Britain’s ongoing housing crisis has seen property prices UK-wide take a steep incline, opening up the demand for rental properties. While the crisis may seem like brilliant news for landlords, it has initiated a knock-on effect. The increasing demand for rented accommodation has created a surge of investors buying to let, meaning competition between properties on the rental market is fierce. With this in mind, it’s more important now than ever before for landlords to generate maximum interest from prospective tenants by helping their properties to achieve their true potential.
Maximising the number of tenancies on the books is undeniably key to a property investor’s success. By following our room-by-room design handbook, you can create a modern and luxurious aesthetic guaranteed to help you find the ideal tenants.
Whilst it’s advisable for any landlord to redecorate their property every three years at a minimum, the property’s exterior will require continual maintenance. If the property is part of a communal building, its upkeep may be managed by an external party – but if you own the freehold for the exterior of the property, employing a garden maintenance service will ensure your property always creates a positive first impression. Maintaining gutter and drainage systems will also minimise the risk of incurring additional costs in the future – as poor drainage systems can affect the interior of the property, which is something any tenant will notice quickly.
When choosing the colour scheme for a rental property, neutral shades are generally considered a safe bet. However, research shows that white can appear cold in an unfurnished environment – while choosing to paint with off-whites and soft beiges in living and sleeping areas will maximise the appeal of the property. Besides ceilings and skirting boards, white should only be used in bathrooms (as it will reflect the necessity of cleanliness in this room). Silk finish and high durability paints will reduce the amount of visible damage caused to the property – meaning it’ll be easier to spruce up prior to your tenant moving in.
The kitchen is always a key selling point for renters. Dated units are one of the most off-putting factors for potential renters – so investing in new, contemporary units will pay dividends in the long term, even if they cost a bundle to buy and install. If your kitchen is small, it’s recommended that you use minimal decor in order to create the illusion of more space. Think neutral colours: grey and white are great at maximising space in more confined areas. Use a mould-resistant paint to prevent mould from building up – as this will eliminate some unwanted long-term costs.
The last thing a landlord wants in their property is damp, as this is highly likely to deter potential tenants. A bathroom’s wet conditions mean this is the first place damp may occur. Opting to tile the bathroom is often recommended, due to the waterproof and durable finish this solution offers – reducing the risk of damp. Moreover, bathroom tiles require less upkeep: you won’t incur any extra costs when repainting the room with anti-mould paint, or installing and maintaining an extractor fan. Putting in new grout regularly will freshen up the room and convince tenants that property maintenance is a top priority for you.
The bedroom should be a blank canvas for your renters. Use off-white shades on the wall and combine a neutral carpet for best results. If you’re furnishing, make sure the furniture is in proportion to the room. You want renters to be able to imagine themselves living in this space, so don’t over-clutter this room with accessories and busy patterns – instead opting for a few statement pieces here and there.
While it’s unlikely to be your property’s biggest selling point, upkeep is important in any loft space. Don’t let it dust over too much – and make sure it isn’t neglected in the long term. Keep the loft clean and open so that, when potential renters are exploring the property, they can get a real idea of the space available.
When it comes to attracting potential tenants, a proactive approach to decorating and maintenance is key. From the kitchen to the loft space, helping prospective renters to imagine themselves living in your property will guarantee that its interior was worth the investment.
Company bio: Tiles Direct is the UK’s one-stop-shop for a diverse range of wall and floor tiles – each available in a wide selection of materials, finishes, shades and sizes, and sourced from leading tile suppliers across Europe.