Rental property demand is high, however, there are many areas that could easily put a good tenant off renting your property. Here we offer some hints and tips on a successful let.
Stick with neutral colours and simple furnishings – do not get personal with colour. Neutral and simple gives tenants an idea on how their own items/furnishings will fit into the property.
All tenants have different tastes. Have a good idea on what type of tenant you want, whether it be professional or student, these types of tenants usually have different expectations.
From our experience, students usually look for comfort and modern appliances, whereas professionals want modern and stylish but not too fussy. Families on the other hand will usually always have most of their own furniture so they will need a blank canvas to work with.
Carpets in bedrooms should never be cream or light colours, otherwise you’ll look at replacing at least every three years, depending on how often your tenant(s) stays. Go for medium dark such as dark beige or grey. Laminate or wood flooring in living areas, hallway and, vinyl flooring in bathroom and the kitchen is best. Where possible, avoid any concrete type tiles. Yes, they look great, however, should you have a big plumbing issue and the plumber needs access to the floor, well, need I say more …. and with tiling walls, try to avoid tiles altogether and use wet-wall instead. Or at least, consider part tiled. Ask your tiler to avoid areas where should there be a plumbing issue, it should be easily accessed without having to rip the tiles down. A costly nightmare.
You should always provide standard white goods. If not new, then make sure they are in good condition and meet the latest fire and safety regulations.
White goods look better if they fit into the space they sit in. Free standing appliances in a space that leaves big gaps either side just looks cheap.
Less is more. Too much furniture does not let the tenant see the floor space. If you are offering as a furnished let, two sofas and a coffee table in the living area really are all that is needed. You may also want to consider a good sized dining table with chairs, either in the living area or kitchen. All depending on what floor space you have. Work with what you have, do not clutter any space.
Any maintenance issues should be dealt with before doing viewings. Signs of dampness, holes in walls, redecoration needed, etc, all of these factors could put a good tenant off renting your property. Spend a few days on maintenance. It will be worth it, less headache for you and an easy move in for the tenant.
Clean, clean, clean. Everything! Have a deep clean before doing viewings, this should include windows and, all appliances in the kitchen – don’t forget ovens too. If tenants are very interested in your property, they usually start opening cupboards and looking in ovens, microwaves, etc. Not a great start if they find greasy appliances or see dirty windows.
Opening windows (if it’s not too cold outside) will also present a nice airy feel when showing any prospective tenant your property.
For holiday lets, we suggest a deep clean every 6 months, and for residential lets we suggest a clean at move-out stage, if required.
Lighting is an important aspect, both internally and externally. Externally, a working security light would give tenants peace of mind, especially people living on their own. Internally, make sure all lighting has working bulbs and good lighting. Poorly light rooms will put tenants off.
Remember, the first impression is the lasting impression. Get it right first time and you may end up with a tenant who rents your property for many years to come.
If you’re a property rental investor, give us a call today. We can offer advice on the best local rent spots, your expected yearly rental income and, we can help you once you’ve purchased your property; from setting up your rental home to finding a tenant, whatever your needs, we’re here to help.
If you’re not sure about working with us, why not send us an email and we can give you details of landlords we’re working with; from local landlords, to London landlords and even our overseas landlords. They’ve all invested in Dundee and Fife and use our services, from finding them properties, to our tenant find or full management service. And don’t worry, we discuss with our landlords before giving you their details. So you have peace of mind we take our data protection seriously.
New property investor – always select a good location. Now, this doesn’t necessarily mean the best or most expensive location. A good location is where most renters want to live. Depending on your target market, you could be looking at areas where the nearest schools are located, good transport links, near universities, etc.
You need to match the kind of property you want to invest in with the type of tenant(s) who want to live there. Very simple but, very important.
Article written by Nykky Banks, iLet Owner & Property Manager.