If you're hoping that as many tenants as possible will be falling over themselves to rent your property, it's essential that the decor and contents are up to scratch, both inside and out.
Preparation and planning
As with most things, preparation and planning on your part are the key to success.
• Set a decorating budget and time frame and stick to them.
• Consider whether you have the requisite skill and expertise to do the work yourself, thereby saving you money. But, be honest with yourself - it may be more cost effective and less stressful to employ a contractor.
Style
Today's tenants are discerning. The more stylish your property, the more rent you are likely to receive.
• Do not let your personal taste affect the decor of your buy-to-let property.
• Make sure the decor is to a high standard, up to date and well maintained at all times.
• Get some insider info - take a look at some new-build properties and get ideas from the experts as to how to decorate.
• Tailor the style of your buy-to-let property to the type of tenant you wish to attract.
• Clean, functional and modern kitchens and bathrooms are often tenants' priorities.
• Using light colours throughout not only makes rooms appear larger and brighter but it also encourages cleanliness.
Interior
Walls
• Paint is preferable to wallpaper because it is easier to maintain.
• Use durable high quality acrylic paint which will withstand wear and tear (pushchairs, bikes, shoe scuffs and furniture will undoubtedly knock the walls).
• Use wipe clean paint.
• Use light, neutral colours such as magnolia for the walls, white for ceilings and white gloss for woodwork. Think blank canvas in which tenants can imagine their belongings rather than bland.
• Mould and water resistant paint is a must for bathroom and kitchen walls. Condensation can wreak havoc if the wrong paint is used.
• Make a note of the name and brand of paint you have used for when you need to do touch up work or redecoration.
Flooring
• Consider fitting felt backed bleach cleanable carpets that do not need underlay. Replace every three to five years.
• Beige carpets can make a room look brighter, lighter and bigger when they are clean but are they practical for the tenants you wish to attract?
• Patterned carpets hide stains.
• Wooden floors, tiles and vinyl flooring are durable and easy to clean.
Lighting
• Ensure the property is well lit.
• Strategically place mirrors to maximise the light in your property and to make rooms appear larger.
To furnish, partly furnish or not to furnish?
Whether to furnish your rental property or not essentially depends on the type of tenants you wish to attract, market forces in the area in which the property is situated and the personal circumstances in which you find yourself. A deciding factor may be whether providing furniture will increase your rental income. If it doesn't then it may be better not to bother. Furniture requires repair and maintenance which means potential additional costs for you. If you decide to furnish then bear the follow matters in mind.
• All new and second-hand furniture must comply with relevant legislation.
• Supplying key appliances such as a cooker, washing machine and fridge freezer is more likely to attract tenants thereby increasing rental income. Ensure the appliances comply with relevant standards and legislation.
• Consider your tenants' requirements. For example, students will need a desk, bed and storage space. Other tenants will need chairs, dining room furniture and coffee tables.
• Provide an inventory. This will enable you to keep track of the condition of your property and its contents.
Exterior
First impressions count so ensure the following are in order.
• House number and/or house name is visible.
• Re-paint and touch up external paintwork as and when required.
• Make sure brickwork is clean and free of debris.
• Ensure guttering and fascias are clean, clear and in working order.
• Check pitched and flat roofs and make necessary repairs, replacing roof tiles and felt.
• Keep outside areas clear and make sure gardens are under control.
• Fit exterior lighting at the front and back of the property.
• Clean windows regularly.
If your property is decorated and maintained appropriately then you'll increase your chances of attracting and keeping tenants. In turn this means that your property is less likely to be vacant for long periods of time thereby ensuring a regular rental income for you.
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