Do you intend to rent out your apartment or house? If the answer is yes, then we have some tips for you that will increase its value and appeal.
Making your home rental-ready helps you draw in the tenants faster and it maximises your rental income. We have created a top 6 list that will serve as a guideline to help you make the best out of your property and understand what are the priorities that you need to focus on.
Angela Davey, of ARLA Propertymark said: ‘Letting out your home is a big decision so it’s key that you do your research and consider how best to market your property.
It might seem like a lot to consider, but working through these steps, considering the type of prospective tenant you’re looking for, and seeking help from a professional will ultimately make the process as smooth as possible and ensure that you don’t end up in a vulnerable position.
1. Make sure you can rent out your property
Once you decide to rent out your property your status will change from homeowner to landlord.
According to ARLA Property, this new position carries a lot of responsibility. As some mortgage agreements have clauses that forbid residences from being rented, you must confirm if renting out your property is permitted under your mortgage. If you are unsure, speak to your mortgage lender and they will be able to advise you accordingly.
2. Essential Repairs
Fixing significant issues is essential.
Nobody wants to live in a property in need of repair because of the leaky roofs, blocked gutters, and damaged electrical outlets. Make sure all fixtures are in good shape and replace any broken furnishings.
Make sure your home’s smoke detectors are in good working order and instal fire extinguishers on each floor and in the kitchen. Consider having the heating system serviced, and make sure all the doors and light switches are functional.
3. Compliance Check
Landlords are in charge of making sure that their rental houses adhere to the basic requirements for habitation.
Properties must be in good shape, have a stable structural foundation, adequate ventilation, and be free of major damp issues. A rental property should be fitted with smoke alarms on every floor and carbon monoxide detectors where necessary.
- keep your rented properties safe and free from health hazards
- make sure all gas equipment and electrical equipment is safely installed and maintained
- provide an Energy Performance Certificate for the property
In order for the tenant to be able to use the boiler, alarm system, cooker, and any other white goods securely and easily after moving in, gather the instruction manuals for each of these devices.
4. Furnished or not?
You must determine whether to rent the house furnished or not before putting your property on the market.
An empty property could be more enticing for some; consider whether it would be advisable to offer a property that is not furnished or that it would leave some room for additional furniture. Many tenants might want to bring their own furnishings or create a space personalised to their liking. On the other side your property could be rented faster if the offer includes furniture as they can make an easier transition. If you decide to furnish it, you should also think about how your tenants might use the area. People who want to use a space as a home office will have flexibility thanks to the fact that many people nowadays envisage working from home on a long-term basis. Neutral wall colours will make a property simple to maintain between check-ins and check-outs and will enable tenants to envision themselves living there.
5. Do your research
If you want to know where to price your property you will need to gather some thorough information. Have a look for properties in the area that would match the criteria of your own house. Get professional help and check with your local letting agent. They will help you with further advise and give you an estimation based on previous experience and features of your property. If you choose to go this route, maybe consider enquiring with a few letting experts. This way you will be able to form an opinion grounded in reality and not get enticed by the highest estimation as this would not always by accurate.
6. Keep it tidy
When renting out your property, you should make sure it is tidy and in good condition. Future tenants are more likely to take better care of the property if you turn it over in good shape. Consider getting a deep cleaning done in your home by pros. Professional cleaners will scrub every surface, including the windows, oven, and even the area behind the radiators. Don’t overlook the exterior of the home either, as it frequently serves as the first image a tenant sees while searching online and creates a crucial first impression. If there is a front garden, make the most of it and pay attention to how clean the windows are, the paintwork, and the exterior.
Kings has helped thousands of landlords and has a vast experience gathered in over 60 years of being on the market. Our service includes lettings, rent collection, full property management and is tailored to cover and advice you every step of the way.
If you need to speak to one of our friendly experts, then just contact your local branch for details.
KINGS LETTINGS, 103 HIGH STREET, MAIDENHEAD, BERKSHIRE, SL6 1JX
Lettings and property management offices in London, Reading, Maidenhead, Staines & Windsor.
T: +44 (0)16 2863 2188 | E: MAIDENHEAD@KINGS-LETTINGS.CO.UK
