Advice on Preparing your Property
A well presented property will let more easily and command a higher rent.
Identifying your Prospective Tenant
When choosing the decor, the place to start is with the prospective tenant that you are trying to attract. A one-bedroom flat in a smart city centre development is likely to appeal to a youngish tenant. Such a person will probably prefer clean light modern furniture to heavy antiques and clean white and pastel shades to heavy flock wallpaper and patterned carpets. You should decorate accordingly.
A big Victorian house in a university town is likely to appeal to students. They might be intimidated by white carpets and sofas and may reject such a property for fear of future arguments over damage.
Tenants from overseas, particularly Americans, are famous for demanding power showers and the latest fridges, freezers and washing machines. A good letting agent will be able to give advice on what will appeal to tenants in your local area but the place to start must be to visualise the tenant that you have in mind.
Decorating a Property to Let
In order to appeal to as many prospective tenants as possible, it is usually best to stick to whites and pastel colours. However, when decorating an investment property it is important to decorate with durability in mind. Emulsion is easier to patch up than wallpaper. Patterned carpets show the dirt less than plain ones. Careful choice of decor will help to prevent you becoming embroiled in lengthy arguments about the cost of repairs.
In order to let easily most properties will need a modern kitchen and bathroom. If you are changing a bathroom it is usually best to stick to white sanitary ware in a durable finish. Plastic scratches easily. Enamel is easily damaged by the wrong cleaning materials. Kitchens should be plain and hardwearing. Slate or tiled work tops are much more durable than wood or Formica.
Furnishing a Property to Let
The majority of landlords now offer their properties on an unfurnished basis. There are two reasons for this. The first is that the cost of furnishing a property is often not reflected in the additional rent received . The second is that recent legislation has placed heavy burdens on landlords. For example, all furniture in a rented property now has to comply with modem fire regulations.
However, certain types of property, such as student properties, will not attract a tenant unless they are furnished. A good agent should be able to advise you on whether your property needs to be furnished and the likely rent that it will command on a furnished versus unfurnished basis. However, my advice in most cases would be to offer your property unfurnished if possible. You will however need to provide white goods, i.e. fridges, freezers, washing machines, dishwashers, cookers, etc. These are quite expensive and awkward for tenants to transport and most tenants expect them to be provided. If you are supplying electrical goods you will need to have them safety tested once a year.
For luxury properties different rules apply. Very expensive properties, particularly those in central London , are often offered on a fully furnished basis and command returns that justify this. If you are letting such a property you need the advice of a specialist letting agent.
