If you’re a landlord looking to provide a quality rental for your tenants, while seeking a healthy return on your investment, it’s worth thinking about how you can improve your property in a way that won’t break the bank.
Stats show that in 2022, 19% of households in the UK were occupied by private renters, and the general consensus should be that landlords want to provide the best housing possible for their tenants. Taking pride in your property will prompt your tenants to be equally fond of their home and being open minded to other requests such as couples and pets may help to make your property more appealing. Here’s how you can make your property more desirable.
Updating and upgrading furniture
Simple upgrades can set things off on the right foot. Something as simple as a lick of paint or adding door catches from RS can work wonders. Keeping on top of this over time will keep things looking neat, especially if your tenants have children or pets. Make sure you update any ageing or impractical furniture as well, so that tenants continue to live comfortably and functionally.
Go green for tenants
Sustainability is on the agenda for many people in the UK and renters especially, need to rely on their landlord to help contribute to more sustainable living habits (and simultaneously reduce energy bills). Make sure the property is well insulated and consider installing low-energy devices such as light bulbs or eco-friendly white goods in the kitchen. By making these changes, you will also help to improve your energy efficiency rating in line with upcoming Energy Performance Certificate (EPC) standards.
Add a room or space
If you make the most of the space you have, you’re more likely to see a better return on your rental. Is there scope for a loft conversion to create another bedroom? Is there space for another bathroom? Or perhaps a study area in case tenants work from home? By anticipating your tenants’ requirements, you’ll help to foster a more harmonious relationship, showing that you’ve considered their requirements for living comfortably and optimising the space they’re set to live in.
Once summer rolls around, tenants will be searching for opportunities to spend time outside. Consider whether you can create a pleasant outdoor area for them. If the space is small, adding potted plants or providing a chair or two can make a huge difference. Having a sufficient outdoor space is hugely important for families especially, so that they can spend more time outside without feeling cooped up inside the house. An attractive garden or outdoor space is hugely appealing for prospective tenants and can justify you charging more, so make sure you take advantage of this.