How to retain value to your rental property

Although rented homes remain in demand, it’s always wise to ensure your property stands out and appeals to prospective tenants. When a tenant views what they may believe to be their perfect home, they’re less likely to try and haggle over the rent. If you have a void period coming up soon, this can be the perfect time to give the property a little spruce up.

Decorating

When a prospective tenant walks around your property we want them to envisage themselves living there. However, if there’s bold and outdated wallpaper on the walls they could find it off-putting. So, if you do decide to decorate, keep the paint colours neutral – tenants can add personality to their home with the use of accessories such as cushions, vases and trinkets.

You could consider letting the tenant know which paint colour you’ve used – after all, if they do accidentally mark the wall, it’s be a lot easier for them to put it right whilst they’re still living without needing to negotiate the repairs at the end of the tenancy. If you need to replace the carpets, why not choose something which is a bit more hard-wearing, particularly in areas where there is high traffic, such as hallways and staircases. Wooden floors, tiles, linoleum and laminate are typically easier to keep clean than carpets.

Furniture

If you offer your property fully-furnished, replacing a tired sofa or buying a new dining table could give the home a whole new look.  Auctions often sell surplus stock of large items of furniture which are being sold off for a bargain. Plus, you can often bid online and so you won’t even need to turn up for the auction itself.

Spring Clean

Appointing a professional cleaner to do a deep clean within the property can be a great investment. Giving the kitchen and bathrooms a deep clean can make the rooms look – and smell – brand new. Plus, when a tenant comes to view a property which is spick-and-span, you really are setting the expectation for how you expect the property to be returned at the end of the tenancy.

Outside spaces

Just because it’s a rented home, doesn’t mean that kerb appeal doesn’t count. Asking a gardener to prune the front hedges, and perhaps arranging for a handyman to put a fresh lick of paint on the front door can work wonders with first impressions. We all want house-proud tenants. If the tenant respects your property, it makes it so much easier when it’s time for them to check-out and move on.

Plus, don’t forget that the cost of all these items can be offset against the profits you’ve earned throughout the tax year.