Letting any property quickly and efficiently is essential to start earning a return on your investment. Appealing to a wider range of prospective tenants and following a few golden rules will help “sell” a property much quicker. The wider appeal of any home generally means a higher rental price can be achieved. Proximity to local facilities, good schools, mainline stations and major road links will all certainly add value but here are seven things that will help get your property in tip top shape:
1. Safety First
Every Landlord needs to make sure the property is safe for their tenants. You must have a current Landlord Gas Safety check and ensure all electrics are safe. Ponds, stairs, paving, etc also need to be checked to make sure they are safe and in good condition.
2. Clean & Clutter Free
Make sure the property is attractive to potential applicants. Clean and clutter free rooms are essential and it helps if the property is neutrally decorated – although you may love purple walls your prospective tenants might not! Landlords can keep a part of the loft for their own use but tenants need to be made aware of this before they enter into a lease.
3. What you see is what you get
Make sure all fixtures and fittings are of a good standard. It’s important that what a tenant sees a tenant gets. For example if a property is let with a shower then this to needs to be in good working order.
4. Furnished or unfurnished?
Many Landlords ask if they should furnish properties. We usually advise unfurnished but this means you should still provide curtains, carpets and ‘white goods’ such as dishwasher and washing machine etc. If the property is furnished then everything must comply with Fire and Furnishings regulations.
5. Getting covered
Make sure you have a professionally compiled inventory. All deposits are protected by a Tenancy Deposit scheme and any dispute over the apportionment of the deposit can be decided by an Arbitrator free of charge. They will only be able to make a decision based on the written information provided so an inventory, a tenancy agreement and check-in/check-out reports are essential.
6. Get Snappy with a Professional
Ensure your property stands out from the crowd with professional photography. Curb appeal is essential as yours will be one of many being displayed on property websites. Professional shots will give any home an added advantage and if you can “set” the home before a photo-shoot with neutral furnishings it will help give prospective viewers an idea of size and layout. It is also a good idea to have a ‘walk-through’ video so potential tenants can get a really good ‘feel’ for the property.
7. Floor Plans
Although not essential, floor plans really do help sell a home and can save lots of wasted time and effort. Tenants can easily see the layout with dimensions and get a feel for the property before they book any viewing. Floor plan drawings can cost as little as £50.00.
If you would like to know more about letting a property simply pop into our Sevenoaks office for advice. All consultations are free of charge and include a viewing of any potential property, or do look out for our free seminars which are held every quarter. The seminars cover investor and lettings advice including financial information regarding accountancy and tax implications.