Landlords - 10 ways to add value to your rental property

Did you know? 35% of households live in social or private rented accommodation – good news for you as this means there is good demand for rental property. Let’s not forget, that attracting the right demographic and investing in your property will take careful consideration to make sure you get the return you wish for.

So, what 10 simple things could you do to add value to your rental property and appeal to the ideal tenant…

1 – Who is your property best suited to? Student, professional or family for example? Once you know your target market, you can spend your budget accordingly to make the best improvements yet maximise your rental income.

2 – Painting – yes, the easiest and most cost-effective way to instantly make an impact to brighten your property and make it appealing to your prospective tenants. Get rid of that woodchip wallpaper and magnolia paint on the walls! 

3 – Flooring – carpets or tiles? Hard-wearing flooring such as laminate, luxury vinyl or actual wood flooring might be an initial outlay of cost but is very durable. It also gives an instant wow factor and feel to a property.

4 – Of course, the kitchen – the hub of the home – Are your kitchens welcoming? Investment again is the key, even if you might not want to replace cupboards, a change to a modern worktop or painting of kitchen tiles, could be just what the kitchen needs.

5 – Refresh that bathroom! After the kitchen, the bathroom is the next important room in the home that you want to be appealing and clean. That white suite might just be the ticket to your prospective tenant choosing your property to rent.

6 – Before stepping foot inside your property, does it have kerb appeal? Sturdy, clean front door, tended outside spaces and maintained windows will instantly impress and tempt any tenant to step inside to take a further look.

7 – Have the option for every day appliances being provided. This might not be for every future tenant but always a good option to have up your sleeve to offer.

8 – Storage, storage, storage, you really can’t have enough, so think about that built in wardrobe or outside space where bikes might be stored.

9 – Does your property have outside space? Then let’s maximise its potential: weed free, spaces to eat and relax.

10 – Bills – of course affordability will be on every tenant’s mind – let’s help them just a little by thinking about the energy efficiency of your properties. Investing in loft or wall insulation is also a good investment in your property, helping with potential damp areas and with grants available, it’s a win, win for you landlords.

So, landlords, take a moment and think about your property stock and these 10 simple considerations to add value for money for you and happy tenants finding their new homes.