While the UK has traditionally been a country that buys houses rather than rents, this picture is quickly changing. It is thought that rented properties now make up about 35% of the housing market in the UK, and this is expected to rise to just over 50% by 2039. This shows just how popular renting is now becoming for UK residents who need an affordable way to get onto the housing ladder. Of course, the growing number of people renting properties to live in has also meant that many UK entrepreneurs are buying homes to rent out as a business.
If you have purchased a house or flat to rent out, the key thing is to get tenants moved in. This will see you begin to recoup some of your initial outlay and start to see a good profit over time. This is not always as easy as it sounds though with strong competition for potential tenants from others in the sector. With this in mind, it is wise to think about how you can make any property you wish to rent out more appealing.
Think about interior design
How the inside of your property looks will play a major part in making it appear amazing enough for tenants to rent. The good news is that there are some great interior design ideas you can use to your advantage. With this in mind, nothing says elegance and luxury quite like a pair of wood shutters. Although wooden shutters are durable and look amazing, they are also great value for money. This means you can instantly transform how your property looks without having to spend a lot. Tenants will also be more likely to rent a property with shutters for the practical benefits they offer, which includes making it more convenient to control how much light comes into the room. Creating a memorable home interior will really help your home reach its maximum potential.
Keep the garden in check
While the inside of your property is key, any garden space you have will also prove vital in attracting tenants. Most people in the UK will be looking for some outside space to relax in and showing yours off can really help. Make sure to keep any grass lawns mowed regularly over spring and summer while also keeping plants in good order all year round. It is also worth making any practical repairs to cracked paving slabs or peeling paintwork to make your outside space more attractive.
Carry out any general DIY jobs
If you have holes in your walls that need filling, dull paintwork, or lightbulbs that do not work, you will be unlikely to convince people to rent your property. To help find tenants, your place must be in good condition and you should carry out essential DIY jobs to achieve this. This will help people to be impressed by it when viewing and more likely to move in. Of course, if any legal essentials such as smoke alarms need sorting out, then this is also a must. If there are any jobs that you do not feel comfortable doing or that require a skilled worker, then make sure to get this booked in and done. A good example of this could be faulty electrics that need rewiring – this is not a job to have a go at yourself!
Make sure the price is right
While there are many factors based around your home’s condition that will have a big impact on your ability to lease any property, the amount you ask for in rent each month will play a huge part. Many people can make the mistake of asking for too much, which can put off a lot of people. While you want to get the maximum return on your investment, make sure you stay realistic. It is a good idea to check what other similar properties in the same area are being rented out for and stick to this fairly closely. If you get this right, then your house or flat will be much more appealing to people.
Appeal to more people with some simple hacks
As the above shows, there are some pretty easy and inexpensive hacks when it comes to appealing to more tenants as a landlord. Of course, one of the best is to simply be polite and welcoming when dealing with people as this will also help lots. If you can combine this with the other points we have looked at, you should find that you have a lot more people interested in renting your property.