets
Landlords can raise their rents by around 10% in return for allowing tenants to have pets. If you do, let your lettings agent know and say so in the advertising.
Research by Rightmove shows that there has recently been a 120% jump in the number of tenants looking for pet-friendly properties, and since the Covid lockdowns, animal ownership has surged. Ensure the pets are housetrained and consider wood or laminate flooring as it’s easy to clean.
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Use some of these tips and you can charge more for your properties and attract the best kinds of tenants!
Here at Chimneypots, we know our rental areas well. Whether you’re buying an investment property from us, or we are managing your rental for you, don’t hesitate to make use of our extensive experience.