Your Checklist for Marketing a Rental Property
When it comes to choosing a buy-to-let house or flat, it’s vital to remember that, above all, a property must be clean, spacious and light when it is offered for rent. In fact, this is my personal mantra.
Don’t be put off by a lack of good lighting or the need for a good scrub when viewing a property as a potential investment. If you can take a property from dark and dingy to light and airy, you’ll likely add to its investment value and rental potential.
The list is not exhaustive but here are a few tips or guidelines for what will add to the sense of spaciousness, cleanliness and light, and attract a high quality tenant.
Balanced Accommodation
What is balanced accommodation? Living and circulation space that is in proportion to the number of people expected to live there (i.e., the number of bedrooms). For example, beware of 3 bedroom properties with only one bathroom or a small galley kitchen in a 4-bedroom place with no clearly defined dining area.
As a rule, avoid properties described as ‘charming’, which is usually estate agent speak for cramped or imbalanced accommodation, but do consider whether a lack of balance could be easily rectified, for example by adding an ensuite.
Uncluttered
Space and light is a strong psychological driver when it comes to choosing a place to live. ‘Home’ should be a place of calm and comfort, and no-one likes to feel overwhelmed by the noise that excess clutter can accost the senses with.
Prior to viewings, have a big clear out of anything that does not enhance the living space. Be strict with yourself and don’t leave anything out that could allow a tenant to form a negative opinion of you or the property.
Clean and Fresh
One thing the pandemic has done is steer prospective tenants away from diverse and experimental colour charts. Fresh white walls and ceilings warmed by stylish accessories and home furnishings are what tenants find subconsciously attractive at the moment. The onus is on sterility as opposed to joyful colour, possibly attributable to the many months we’ve spent wearing masks and avoiding viruses.
Beautifully Maintained
Another hangover from the pandemic, tenants are subconsciously shying away from having to have tradespeople in their house for maintenance or cosmetic work. The property needs to be fresh, clean and completely finished when presented to tenants.
Work From Home Ready
Never before has the requirement for a working from home space been so desirable. Create an attractive area be it in a spare bedroom, study or even in the living room so that a prospective tenant can see him/herself living and working there.
Candles
For years gifts of candles from friends were put into cupboards; I confess that I didn’t appreciate them enough. Now I cannot have enough candles! Light them prior to a viewing to create a visual warmth as well as providing a desirable scent. In the era of self-care and healthy living, candles are literally the modern-day equivalent of a bread-making machine.
Lighting
It is not just teenagers and students that like wall mounted LEDs to enhance a room with its attractive soft lighting. When installing a new kitchen make the effort to install under cabinet LEDs and consider where else they can be discreetly added. Tenants love them as they are stylish, yet not many landlords will go to the expense (which is surprisingly minimal) of installing them.
Well-positioned lighting is a key factor for enhancing any property. Contact Us now to find out how we can assist you with this.
Mirrors
I am a big fan of using mirrors in narrow hallways and internal bathrooms and kitchens which need freshening up. There is an element of bravery to the extent I use them but prospective tenants don’t even realise they are there. They simply see a reflection of themselves and subconsciously connect to that associated space. I have only had positive feedback from using them.
Neighbours
Always visit the property prior to viewings to check that the vicinity is best presented. Remove any overflowing bins or rubbish in communal parts. I would recommend not buying an investment near to students or potentially antisocial neighbours. If a tenant cannot enjoy the comfort of their own home in peace then they will only move on. Vacant properties and reletting costs money, so make sure the property makes a good long-term prospect.
Heating and Hot Water
What type of heating services the property? How old is it? Are all the necessary safety certificates in place (this is a legal requirement)? Tenants want a constant supply of hot water with a bath or shower that offers sufficient pressure.
The goal is by 2025 there will be a government ban on gas boilers being installed in new build homes but we are not entirely sure how this is to be introduced to the market. What about second hand homes? Will financial incentives be offered? Will new electric combi boilers be more expensive to run, longterm, than a gas combi boiler? This will impact tenants and their monthly living expenses.
Insulation
Is the property sufficiently insulated? Tenants want a warm, cost-efficient home. High bills and drafty windows only cause problems. From 2025, there will be a legal obligation for landlords to upgrade the Energy Performance Certification to a minimum C grade, which should reduce tenants’ monthly living expenses. More information will be forthcoming as to what financial assistance landlords will be given to achieve this.
Furnished or Unfurnished?
By furnishing a property one can enhance the accommodation to fulfil its potential and assist the tenant in visualising their life there. This can result in a quicker rental which positively impacts the return on the overall cash investment. However, there is a cost involved with furnishing a property and in this current market where there is recognised scarcity for good quality accommodation, it may not be necessary. I always recommend furnishing a property as I believe it rents out quicker but this is not essential and the rental income is usually the same whether rented out furnished or unfurnished.
Conclusion
There are so many ways a property can be presented to fully enhance its potential. SoProperty is delighted to offer a number of services to assist owner/occupiers with their main or second home refurbishments, or to help those with a BTL property wishing to maximise its earning potential. To discuss how we can help please get in touch today.
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