For any landlord – whether new to renting or with more experience – it’s always important to generate interest in your property so as to get a tenant in place as soon as possible. It’s important that your property is attractive to potential tenants, however, it’s also important to use a cost effective strategy when carrying out property renovations.
Our team at JLC Property Lettings can offer advice on achieving the best results in property preparation within a set budget.
A common strategy in property renovation is to take a DIY approach, in order to reduce overall costs. If this approach is right for you, the following tips will be useful:
1. Work to a plan – Decide exactly what you are going to take on and achieve before starting work. Keep a close eye on progress and costs. Using a spreadsheet for this is ideal, as it will be able to give you an overview of what renovations are completed, what is yet to be done, and an overview of the sequence of tasks you have decided to follow.
2. Research is Key – When DIY renovating your property, an easy way to make savings is to extensively research the products you want to purchase. Whether you’re looking at decorations, paint, furniture, lighting fixtures or even a new door, have a look online as well as with major retailers to compare prices. Comparing prices will often save you a lot of money, especially with items such as small furniture or decorations, as you can often find these at better prices online. Additionally, antique stores and charity shops can often unearth interesting, affordable pieces that will give your property the edge on the rental market.
3. Don’t Forget Outside – If your property has a garden, our other outdoor space then making sure this is tidy is very important. Simple things like making sure hedges and grass are trimmed, or fencing and patios are clean are very important. It shows the property has been well maintained over time, and potential tenants will assume that the same care has gone into looking after the property on the inside too.
4. Leave the Most Technical Work to the Professionals – It’s always best to leave any structural, electrical, gas and plumbing work to professionals – apart from any minor things like new light fittings. You are going to need to get safety certificates for gas and electricity before letting in any case, so it’s best to get these done properly up front rather than risk having to make last minute changes at time of certification. Taking on a job that really should have been done by professionals is a quick way to ruin the careful budgeting and planning that went into your renovation plans.
If you would like more tips on how to make your property more attractive for your tenants, please get in touch with JLC Property Lettings, we would be happy to help.