Letting property is an increasingly profitable business that allows those with the initial capital to make a property work for them without having to put in a great deal of effort. There are however a variety of essential considerations that must be made before putting a property up for let. Of these considerations the presentation of a property is vitally important. With high presentation levels it will be possible for landlords to achieve a higher rental income. Hopefully the following pointers will help landlords receive more rent; it may mean putting effort in at the start, but any effort will be ultimately worthwhile.
Firstly, to make your let property more appealing the use of neutral colours is highly advisable. Most tenants will be put off by a bright orange wall; instead, using creams and plain whites is the best course of action. With neutral colouration however, be careful not to go too pristine, if the walls are too white, it will be difficult to keep the property clean.
If your property to let will be listed as a furnished property it is essential to use high quality items. Naturally carpets and curtains should be of a high quality and hard wearing. This means they will last longer and will last through the tenancy of more than one tenant. Easy to clean surfaces are also advisable, laminate flooring is usually the tenants most preferable material as it is easy to keep clean and any spillages can be rapidly mopped up.
If your property to let is to be listed as unfurnished there are a number of minimum items that should be included. A cooker is vital although items such as fridge freezers, washing machines will normally be included. These items should be checked by an electrician to ensure that they are in safe working order and pose no threat to tenants.
If you are pursuing higher rents for your let, it is advisable to create a spacious kitchen with plenty of cupboard space as this will entice renters. Additionally the kitchen should be modern and contemporarily styled as this will once again, appeal to tenants.
As well as the importance of the kitchen, a modern bathroom will also secure a higher rental price. A shower is a minimum requirement although many let properties include a bath. The bathroom cannot be underestimated as one of the most important rooms in any let property.
In terms of heating you should ensure that the system has a thermostat and is efficient enough to keep the property comfortable in the winter. Renters should check the efficiency of the heating as poor insulation will result in higher heating bills.
The overall style of the let property should be clean and comfortable. Try to de-clutter furnished properties as more space is appealing to tenants. In addition, at the end of each tenancy it is important to have professional cleaning services give the property a deep clean.
If the let property has gardens more rent will be achievable if they are well maintained. This means cutting the grass, making sure hedges and shrubs are clipped and the borders are neat and tidy. It may even be worth putting some gardening equipment in the property so tenants can maintain the gardens themselves. As part of this, any outbuildings such as sheds and garages should be cleared of rubbish.
Hopefully this advice will give landlords the best chance of receiving high rent when putting their property up for let. If the effort is put in early on during a tenancy it is possible to reap the benefits with the minimum of fuss. Strike up a relationship with the tenants and you should have a hassle free way to make money.
Real estate expert Thomas Pretty looks into how landlords can prepare their property to let and gain the highest rental income.