Renovating Letting Properties and tips for landlords
Renovating and decorating a property you are letting can be difficult as you need to make sure it is not going to repel tenants as well as ensuring that the property, its contents and décor are long lasting and durable enough. The main concerns for Wirral letting agents when it comes to decorating is being aware of your budget and planning your time accordingly so that you are not spending too much time wasted, as time is money.
First decide what you want to do with the property and what needs doing. Create a realistic and structured plan of what you need to buy, what colours and furniture you want to include and in what order everything needs doing (there is no point moving in a new sofa in when your floor still needs laminating and your walls need painting). If you are renovating in between tenancies then it will be a good idea to start your decorating as soon as the current tenants have left, even before if they give you approval. You may even be able to apply for a landlord council tax exemption if your property will remain unfurnished and empty while you are renovating. Nevertheless, be sure you know what you are going to do before you do it.
Floors and Walls
Many opt for light wall colours and carpets in order to present the feeling of openness and space. It may seem like a very inviting idea and yes, plainness is the best option to go with in buy-to-let properties. However the problem with light colours is that they are not long lasting and will very easily get dirty. Carpets in particular as they have the most physical contact and will easily get mucky – especially when people don’t remove their shoes. Warmer colours such as mid-browns, grey, green, etc. could be a better option for walls and similarly for carpets.
When picking a carpet, the cheap and cheerful type will not last very long and will wear and fade in colour. This can cost you money as you will find that you will need to replace the carpet more often. In order to save money, you should try and go for the thicker and more substantial carpets. They may cost you more money upfront, but you will save money in the long run.
Opting for laminate flooring however is a completely different matter and can occasionally be almost as problematic as carpet. They are mostly durable and long lasting which would be perfect for your property but they can sometimes have defects. When wet or damp, they tend to expand which can obviously cause problems. This is usually due to people cleaning them with a wet mop.
How you decorate
Think about who you are letting to and what they will want. If you have a few bedrooms you may be looking at letting to a family or to multiple students. Especially in the case of students, they are most likely not going to care on how fancy the property is, as long as it is habitable.
When decorating, be sure to keep a neutral and clear mind and remember that you are not the one who will be living in the property. It is easy to get carried away by spotting styles and items that you yourself love, but this can in fact scare away tenants. Tenants will want a basic and neutral property that they can apply their own designs to, therefore try to avoid with extravagance or personal favourites.