How can you keep costs down and maximize the appeal of your rental property? Here are some key points to bear in mind.
Repainting grubby walls and chipped woodwork after every tenant can be costly and inconvenient. As the Evening Standard advises, use hard-wearing washable paint in a neutral shade such as beige or magnolia. Keep a spare tin on hand for touch-ups, and use the same colour in every room.
Depending on the property, you may choose to use a low-cost carpet in bedrooms and reception rooms. Hard-wearing carpet in mid-brown with pale flecks will hide minor stains and clean well; alternatively, stick to washable flooring. Vinyl flooring bought on a roll is inexpensive; however, it can be torn and damaged by furniture and white goods. Laminate is another inexpensive choice but needs to be kept dry. For a long-lasting, tenant-proof choice, particularly in high traffic areas such as hallways, luxury vinyl tile is the most durable choice. To keep your initial cost down, look for end of range packs in neutral tones.
Fixtures and fittings
Whether you rent your property furnished, unfurnished or somewhere in between will depend on the duration of the letting and the type of tenants you want to attract. A family looking for a long-term let may already have all the furniture they need and be attracted to an unfurnished property, whereas a single professional moving to a new area for a work contract may be more interested in a fully-furnished property for a short-term let. In either case, property inventory software can help you to keep track.
As tenants come and go, you will want to keep on top of any changes to the condition of your property to ensure that any damage is correctly charged to the tenants and that wear and tear is tackled to keep your property looking smart and appealing. Investing in property inventory software is the simplest way to do this. Specialists such as Inventory Base provide the latest property inventory software, enabling you to keep track of the condition of your rental quickly and easily.
By giving thought to your décor before your first tenants move in, you can save money and effort and keep your property clean and smart for years to come.