With buy-to-let landlords facing an ever-increasing squeeze, it would be fair to say that the small costs are starting to matter in the property industry.
One such cost comes in the form of decorating. While most landlords appreciate that over-investing in their properties can prove a false economy, a balancing act must be had. After all, minor cosmetic changes can drive up rents and ultimately cover those smaller costs like landlord insurance, maintenance and letting agent fees.
Through today’s article, we’ll look through five basic decorating tips that can help you preserve or boost your buy-to-let profits.
Table of Contents
Give Tenants A Helping Hand
Historically, landlords were always somewhat against allowing tenants to make decorative changes to properties. However, in the modern-day property world, a little flex can easily boost rents and curb tenant churn.
Let’s not forget that most tenants are craving a way to own their own homes. In the interim, they at least want to feel as though their rented property is their own. By allowing them to decorate as they please, you can accommodate this while insisting that the property is returned to you in the same condition as the day you handed out the keys.
Focus On The Little Things
It’s often said that the devil is in the detail. This is certainly the case when it comes to property. The small things can really make a difference to a tenant’s experience, so it pays to focus on these.
For example, door handles, light switches, plug sockets and skirting boards are all areas that can become worn over time. These are relatively low-cost items to replace, but they can make a big difference to a property’s overall look and feel.
Get The Lighting Right
Lighting is another area where landlords can really make a difference. Many properties have ancient light fittings that are not only an eyesore but can also be quite dangerous.
Not only is it essential to ensure that all light fittings are safe, but you should also take the time to ensure that they are correctly positioned. A well-lit property will always be more attractive to tenants than a dim and dingy one.
Don’t Neglect The Outside
While this article focuses on internal decoration, it would be wrong to completely ignore the outside of a property. After all, this is the first thing that tenants will see when they arrive.
First impressions really do count, so it pays to ensure that the property’s exterior is in good condition. This might mean power washing the brickwork or simply giving the front door a fresh coat of paint.
Keep it Neutral
When decorating, it’s always best to keep things neutral. This is because it will be much easier to find new tenants if they’re not put off by bright and bold colours.
Of course, you should still allow tenants to put their own stamp on the property. However, it’s best to stick to more muted tones if you’re carrying out work yourself.