Getting The Best Returns Out Of Your Property.
As they say first impressions last and when a prospective tenant, inspects your property you want them to feel like this will be their new home. There are small but practical things you can do to your property, to make sure that vacancy rates stay as low as possible for you. You then have a better chance of having that perfect tenant, that will remain for many years.
Clean the property before showings-
Make sure that the place has had a good clean before any new tenants inspect the property. Any broken or damaged appliances are fixed or replaced, as this fact alone could be the reason they choose a different property over yours.
A fresh coat of paint-
Can make all the difference to a property, it is also one of the most cost-effective ways to take years off the property. Each time you have a tenant move out of your property, you should at least give it a patch paint. Then every 3-5 years, depending on the usage and damage, give it a full coat of paint.
Keep the flooring simple-
Torn and stained carpet or cracked tiles, while may seem like a small thing, can annoy tenants, most people renting do consider the property their home. So when they can see damage around, it makes the property less appealing to them. Make sure you buy durable and long-lasting flooring. While it may cost more initially, it will last much longer and your tenants will be happier.
Blinds and curtains-
They can date and wear out quickly if not well-kept and cleaned regularly, try to avoid light colours as they will get stained easier. Make sure that at the start of the tenancy that they are all clean and in working order. Also, invest in, block out blinds in the bedrooms, tenants will leave a property that they love because they couldn’t get a good night’s sleep.
Lights, lots of lights-
It can be depressing walking into some properties when they don’t have sufficient lights making the property bright. Make sure that all bulbs are in working order from the start and tenants will be able to see the property in a better light.
Power points are another thing, to make sure that there are plenty in each room. With technology becoming ever-increasing, there can now never be too many power points around the place.
While spending money may be hard at the start, you will see the benefits with higher rents. Tenants will also stay in the property longer, meaning fewer fees in re-marketing the property and tenancy applications.
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Until next time as always, do your research before putting pen to paper.
Happy investing and have fun.
Thank you for taking the time to read this post, I would love to hear about your experiences with getting the best returns out of your property.