5 April 2012

“Being a landlord in 2012 is a privileged position; demand is high and interest rates are at their lowest levels for several years. In addition, the numbers of people who are renting, and renting for longer is increasing. With any additional income secured in this ‘haven’ period, landlords should be looking at effective ways to reinvest in their current properties, to manage their assets and increase their returns."

“Investment in bathrooms, kitchens, efficient heating systems and broadband internet will not only help landlords to increase their rental yields, but such improvements can also greatly increase a property’s desirability.” 

Top tips for landlords


Energy efficiency


There is speculation that the Secretary of State, Chris Huhne, is looking to impose larger council tax bills on homes that are not correctly insulated. With this in mind, landlords should look at the energy efficiency of their properties and how they can improve it. Money spent on insulation and investing in energy efficient heating systems will not only tick the green and money saving boxes, but ultimately it will make the property more desirable for future tenants looking to keep their ever increasing heating bills down.

 

Internet access


As we continue to be more reliant on the internet in everyday life, offering instant, continuous and fast broadband is a huge selling point for landlords. Installing broadband can often be a lengthy affair, but, having it already installed will not only make your tenant’s lives a lot easier but could also make your property more desirable. Many broadband providers now tailor packages for landlords and the costs can be integrated into the total monthly rental price.

 

Bathrooms and kitchens


Traditionally, an impressive bathroom and kitchen has always been the key to successfully letting a property. Properties with up to date, modern kitchens and clean bathrooms are far more appealing to tenants. Neutral bathroom and kitchen suites are inexpensive and will last far longer than installing the latest fad in home interiors.

If you have enough in the budget - two items we recommend investing in are a decent power shower and a self cleaning oven. These days, tenants are demanding a reliable and hot shower, nobody wants to pay rent for something that is dated.Due to the large quantities of property available to rent, competition for tenants is high.

Likewise, a self cleaning oven will not only act as a desirability magnet for prospective tenants, but it will also ensure that your investment is protected from less-than-house-proud tenants. Investing in both items will, in the long run, be worth their weight in gold and are things that should be pointed out to potential tenants during viewings.

 

Cleanliness


The easiest single thing that any landlord can do to ensure their properties are re-let quickly is ensure that it is professionally cleaned. It is also worthwhile having the carpets and curtains professionally cleaned, in order to get the maximum rent for the property. 

Although all of the above can make your property stand out from the crowd in this competitive market, a property that isn’t clean will put future tenants off far more than an avocado bathroom suite circa 1977! No conscientious landlord will ever be able to clean as thoroughly as the professionals. A professional clean is one of the most effective investments that any landlord can make.
 

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