Adding value to your rental property
As a landlord, you’ve calculated the current rental value of your property or properties and now want to think of ways to help increase this value. Here are some tips to help you do just that:
- Cover the basics
Protecting and increasing the value of your property is easier than you think. Looking after the basics is the simplest and most important action you can take, which could include regular maintenance checks with Property Maintenance Gloucester and end of tenancy cleaning. A thorough carpet clean, polish on the fixtures and full appliance checks should be part of in-between tenancy refurbs. Simple cosmetic fixes and repair jobs can be completed with little cost if they are completed regularly. For Property Maintenance Gloucester, visit Redbridge and Sons.
- Focus on the main areas
The two most important rooms in a rental property are the kitchen and bathroom. Investing in these rooms can help increase the rental value and you don’t even need to carry out major work. There are loads of ways to spruce up a kitchen and bathroom without breaking the bank. Just make sure the furniture and fittings are contemporary and neutral. Both rooms should be clean, well-sealed and ventilated to avoid damp problems.
- Appeal to a wide audience
Always go for mass appeal. Whilst it might be tempting to decorate in a style you like, neutral is the best palette so tenants can feel they are able to make it their own. Also, you don’t want to put people off, who might not share your tastes. Think stylish but plain furniture and neutral paint schemes to appeal to the widest number of potential tenants.
- Don’t overlook the garden
Even if the garden space is tiny, it can still be a useful asset for rental values. It does, however, need to be well maintained. Make it clear in the tenancy agreement who will be responsible for tending the garden, but before a tenancy begins, clear the weeds, tidy the space and leave it well-kempt and accessible.
- Additional attractions
In areas that are highly competitive, you might wish to consider a few added extras to make your property stand out from the crowd. High-end kitchen appliances, chic lighting and a security system can attract tenants who have a bit more to spend and provide a more luxury feel to your property. Small investments such as wood flooring or a power shower can reap the benefits in the long term.