Are you a landlord with a new rental property? Are you about to decorate? Step away from the colour charts, put down the paintbrush, and read on.
Sometimes, it’s hard to separate your personal taste from your rental. After all, you’ve paid a lot of money for it, and you’ve probably invested time and effort getting it ready for the rental market.
Here’s what to watch out for:
- Getting too creative
Your rental property is NOT your home. You’ll probably never spend more than a few hours there, so keep a level head when it comes to decorating.
Stay away from fancy design features and keep colours neutral. Tenants – especially those who stay for the long term – want to feel like a property is their own. So that duck egg or dark grey you’ve planned for the bedroom might not be the right choice. Similarly, when it comes to flooring, tiles, and kitchen units, it’s best to keep it simple. Appeal to the market, not to yourself.
- Know your market
Ask an estate agent who they think the property will appeal to. That way, you can make a better decision about how to decorate it, as different tenants need different things. For example, families normally stick around for a while, so you’d be best off with neutral colours and no furniture. Whereas student houses require basic furnishings, such as beds and storage.
- Doing it on the cheap
It’s important to invest in long-lasting, durable fixtures and appliances. Filling a rental with cheap appliances and cut-price fittings could come back to haunt you, requiring repairs and replacements much sooner than you’d hope.
- Spending too much
You don’t need to go for top-end products to entice tenants. Spending over and above your budget for top brands and fancy décor isn’t going to add value, it’s just going to eat into your overall profit. Go for reliability instead.
Of course, if you’re buying in a high-end area and trying to get the best possible rent, you may need to splash out a bit. Always talk to an estate agent about what they think will work well.
- Kerb appeal
First impressions make a massive difference, whether at the front or the back of the house. So, don’t forget to spruce up the exterior of a rental property. This is especially important now, as post-lockdown private renters are more likely to want an outside area they can enjoy.