13 Apr 6 ways to upgrade your rental property and attract desirable tenants
As a landlord, the quality of your rental property is crucial to attracting and retaining desirable tenants and maximising on your income potential. In today’s market, it is not enough to simply have a space available for rent; if you’re looking for a good, reliable and respectful, tenant you need to make sure that it’s also a desirable place to live.
13 million people in the UK rent from a private landlord – that equates to 1 in every 5 of us. Here are some relatively easy ways to improve your rental property condition and ensure that you stand out to the more desirable tenant.
If you’re looking for a property to rent or buy in Slough and the surrounding area now, make sure you give the leading estate and lettings agents in Colnbrook a call on 01753 683000or email us and we’ll help you find your next place to call home.
6 ways to upgrade your rental property and attract desirable tenants…
Clean, repair and replace
Make sure that the property is clean and free from any clutter or debris. Repair any damage to the walls, floors, or ceilings, and fix any broken appliances or fixtures. A well-maintained, clean and tidy, property will be more attractive to tenants. A decent quality carpet should last for about 10 years with normal wear and tear, landlords are responsible for replacing worn out flooring so it may be time to review and refresh the carpets if they have been down for a long time. Check out the clearance section of DIY or carpet stores – sometimes an off-cut or a few packs of an end-of-line range of wood/laminate flooring may be just what you need to spruce up a space.
Add a fresh coat of paint
A fresh coat of paint can do wonders for the look and feel of a rental property. If the walls are looking dull or dated, consider repainting them in a neutral colour to give the space a fresh, modern feel. Many neutral coloured paints come in trade discount sizes, enabling you to cover most of the property at a bargain price. This can help attract a wider range of tenants who are looking to put their own stamp on the home with their own furniture and soft furnishings. Having a blank canvas can make your property more appealing for those who are keen to find a space that they can adapt to call their home.
Update the kitchen and bathroom
The kitchen and bathroom are two of the most important rooms in any rental property, a kitchen and bathroom typically lasts 10-15 years. If these rooms are outdated or in need of repair, it can be a major turn-off for potential tenants. Consider updating the cabinets, countertops, and appliances in the kitchen, and replacing any old or damaged fixtures in the bathroom. Check for mould around the shower heads and limescale around the taps, these are fairly reasonable to replace and a glimpse into the bathroom will not put a potential tenant off if your facilities look and feel clean.
Increase storage space
This could be as simple as installing some shelves, adding built-in wardrobes or even adding a small storage unit to the bathroom. By providing more storage options, you can make your property more appealing to tenants who need extra room for their belongings without having to think about moving heavy furniture, such as wardrobes, in and out of your property.
Install energy-efficient features and aim to increase your EPC rating
In today’s eco-conscious world, many renters are looking for properties that are energy-efficient. Consider installing energy-efficient appliances, double-glazed windows, and low-energy-use lighting fixtures. Not only will this make your property more attractive to renters, but it can also save money on energy costs in the long run and increase the energy performance certificate (EPC) rating of your property. Having a more energy efficient home on offer can drive a higher rental ask price, as people are looking to save on the cost of their monthly energy bills by renting a more comfortable home.
Also, as a landlord, be aware of the changes to the EPC rating requirements potentially coming in 2025/28, it is in talks now that all let homes will need to have an EPC rating of ‘C’ or above. Now is a good time to start looking at the EPC rating of your rental property and put plans in place to bring it up to the required rating ahead of the deadline. There is a financial penalty if a rental doesn’t meet the current required rating of ‘E’, this is currently £5,000 per property and may even go up to £30,000 when the new regulations come in. The current requirement is an ‘E’ rating, if you haven’t got a valid EPC you must get one now if you are planning to, or if you are already, letting your property or plan to sell a home.
Create an outdoor space
And finally, if your rental property has access to its own outdoor space, such as a patio or balcony, consider creating a comfortable and inviting outdoor living area. This could include adding some outdoor furniture, planting some plants or flowers, or adding artificial grass. You could go the extra mile and add some solar lighting to create a cosy ambiance. This can help attract tenants who value spending time outdoors by giving them their own little space to enjoy.
By making some simple and affordable upgrades to your rental property, you can make it more attractive to potential tenants and increase its rental value. By investing in your rental property, in return you can attract high-quality tenants who will take care of your property and provide you with a steady stream of rental income.
If you are looking for your next property to rent or buy in Slough or the surrounding areas or you are looking to let or sell your property, we are the leading independent sales and letting agents in Colnbrook and are location experts. You can contact us on 01753 683000 or email us. You can also follow us on Facebook, LinkedIn, and Instagram.