You can increase the value of your investment by renovating the property you’ll be letting to tenants.
Nevertheless, landlords, and especially new landlords, often make easily avoidable mistakes.
Don’t worry, we got you covered. Follow these tips when renovating your real estate assets and make your rental properties attractive to potential tenants
Tips for property renewals
The Dulux store has a wide array of colour mattes, from modern whites and magnolias to classic whites and blacks. You would probably see a lot less variety of colours and a lot more creams and whites if all homes in the UK were rented. Two-thirds of UK homes are privately owned. The homes with colourful paints best suit your individual tastes.
Rental homes are a different story. When decorating a rental property, don’t experiment with your styles and tastes. It is not always the same thing what you like and what the majority likes. Moreover, rental properties are often smaller and better suited to whites and creams. They make rooms appear bigger and more spacious.
Do yourself a favour and avoid the colours when you are shopping for paint for a rental property. Go for white and cream instead. If you need water-resistant paint, consider acrylic or eggshell.
Double Glazing for your property windows
Don’t make the mistake of not investing in double glazing if you’ve bought a rundown property with single glazing. Double glazing can seem like a hefty outlay, but a two-bedroom property can be double glazed for upwards of $2,000. No one wants to live in a single-glazed property.
The value of your property will increase by around 10%, so you’ll be able to offset the cost of double-glazing. Furthermore, an energy performance certification will be required before you move in. Double glazing a rental property will make the home look clean and modern. Furthermore, your property will be cosy and energy efficient.
Floors and carpets
Flooring and carpets are major expenses when decorating a rental property. You’ll be replacing expensive carpets and flooring repeatedly if you get this wrong.
In a rental property, laminate flooring is best if you like a cosy carpet in your bathroom. A carpet can become damp if water is splashed repeatedly over the sides of a bath or shower. You should choose good quality laminate flooring for both the kitchen and the hallway.
Even though laminate flooring looks clean and fresh, it’s not entirely suitable for UK homes because it can get cold. It would be a good idea for your tenant to invest in a pair of slippers to protect their feet from the cold laminate. However, the carpet will enhance the appeal and cosiness of the property. Choosing a good quality underlay with a less expensive dark-coloured carpet is the best choice for carpeted rooms such as the lounge and bedrooms.
Shelves and paintings
If you want to add some shelves and a painting to the walls, that’s up to you. The pictures should be of a neutral and modern style. Make the property look a little more homely by adding pictures. It also allows your tenant to add their own choice of paintings and remove yours if they choose to.
As a result, you’ll already have some holes professionally drilled. By drilling holes in your walls, your tenants will be less likely to ruin them (and possibly electrocute themselves).
Curtains and blinds
In a rental property, curtains or blinds are not mandatory, but they will make it easier to rent. Especially if tenants have only signed a six-month lease, fitting can be a hassle. Instead of fitted pelmets, curtain poles and hand curtains are the cheapest options on the market. Ikea offers inexpensive curtains and poles that will complete a property. Moreover, It’s easy to take these down to wash or replace when the tenancy is over and you’ll have to list your property again.
Keep lavish, expensive fittings, decorations, and furniture for your own home based on your taste and style. It is also important to stick to a budget when renovating and furnishing a rental property. Try to stay within your budget while adding as much value to your investment as possible.