Des res: how to make your rental property stand out
In April of this year, it took an average of just 8.9 days for landlords to let a property in the UK – the fastest turnaround since records began in 2013.
Homes in the countryside took 8 days to let, down from 31.9 in 2019, and city centre properties saw a record low of 10.6 days.
Encouraging stuff for landlords. So promising in fact, rental prices have risen as a result of this demand.
But with increased rental costs come increased expectations, and making your property stand out in a busy market can be tough.
Not just that – don’t forget that renting is never a done deal in the same way a house sale is final. The pressure is always on, not only to entice tenants in but to keep them there.
So how do you do it?
Here the team at GD Legal, take a look at some of the key ways you can increase your renting potential.
How to make your rental hot property
Whether you’re new to renting or an experienced landlord, keep the following pointers in mind to boost your property’s appeal and gain an edge on the competition:
· Soft furnishings
Not everyone wants a furnished let but often it’s the favoured option. Be flexible though – if a prospective tenant has some of their own furniture, could you offer to make space by moving some items out of the way? Being open to discussions is always a winner.
Remember too, people take pride in where they live even if it isn’t their own, so furnish with a keen eye for current fashions and trends to make your property as inviting as possible.
· Don’t underestimate the bathroom
All too often bathrooms are neglected in rental accommodation. Yes, they are a functional space but they’re an important one too and can make or break your letting potential.
Chipped tiles, problems with damp or a grotty basin, just won’t cut it. A basic bathroom suite can be picked up relatively cheaply and will be money well spent to boost your property’s appeal.
Whilst it can be difficult to make some properties totally accessible, there are a number of small changes that can still make a big difference to tenants.
Small touches like switching front steps for a ramp, swapping doorknobs for push/pull bars, rearranging furniture to create more floor space and installing handrails in key areas such as the bathroom, can make life easier for everyone but especially for those with mobility issues.
· Fix things
Don’t sit on a problem. If a tenant moves out and leaves issues behind, sort them before re-letting. A fresh coat of emulsion is always a quick and easy way to freshen things up and keep the property looking smart.
· Added extras
Going that little bit further is a sure-fire way to make your property stand out for all the right reasons. So why not offer a few local insights to the area to help tenants to find their feet? The best restaurants and take-aways, local amenities, bus stops and reliable taxi firms etc.
The vast majority of rental properties currently prohibit pets. But this is at odds with the huge surge in popularity for our four-legged friends.
So if you want to broaden your scope of potential tenants, it’s worth considering opening your door to pets.
Landlords can get bad press. Don’t underestimate the power of previous tenants to undermine your success with future lets.
Try to establish a good relationship with tenants. Communicate, act on issues quickly and always stay calm. A reputation as a good landlord is highly desirable to prospective tenants.
Seek expert help with GD Legal
Looking to buy rental property? Need professional advice? Our skilled and experienced team can offer expertise on all manner of conveyancing matters for all types of property – including flats.
So, if you’re keen to explore opportunities with the rental market, why not let us help? With our property solicitors by your side, you’re guaranteed to get your new business venture off to a successful start.