Investing in a rental property is, of course, never cheap – but inexpensive improvements can increase its appeal to tenants and help maximise your rental return. If you’re handy, you can even make the changes yourself…
- A new coat of paint is the simplest improvement and can make all the difference to the appearance of your property. Stick to neutral tones but don’t necessarily go for magnolia: you can’t go wrong with greys and off-whites at the moment.
- Spruce up kitchen & bathroom units – again, paint is a relatively inexpensive way of making units look clean and modern again. Do it properly though… remove doors and drawers and give them a good clean to remove ingrained grease and dirt, before sanding and priming first. White’s always a good colour, but shades of grey and blue are also popular.
- Check ventilation Are extractor fans clean and working? Get rid of kitchen grease, and fluff in bathroom vents. Consider upgrading ineffective systems…a small cost to change to a more efficient system will reduce the chance of condensation causing damp and keep your tenants happy.
- Add extra storage, especially if space is tight. Alcoves, or space above a chest of drawers in a furnished property, are good spots for shelves. Can you build cupboards into an under-stairs gap? What about a bike store or garden shed? Many tenants in York own bikes so outside storage space is vital.
- Replacing tired door handles and taps needn’t cost much and adds style and character to rooms. Enjoy picking some snazzy handles and even if you don’t replace taps, clean them well, remove all limescale and fix any drips because there’s nothing more off-putting than a grubby, leaking tap.
- Lighting makes a huge difference to any room. It can cost next to nothing to replace tired lampshades – charity shops often have a great selection. Think about light bulb brightness, too: bright white works well in kitchens and any study; soft lights for bedroom and living areas and warm white for the bathroom and living or dining room. Low energy bulbs throughout will improve your EPC rating.
- Add a chalkboard to the kitchen. You can buy chalkboard paint and make a feature of part of the wall, for an instant update.
- Don’t forget the floors! Changing the carpet can totally transform a room. The right neutral carpet will last for years. Painted floorboards are always popular.
- Curtains and blinds set a room off – or drag it down. Replace faded or tatty curtains and broken blinds; the result will make your outlay worthwhile. It is best to keep blinds for reception rooms and curtains for bedrooms. Lined curtains keep light out and heat in. A few bright cushions will also lift a furnished room.
- The front door can do wonders for your kerb appeal. Give it a lick of paint, replace door numbers and consider some colourful pots for the doorstep.
Want to discuss the investment potential of a property you have your eye on? Looking for a contractor to carry out some improvements?
Our experienced lettings team will be happy to give advice.
Contact us for a no-obligation chat.