5 Ways That A Landlord Can Make A Property Desirable.
December 23, 2019 by Staff
Filed under Money/Business, Tech/Internet, Weekly Columns
(Akiit.com) If you own a property that you want to rent out, there are several things that you will be looking for. Firstly, you’ll want a good class of tenant who will look after your property well as long as they are living in it. Secondly, you’d ideally like a long term tenant who will be happy to stay in your property for a long time as it means you’re not needing to find a replacement tenant anytime soon. Thirdly, you’ll want someone that pays their rent on time each month. Then you will no doubt want to be able to maximize your rental income by being able to charge enough rent that you clear a decent profit. You will also want to avoid having any periods where your property is sat empty too, as this is going to lose you money. Well, a property management company helps with retention ideas and more. So do search around your area, and see if that is needed. The end goal for many is to make money.
In order to achieve this, you will have to work hard to ensure the property is as desirable as possible. Here are some tips on how you can achieve this.
Decorate The Property To The Highest Spec
Having the property decorated to the highest possible standard will mean that you can charge more for it and as such, attract a good class of tenants. Pay attention to the small details in the property and ensure it is not just an empty white box that you are letting out.
Include High-Speed Broadband In The Tenancy
If you want to attract a professional class of tenant, having good high-speed internet included in the cost of the tenancy may well entice tenants.
If There Is A Garden, Make It Look Great
Landlords often neglect outdoor spaces and leave them looking rather basic. Having a well maintained landscaped garden will be attractive to the professional tenant who may want somewhere they can relax with their families. Using mulch from Edrich Lumber to create attractive bedding, and having a deck installed will add value here. If DIY happens to fail, one can always hire a company for Deck repair.
If you are concerned about the garden not being looked after, include a clause in the contract about the tenant’s responsibility in maintaining it, or charge more rent and have a gardener visit regularly.
Have Smart Meters Fitted
Energy bills can be one of the biggest expenses when it comes to household bills, and having a smart meter fitted can help to reduce these costs considerably.
A smart meter will help tenants keep an eye on their energy consumption better and as such will save them on their bills.
Act Fast On Issues In The Property
Good tenants will look for good landlords, and for many, an important trait that many tenants will look for in their landlord is the ability to act fast on any maintenance issues in the property. If something needs replacing or repairing, as a landlord you should get this scheduled in straight away and look for contractors who will be able to carry out the work quickly.
Meeting the needs and expectations of your tenants will mean that you will be able to retain them for much longer.
Staff Writer; Bobby Jones