Letting/renting your property is such a great way to put your money into something that will definitely give you more back. You can create a regular source of income from your property, and if your property value increases, so does the profit you will be making. It is important to make sure your house is up to a high standard and to make sure any long-term problems are dealt with before introducing tenants.
Safety
Firstly, the most important thing is to make sure the property is as safe as it can possibly be. Checking the building’s structure and seeing if there are things like mould is vital before anyone lives there. Also checking for pests is a good idea. Getting a property ready for renting only to find it has a big rat problem can be a big issue. Make sure you find a well reviewed and good quality pest expert, companies like Empire Pest Control in London are a good example. Its really important to get a good company in so they can deal with the problem properly and prevent it coming back. Be it bed bugs, rodents or something else trying to fix on your own is not likely to work, call in the pros.
Furthermore, it is so important to check all electrical equipment in the house, and any gas equipment too. When your property is finally available to rent, it is important to do regular checks on electric and gas equipment to make sure that your tenants are fully safe and protected.
Decor
Most renters feel they have to put up with a badly decorated house because they have no say in the matter, so make sure your house is as appealing as it can be. Keep it neutral, so your tenants stay for a long time. If your tenant is staying in your house but doesn’t like the look of the house, they are much more likely to be looking for something else in the market sooner.
Flooring
With flooring, for example, it is important to provide a neutral looking floor in the kitchen rather than outdated lino. Floorboards are a good way to go; faux wood floorboards are relatively cheap and also very easy to clean. If you want to put carpet in different areas of your property, for example, the living room, bedroom, etc., again stick with neutral colours so you are accommodating everyone’s taste.
Walls
Keep the wall colour light throughout the house, painting a room a darker colour automatically gives a darker feel to the house. It may be tempting to include a feature wall every now and then because you feel the room is lacking something, but let your tenants make the home theirs by putting their own touch to a room through their own furniture or pictures, etc.
Kitchen
Making sure your kitchen is up to date and in perfect working condition will save you so much time and money for the future. Appliances that are older and extremely used are more likely to start causing problems, so it is worth paying that little bit extra now to keep them for years to come and know that they work perfectly.
Bedrooms
If your rental property is fully/partly furnished, it is important to provide your tenants with a good quality bed. There will be fewer problems or complaints in the future. It may seem easy to buy the cheapest mattress going, but if it isn’t a good quality mattress, it will start to wear really easily, and it may be really uncomfortable. A sturdy bed frame is vital too; some cheap beds aren’t the greatest quality and could break quite easily, so invest in a good quality bed.
At the start of your renting journey, it may feel like you are spending unnecessary money because you aren’t living there yourself, but the more care you put into the property, the more money you will get back from it.