New Landlords: 3 Ways To Make Your Rental Property More Attractive.
For new landlords, the first venture into renting out your property can be quite daunting. Many factors come into play when assessing the correct rental guideline which in essence will be the key to securing tenants. Whilst the situation & size of your property will play a huge factor, you cannot change this. So, let’s take a look at the top 3 things you can control and how you can use this to your advantage.
The condition of your property is a key factor. A freshly painted apartment is more likely to generate interest than an apartment with paint work which has been neglected. It is surprising how different a property can look after a fresh lick of paint. Moreover, the property will show better on marketing portals, thus generating more interest. Small touches are often the most effective. Tenants will ultimately gravitate towards the apartments with a distinct style. Decor & choice of colour scheme can be the difference between a tenant loving the property and liking it. You want your property to stand out from the rest for the best possible reasons. Freshening up the property doesn’t always have to be a costly task. If you are needing help with interior inspiration, a company called Homewings offers affordable interior & design consultations. If you have a property that you rent out (or wish to rent out) but it needs some work, contact us here. We have done many refurbishments for clients. More information on this can be found by clicking here.
The long standing question from new landlords. Now, this is really dependent on the kind of property you have. What I mean by this is, who is your target market tenant wise? What kind of tenant is in your area? By considering this information, you can make a better informed decision on the style and quality of furniture you provide (or decide against furnishing all together). The best thing to do is seek your agents advice prior to purchasing furnishings. A badly furnished apartment can be just as bad as a dated apartment! For a better outlook on furnishings, check out our blog here.
3. Mod cons
There is no doubt that a tenant's ideal property is the one with the most mod cons. Tenants will often have a list of ‘deal breakers’ such as ‘must have a dishwasher’. Small tweaks to your bathroom or kitchen can boost appeal to tenants. For example, if your property only has a bath, installing a shower into the area can boost the attraction as most tenants prefer to have both. If you have room for a dishwasher, why not look into having one installed? Again, this does not have to be a costly process but can help a great deal in securing a tenancy now and in the future.
Whilst the above can be super useful for new landlords, this advice is easily transferrable to well seasoned landlords who are looking to maximise their properties potential. Anyone can adapt the above three tips to enhace a tenants attraction to their property. If you are a landlord and need some advice on your property, feel free to contact us here to see how we can help.