QUALITY PROPERTY = QUALITY TENANT
One of the most frustrating things we hear on valuations from our prospective new landlord is "It's just a letting property" or “as I’m only letting it…”
It has been proven to us, time and time again, that a property which is in excellent condition will attract an equally excellent tenant.
We believe this is because a property of good standard will attract more interest than one of poor standard and more often than not the landlord will have a choice of tenants. Also, tenants with good jobs and references can afford to be more picky with the properties they choose as the likelihood is they will accepted over other tenants in a not so fortunate position.
A tenant who cannot meet referencing criteria, whether that be due too poor credit, low income or benefit claimants etc will most likely be piped to post on better presented properties and will end up having no choice but to apply for properties or a poorer quality.
Now, what do we mean by a property in excellent condition?
The property must be in a good neutral decorative state (internally and externally), have neutral carpets/flooring, be clean and clutter free and have modern fixtures and fittings in keeping with the type of property.
It must be clear of any damp, have property maintenance kept up to date (e.g. drains and gutters cleared) and have a tidy, near and weed free outside space.
The other big area of consideration is the property being warm with adequate heating (ideally gas centrally heated) and being double glazed. These issues will be even more pertinent on the lead up to the new EPC regulations coming into force in 2018 when it will be illegal to let a property below energy rating E.
Of course, the above points are quite general and we can be much more specific when actually visit a property to advise on the level of work required. There has to be a fine balance between doing enough to the property to attract a good tenant and not spending too much that the return is affected.
If you would like to talk to us about your rental property then please contact 0121 445 7410 or email firstname.lastname@example.org.
Following a no obligation chat, if you decide you would like some upgrade work completing on your property then our Oulsnam Maintenance team can provide you with tailored quotes according to your specific requirements.