Summer is always a good time to take stock of your properties. Here James Davis, CEO of online letting agent Upad looks at how to increase the appeal of your homes in an increasingly competitive market.
Landlords could be forgiven for looking to the future with some trepidation.
With the fee ban looming and the first tax year since the changes to mortgage interest relief, many landlords could be concerned about the property industry.
There is talk of increasing rents to cover higher tax bills, but landlords must be aware that with a growing rental market, tenants are becoming much more discerning.
If you’re considering increasing the rent on your buy-to-let, you should first consider your property’s kerb appeal.
This will help you achieve higher rents and find the best tenants.
Here are our tips on how to make your buy-to-let more attractive.
- First impressions count: Start with the front door. It’s an easy way to make a statement with a bold and recently painted door, and it will give the wow factor as it’s the first thing potential tenants will see.
- Colour: Try using a colour that will stick in their minds but isn’t too ‘out there’. Red is a classic shade or pastel colours would work well for smaller, cosier properties.
- A new lick of paint: Even if you’re not sold on a bright colour, a fresh lick of paint will make sure it looks smart and well-presented.
- Windows: Windows are the next key feature potential tenants are likely to notice. While you are giving the door a fresh coat, consider doing the same for windows with wood panels- perhaps even matching the colour if you’ve gone for a neutral or pastel shade. For plastic frames, make sure they’re clean, to give a good first impression.
While it can be as easy as a quick clean or a couple of hours painting the front door and windows, some properties need a little extra attention.
If your buy-to-let is looking tired and outdated it can really put off prospective tenants.
A first impression of a run-down exterior may lead renters to think there’s problems with the property or that it hasn’t been modernised with certain utilities.
If you’re struggling with voids, consider the changes you can make to the exterior to make it more appealing.
Whilst it won’t be a major consideration for tenants over the property interior, a well-kept garden will show that extra effort has been made to maintain the entire property.
Even small changes can make a difference.
Add some low-maintenance potted plants to patios to add instant brightness to a dull spot, plus trim any hedges and keep the grass mown.
And finally, just as you would ensure small DIY jobs are carried out inside the property, make sure to do the same outside.
A broken fence or cracked paving won’t give the impression you keep on top of repair jobs so make sure to get these fixed before any viewings.
Tenants will see you’re a responsible landlord that stays on top of repair jobs and takes pride in their property- also setting expectations for how you want your rental home to be looked after.