keep your tenants happy and ensure your property is sought-after when its empty
As a landlord, making sure your property or properties are in the best possible condition is more than worth your time and any financial outlay - large or small.
In the long run, tenants will not only stay there longer, but when the does become empty, there will be a hive of interest from prospective residents. so the likelihood of it remaining empty for sustained periods is massively reduced.
A lettings and management company can only do so much to find tenants for properties. The rest is down to the landlord being prepared to commit to making a property look its best, so a lettings and management company can put its marketing expertise into action.
People are becoming more discerning in what they expect from a rental property, and this is certainly true when it comes to students – long gone are the days where a student is more than happy for a dingy, small living space, with a tiny fridge – as long as it’s cheap.
Here’s our top 5 ways to make your property standout in the market:
1. Painting the walls
You don't have to spend big to make a visible difference. A new lick of paint in calming colours – such as cream or magnolia – throughout the property make it feel more homely and create better lighting dynamics. Subconsciously, would-be tenants will be drawn in.
Resist the temptation to go for more unusual or extravagant colours, chances are that’s not going to be most people’s cup of tea and if you've really gone obscure, it could even put them off the property completely.
Also, pick a scheme and stick to it.
A good, quality carpet goes a long way. You don’t have to go mega expensive, but people really appreciate carpet that looks fresh and clean.
A lettings and management company will make sure carpets are maintained and cleaned professionally if the tenant hasn’t done this themselves after moving out.
But it’s worth considering upgraded the carpets when a property is vacated, especially if it has been a longer tenancy. Good quality, short pile carpets are great for areas of the home that receive regular footfall.
If you’ve decided to have your property furnished the good news is you don’t necessarily have to go down the gleaming, brand-new route.
A great alternative is using recycling websites like Free Cycle and Gum Tree where there’s opportunity to find unwanted furniture of all types, in very good condition.
Facebook Marketplace or local selling groups are another good way for finding items that can save you money but are still of good quality.
Pick your theme, whether it's traditional or something more modern and minimalist, then get out there and start hunting those furniture bargains.
4. Bathrooms and Water Closet
It’s not rocket science when it comes to properties, people want a relaxing living room, a bedroom that’s conducive with getting a good night’s sleep and a kitchen they're happy with preparing and storing food in.
The bathroom is just as important, and needs to have been considered through the lens of cleanliness and practicality. We strongly advise having a good shower that’s powerful enough for adequate water dispersal and a good bath if there’s room. Consider replacing older, limescale-afflicted taps and plug holes .
Gleaming chrome always looks the part.
Look at the tiles and grouting, if it’s dulled, stained or has mould, sort the problem. Because the bathroom is such an important area, its definitely worth considering completely redoing the bathroom. The benefit will be worth it. This is doubly-so if the ceramic sink or toilet is cracked or damaged.
Another thing, always go for tiled or laminate flooring in the bathroom, a carpet (believe us, we’ve seen it) is harder to keep hygienic in a bathroom and it will get wet all the time which is bad for the carpet, not to mention your feet. Put simply, avoid a carpet in a bathroom if at all possible.
5. If you’re aiming your property at multiple students
If you have a multiple bedroom property that could accommodate a number of students, keep in mind the balance between privacy and the communal nature of the household.
So look at things like the locks on bedrooms are secure, there’s plenty of cupboard storage in the kitchen, and perhaps have multiple fridges and freezers so people can have their own food storage areas.
Elsewhere, don't forget to make sure there's enough sitting areas in the communal lounge for the amount of occupants there will be. L-shaped settees and sofas are great way to get more people seated in a smaller area.
These are just some of the ways you can improve your property, of course what you spend is entirely up to and you might even decide you want to go for full renovation and really go to town. Doing this kind of thing means you can target different types of tenants and hopefully, raise the monthly rent accordingly.
Or head over to www.skybluehomes.co.uk/valuation for a free evaluation and find out how becoming part of the Sky Blue Homes family can benefit you and your property portfolio.