The outlook for landlords is looking good over the next twelve months. With increasing demand for rental properties expected this year, landlords should have no problem charging higher rents and getting more out of their investments.
A recent survey released by buy-to-let lender Paragon showed that over 50% of landlords quizzed expected tenant demand to increase over the next year, pushing up rents and putting more money into their pockets. While some landlords may look to grow their investment portfolios, there’s an equal temptation to invest in their current properties to attract better tenants. What follows are a number of effective tips for landlords to enhance their rental properties.
One of the biggest attractions for any home is energy efficiency, and so this is something that all landlords should look to improve if they want to better market their homes.
Energy efficiency can come in all forms when it comes to a property. One area where you should apply your focus is in the kitchen, after all, it is loaded with all sorts of different appliances. Moreover, these appliances suck electricity—even when not in use! The problem most landlords encounter is inefficient appliances that are consequently consuming more energy then their modern, more efficient counterparts. This is largely due to a failure to perform preventative maintenance and repairs. More information on this can be found at PartSelect . Otherwise, you will simply need to purchase new appliances, preferably boasting the Energy Star logo.
By spending money on energy-efficient heating systems and insulation, landlords can tick all the green boxes and help their tenants save money. The benefit of this, of course, is that landlords can use this to market their properties, ensuring they get more desirable tenants.
Another big selling point for landlords is a fast and reliable broadband service. Nowadays, the internet is vital for almost everyone, and so a lightning-fast broadband connection will surely help to get attention.
There are a number of broadband packages tailored specifically towards landlords these days, and the costs of these can be integrated into the rent.
Modern Bathrooms & Kitchens
Clean, modern and up to date bathrooms and kitchens offer instant appeal to prospective tenants. These days, a bathtub simply isn’t enough – most people will demand a hot shower for convenience, and so a decent power-shower is a must for any self-respecting landlord.
Likewise, the kitchen should also stand out. Landlords should invest in high quality kitchen furnishings (an excellent way to appeal to female tenants in particular), such as a self-cleaning oven, a washing machine and dryer, and a large fridge/freezer.
This should go without saying, but professional cleaning is essential if a landlord wants to re-let a property as fast as they can.
Clean the carpets and the curtains, touch up the paintwork, have the windows cleaned – all this will make a vast difference to the quality of tenant landlords can attract.