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Find your local brokerBecoming a landlord in the UK remains a lucrative business, and when it comes to rental value, setting up shop in the East of England – in an area like East Anglia for instance – is a great option. According to the latest research, properties in the East of England have the third highest average monthly rent in the UK after Greater London and the South East.
Rising rents isn’t the only plus-point of starting or expanding a buy-to-let portfolio. The security that owning property in the UK offers is also well worth noting as estate agent James Anderson details:
“Despite minor fluctuations in house prices, buying property to let is generally considered a safe long-term investment: it provides landlords with a reliable source of income that will last for years to come… people always need somewhere to live, so owning a decent property in a good area will always draw in potential tenants regardless of what state the economy is in.”
These rewards however require you to keep your property tenanted and the people living within happy. Here we share our top tips for landlords looking to spruce up their buy-to-lets, achieve the best possible rental values, and keep their properties occupied for the long haul.
Making sure the property you are looking to let is to a high standard and habitable is one of your key responsibilities as a UK landlord. Improvement works should be tackled before tenants move in, especially if they involve repairing structural damage or other serious defects.
From damp proofing works, central heating installation and double glazing to replacement bathroom/kitchen suites, plastering and flooring upgrades, every improvement counts when transforming a property into someone else’s home.
While your buy-to-let is vacant, it’s also the perfect time to consider improving your EPC rating. The tenants of today are increasingly prioritising energy efficiency during their property search, which makes eco-friendlier homes hot property.
Ensure your property and its facilities are in good working order and up to standard. Your tenant’s quality of life and your buy-to-let’s rentability rely on it!
Simple things like the central heating system, water supply, baths, sinks, showers and toilets being fit for use matter. If you’re letting your property with appliances included, testing their safety and upgrading any amenities that are past their prime could save you a lot of time, hassle and money later down the line as well as keep your tenants satisfied.
After those repair jobs have been completed, it’s time to add the finishing touches that are appreciated by every type of tenant.
Whether you’re preparing your property for a single tenant, a couple or a family, freshening up the décor is a great step in the right direction. If you’re yet to find a tenant to rent out your property, a lick of paint will make your buy-to-let presentable and appealing, giving viewers the blank canvas that lets their imagination run wild.
When decorating a buy-to-let, keep it neutral. Swap brightly coloured schemes and garish looks for light finishes that brighten up the space.
Nothing says “rent me” like a clean, clutter free property. Consider hiring a professional cleaning team to do the job for you, and keep the standard of cleanliness high for would-be tenants. Property let cleans ensure a fresh start, especially if your buy-to-let has been tenanted before.
Those improvements shouldn’t be restricted to inside your buy-to-let property. With first impressions everything, sprucing up the exterior to ensure it’s neat, tidy and attractive is well worth the effort.
Look at the bigger picture to deliver a buy-to-let that ticks all the right boxes for your tenants and is profitable for you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. A typical fee is £295. Ask for a personalised illustration. The Mortgage Bureau is a trading name of A.M. Mortgages (UK) Ltd. Authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some aspects of Buy to Let mortgages.