If you are about to become a landlord, there are certain things you can do to make your property more appealing to potential tenants. We have put together a variety of ways in which to improve your property and let it out with ease. Find a conveyancer here.
How Do I Prepare My House To Let?
Being a landlord takes more than simply offering a property to rent. You will need to invest time, effort and money to achieve and maintain a property to a safe and comfortable (not to mention legal) standard. Doing so will attract the right tenants and help you keep them.
That is why we have put together some essential updates that can make your rental property so that it appeals to a wider audience. We will cover everything including decor, buy to let solicitors and everything in between. We offer tips on how to help your property make a great first impression by renovating practical spaces like the kitchen and bathroom.
The first thing we advise you to do is to carry out a deep clean of your property. There is no better way to begin making a home look its best. Cleanliness can be a deciding factor for many people when renting a property. First impressions with regards to cleanliness most definitely count. We advise you to invest time in some serious cleaning and give your property a fresh, new feel.
You might choose to invest in a professional cleaning company. A professional deep clean needn’t cost the earth. It is a good investment if it gets your property let out as soon as possible.
Make A Good First Impression
The first person that your tenants will get off your property is that given by the letting agent. Picking a letting agent who will take the time to get to know your property is important. They should give you the impression that they will do all they can to let it for you. It is them who will be marketing the property and organising contracts . You need to be able to trust your agent to find the right tenant for you.
Look at the photographs they have taken of other properties. Are they inviting and well presented? Will they draw in potential tenants?
Also, the better you present your property the more it will appeal to renters, so stage it as if you would a show home.
Find a conveyancer. Conveyancing Store provides fixed fee solicitor conveyancing quote comparisons
- Organise Storage Areas
You can show your potential tenants how practical your property is by offering plenty of storage. By doing this, your tenants can see that they will be able to keep the place tidy and organised.
- Freshen Up Worn Spaces
With rental costs at the highest they have ever been, keeping your property in tip top shape has never been so important. Try and assess objectively whether your property needs a quick refresh. Do the walls look a little worn or is the kitchen looking tired? A few affordable but impactful improvements can increase the appeal of your property as a potential home.
If you decide to freshen up the paint work, opt for neutral colours such as white. This will be easy to retouch every so often. Or choose colours that create a relaxing environment that will go with most items and styles of furniture. It will allow tenants to visualise the space as their own.
If you are letting out your property as fully furnished, make sure the furniture is safe, clean and in good condition. If it looks a little worn from previous tenants’ use, this will stand out to prospective tenants and they may question the quality of other aspects of the let. Get rid of anything which is a little sorry-looking and replace it with newer and more modern items. You don’t have to spend a lot but it is important that items are fit for purpose.
Create a homely environment and hopefully, tenants will look after it and want to renew the tenancy. If you do everything on the cheap, you may struggle to let the property.
- Update Practical Areas
Rooms like the kitchen and bathroom are rooms that your potential tenants might pay particular attention to. These areas are meant to be used and people like to know that they are clean and functional. Make sure the white goods (ie: washer, fridge, freezer, microwave) are in good working order.
To keep things looking smart, make sure cupboard doors function and are hung correctly. You could replace old carpets with some hard-wearing flooring. Create the impression that you care about your property. Avoid surfaces such as expensive marble for worktops which can easily be stained and damaged. Don’t go for the cheapest items either. Cheap things look cheap which nobody wants in their home.
When it comes to the bathroom, make sure it is clean as a top priority. If need be, upgrade any fixtures and fittings and make sure the shower, toilet and sink work/drain properly. Make sure edges are well sealed to prevent future water damage.
Small design updates could be a little extra that gives your property additional appeal. Your letting agent might be able to tell you which extras people like to see above all others. This will put you a step ahead of the competition
Are You About To Purchase A Rental Property?
- Think Long Term
A decent, well known branded boiler with a seven-year or more manufacturer’s warranty is well worth the lay-out. Whilst there are cheaper boilers available, once they are out of the initial 12-month warranty they will start costing you a lot more to maintain.
- Get Landlord Insurance
Landlord insurance protects you against damages to your asset. Most property owners only have building insurance as it’s mandatory but landlord insurance goes further than this and depending on the package you choose, it can include liability insurance, fixtures and fittings insurance, cover for loss of rent, contents, alternative accommodation insurance, landlord legal expenses and more. Many homeowners are unaware as to how damages can be less costly by taking out this type of insurance.
Buy To Let Conveyancing
Buy-to-let conveyancing is the legal process of transferring ownership of an investment property. If you are buying a property to let, you will need to instruct a buy to let solicitors who will conduct the legal side of the purchase. Start by looking into buy to let conveyancing costs as soon as possible – fees vary between conveyancing solicitors. Find a conveyancer.
Buy to let conveyancing fees depend on a number of factors such as the location of the property and the complexity of the transaction. Typically, buy to let conveyancing costs between £850-£1,500. On top of this there are the additional costs of searches, taxes, stamp duty and other admin fees.
If you are using a mortgage to purchase your investment property you will need to arrange this yourself. Buy to let solicitors will request a copy of your mortgage offer from your lender and go through the terms and conditions, highlighting anything you need to be aware of. Find a conveyancer
Find A Conveyancer
As an investor you can quickly compare competitive buy to let solicitors and their fees online with our Conveyancing quote calculator. It will save you both time and money. Each quote fully details the Solicitor’s fees and disbursements.
You can even filter by mortgage lender as we know that some stipulate that you must use a conveyancer that has been approved by them. Conveyancing is a complicated legal process. Read more about it prior to applying for a buy-to-let mortgage.Find a conveyancer