As a landlord in 2021, it’s wise to always be on the lookout for ways to improve your property that can help bring in increased revenues to you and help attract the right tenants.
It is that time of year again after all, sun shining, lambs leaping, and who doesn’t love a 2 hour que in to Woodies, sure think of all the new friends you could make. Anyway, moving on…
These changes can burn a hole in your pocket if we are not wise about ways to improve our properties. There are a number of ways for landlords to make slight improvements to a property without breaking the bank. Let’s look at some basic examples.
Upgrading or Installing central heating should add substantial value to your property and if looking down this route, considering underfloor heating is definitely worth the extra cost. Combine this with fitting the property with double-glazed windows and your BER rating should increase, thereby again helping to attract the right tenants all while increasing your yield.
As we all know energy efficiency is on the rise over the last number of years as people are becoming more and more eco-conscious. Even though we get a lot of rain, there is still a significant amount of energy that we can get from the sun and turn into free electricity at home. Solar panels are a great investment and can certainly help increase the value of your home.
However, while some of the above may be too much of an investment, there are some simple things you can do to your property to make it more desirable to your potential tenant.
Redecorating the bathroom or giving your hallway a fresh look can add a lot of value by modernising and freshening it up. Possibly knocking down internal walls and making your kitchen a living area one big open space can be fresh and appealing.
Let’s not forget your outdoor living space, redoing the garden with a new patio or roofed decking for those summer nights with friends can again increase the potential rental values.
Whatever it is you decide to do please don’t hesitate to contact us here at KPM Group. We would be happy to help in any way we can.