Wed 18 Dec 2019

If you Want A Quality Tenant, Make Sure your Rental Property is up to Scratch!

by naomi fiddes-baron

There’s common misconception in the property industry that you don’t need to go to as much effort on achieving high standards on a rental property, as you might do with a property you intend to sell. 

In our experience, a property that is in excellent condition will undoubtedly attract an equally excellent tenant.  After all, if you’re asking someone to part with their money each month to help pay off your mortgage, it’s only fair that they ask for good quality living accommodation in return!

At a time when more and more people are choosing to rent property as a long-term option, the market is becoming increasingly competitive with landlords competing to offer the best accommodation.  Price is no longer the deciding factor; people are choosing to pay higher monthly rents in return for higher spec properties.

As a landlord, a good standard property is likely to attract more than one interested prospective tenant so you will be in the brilliant position of being able to choose the one most suitable.

What Do We Mean by ‘Excellent Property Condition’?

There are a number of golden rules we think you should follow, if you want to attract a really great tenant to your property. 

• Make sure it is in a good neutral decorative state both internally and externally.  Modern fixtures and fittings are a must, and if you have one, get rid of an avocado bathroom suite!
• Check for, and keep on top of any damp issues.  It’s crucial that your property maintenance is up to date which includes keeping drains and guttering cleared;
• The outside space is just as important as the inside accommodation.  If your property has a garden, make sure that it is tidy and weed free.  If you present a garden like this, your tenant is far more likely to maintain this when they are living in the property;
• Do any upgrade works like installing double glazing or energy efficient heating systems.  This will pay off in the long run as you’ll likely have happier tenants, and if you do decide to sell, this work is effectively being paid for by the rental income.

Of course, there has to be a fine balance between doing enough to the property to attract a good tenant and not spending too much that your investment return is affected.  If you’re thinking about renting your property and you’d like some expert advice about potential monthly income, or even on the property improvement points before you put it on the market with us, give us a call on 0121 445 7410 or email lettings@oulsnamlettings.net. 

Once you’ve got a great tenant in your property, it’s important to try and keep them that way!  Check out our blog on the top 5 ways to having a happy tenant.