When you rent out a property you have to remember that today there is so much competition out there for tenants. You need to make your rental property stand out from the crowd in order to win a tenant and keep your property earning for you.
Sometimes, the only way to do this is through a little investment. Now, while it may go against the grain to spend out on an empty property, it’s money well-spent if it results in a new tenant rather than an empty property.
Firstly, look at the furniture you have in there. Does it look like a nice place to live in or does it look like a second-hand furniture store? If it’s the latter, there is so much cheap furniture around today that replacing all the furniture in a one or two bedroom flat shouldn’t cost too much and it will vastly improve your prospects of renting it out. Choose basic but robust furniture, as you don’t want to have to replace it too regularly.
While you’re changing the furniture, you should also give the whole property a really thorough clean. If necessary, get professionals in, but this is something that you could save money on by doing yourself. You may also want to put a fresh coat of paint on the walls – choose a neutral shade that would suit any potential tenant.
Check all the fixtures and fittings are in good order. This means having white goods that operate well and in the bathroom, make sure that the shower works well. This is something that potential tenants will often test out when they look around a property. You can get a new electric shower which is cheap to fit and economical to run – another selling point for tenants. Electric showers from specific manufacturers can be retrofitted to existing pipework; just check which side the feeds come into the shower that’s there to reduce the amount of work for installation.
A few days of work and a little expenditure will bring your rental property up to standard and ensure that your property is one of the most attractive to potential tenants when they look at a number of properties in the same price range.