It’s generally thought
that most tenants don’t care a great deal about your property, though; this
could mostly be because with the exception of their damage deposit, they have no financial interest in the place.
Maintenance and presentation
are an ongoing commitment and crucially the focus has to be on making your investments
practical and durable. I believe that’s the key, focusing on
durability. It’s understandable that you’d want to avoid renovations in
between every tenancy, in essence the goal is to do touch-ups in between
tenancies and it’s certainly achievable if one is resourceful.
Buy-to-let properties take a beating, it’s the nature of the
beast, and that’s why it’s important to decorate/renovate with that in mind. My
advice is don’t pollute your property with cheap fixtures and fittings for the
sake of making it aesthetically pleasing as it often turns out to be a false
economy as it won’t last the course. Therefore, it’s worth spending that little
extra to get the balance right so that there is some durability, saving you
time and money in the long term.
Here are my top 10 tips for
maintaining your buy-to-let investment
1. Schedule your redecoration
Once your tenants have
given their notice to vacate, make a time to visit the place to see what needs
doing. Get all the materials and sundries ready for when the property is
vacant. If you need assistance, get the painters and decorators booked in
advance, if their half decent, they’ll be in demand.
2. Avoid Mould
This is a common problem in
properties, perhaps an air/ventilation brick would help and most double glazed
windows can also be in a half locked position that allows for ventilation
whilst appearing to be closed.
3. Re seal all bath and sink
surrounds.
Our old friends of mould
and condensation always make an appearance in kitchens and bathrooms over time
if not well ventilated. In this case you get steam making contact with cold
surfaces and over time this is the effect. It can be unsightly and smelly. A
tube of sealant and a gun can be had for as little as £10 and that will make a
dull looking bathroom suite come to life, and of course, create a better
impression to prospective tenants who pay close attention to these areas when
viewing.
4. Use good quality flooring.
The installation of cheap
carpets is often a false economy as these are a subject to the most wear and
tear as it’s a surface that has the greatest contact. They often don’t last the
course and replacing like for like simply makes it repetitive. Use good
quality, hard wearing carpets or a laminate floor where possible as it’s a
practical and attractive finish.
5. Use mid tone colours and
paints.
The Typical flat with the
Magnolia walls can soon look dull and murky, I’d suggest light greys that are
mutual and work well with rooms that afford plenty of natural light.
6. Extend your appliance warranties.
Although most machines
will have either a 1 or two year manufacturers warranty for parts/labour, it’s
worth remembering that commonly reported problems are with washing machines and
boilers as they tend to be in constant use. For the sake of £3-5 per month
which is what they average at, it could save you hundreds in call out charges and
parts over time, or a direct replacement of the appliance is deemed beyond economical
repair. The manufacturer will also give
you the service when it’s needed with no fuss, which your tenants will appreciate.
7. Stock pile paint and floor
tiles.
When it comes to redecorating,
it’s always worth having a surplus; it takes the guess work out getting the colours
to match. In the case of floor tiles, a type or range often goes out of production,
so if one or two crack and need replacing, it’s easily done and saves having to
re lay the whole area again.
8. De personalise the
property
Keep the decor as simple
and neutral as possible and think about what the tenants would like, rather
than what you would as you’re not the one living there. That way they can put
their stamp on it and make it something of their own making it feel like a
home.
9. Keep furniture to a
minimum
Less is more; the problem of
furnishing comes with its fair share of added responsibilities, in terms of
wear and tear, replacements, depreciation and tenants requests for the provision
and removal of certain items. Naturally, there are exceptions depending upon
the applications, be it a short let, students or a HMO.
10. Boiler mainatenace
Boiler issues are commonly
reported in rental properties , and whilst I accept that over time there will
be a steady trickle of costs, ensure the boiler is serviced annually and that there
is always a instructions manual on hand to tenants. There are many companies
that now offer service agreements that include the annual gas safety test.
There are loads of companies offering this service, so shop around for deals.
How Much Is Your Property Worth? Click Here To Find Out For FREE
If you are looking for an agent with experience that can help you find the right tenant for your property, then contact me to find out how we can get the best out of your investment property. Email me on chris@ashmoreresidential.com or give me a call on 020 7435 0420. Pop in for a chat – we are based at Ashmore Residential, Suite 7, 25-27 Heath Street, London, NW3 6TR. There is plenty of parking and the kettle is always on.
If you are looking for an agent with experience that can help you find the right tenant for your property, then contact me to find out how we can get the best out of your investment property. Email me on chris@ashmoreresidential.com or give me a call on 020 7435 0420. Pop in for a chat – we are based at Ashmore Residential, Suite 7, 25-27 Heath Street, London, NW3 6TR. There is plenty of parking and the kettle is always on.
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