With so much attention falling on the UK rental market, there’s never been a better time to freshen up a property investment. Despite the focus on new developments, plenty of buyers seek older homes that tend to have more charm than their modern counterparts.
Yet neglected features aren’t going to cut it with today’s demographics. There’s too much competition to assume that things ‘as they are’ are going to welcome prospective tenants. When buying a house that has seen better days, it’s crucial to bring it up to good standards – otherwise you’ll have a wasted opportunity on your hands.
We’ve come up with several ideas for this refurb to glide smoothly into life:
Perform a paint job
Cracked, flaking paint is a sign of disuse. There’s little worse than stepping through a hallway and seeing a drab aesthetic greet us, tinged with crumbling inconsistencies. It’s well worth hiring a team of decorators – or doing the job yourself – for a new coat of paint. Use it as a chance to diversify colours tastefully; nice contrasts and complements can do a lot for the property’s visual appeal.
Replace guttering, shingles and windows
Every move made for stronger structural elements is going to boost the value of the home. With this in mind, you might turn to drainage systems such as the gutters on the roof, or the stability of current shingle materials. If any damage is present, strip the old features off and fix another set in their place. The same might be also be true of windows, but they can still be replaced for double or triple glazing if there doesn’t appear to be anything wrong with the originals.
Fine-tune electrical/gas units
Conveniences aren’t built to last long without good maintenance. The boiler could be defunct. The electrics may be fickle or inoperable. Furthermore, pipelines can easily splinter with too much cold weather over the time the property has been empty. Check all of these factors when testing the home for occupation. If any fall short, redress them as soon as you can – and remember to cater for low-energy-waste guidelines.
Buy quality, modern furniture
Some of your tenants won’t want a furnished space, of course. Yet the majority do, and the power of your offer is enhanced with stylish, affordable pieces that nurture a personality throughout every room. Look for a furnishing partner who can offer value for money, as well as creative guidance. And it’s vital to clean the carpets (or re-carpet entirely) before anything is installed, just so the whole property feels and smells better.
With our tips at the forefront of your mind, that new rental investment can shrug off its old problems and become a fantastic portfolio addition. Summermere is then able to market it to the right people, with the right quality of care, to the North West market. Call us to see how we work with landlords across Prestwich, Bury and Manchester city centre.