7 Renovation Tips for Successful Property Rental

Renovating beforeletting out your property is crucial! It's your chance to create a durable, attractive living space that tenants will love while minimising pesky maintenance costs.

Imagine fewer headaches and happier tenants - it's a win-win! Let's explore these top renovation tips and transform your rental property into a potential goldmine.

1. Plan and Schedule Your Renovation

Effective project management is key to a smooth and cost-effective renovation! Start with a solid plan: outline what needs to be done, source all tools and materials in advance, and schedule the work meticulously. Remember, time is money - minimise the period your property sits vacant.

Speaking of which, ensure your property insurance covers unoccupied periods. Policies often lapse after 30 days of vacancy, so checking and updating yours is crucial. Don't forget to apply for a council tax exemption if the property will be vacant and unfurnished during the renovation. This can save you a tidy sum you could redirect towards your renovation costs!

2. Invest in Durable Flooring and Finishes

We, as experienced lettings agents, have seen it all and we recommend investing in durable flooring and finishes is pure gold for landlords. High-quality flooring, such as thick carpets, sturdy laminate, and resilient tiles, can withstand the wear and tear of tenant life.

Tiles, especially in moisture-prone areas like bathrooms and kitchens, are a game-changer - they're easy to clean, mould-resistant, and incredibly long-lasting, making maintenance a breeze. Avoid the temptation of light paints and carpets, which may look fresh initially but quickly show dirt and wear. Instead, opt for mid-toned browns and greys - they hide stains well and maintain a polished look longer. Spending more upfront on durable materials means less hassle and fewer costly renovations. This strategy ensures your property remains attractive and low maintenance for years!

3. Prevent Mould and Seal Gaps

Mould prevention is a game-changer! Mould poses serious health risks and wreaks havoc on your property, leading to costly repairs. You want to nip this in the bud.

Mould-Proofing Tips:

• Ventilation: Ensure bathrooms and kitchens are well-ventilated. Install extractor fans if necessary.
• Anti-Mould Paint: Use anti-mould paint in high-moisture areas. It's a lifesaver!
• Dehumidifiers: Place dehumidifiers in damp-prone rooms to keep moisture at bay.

Sealing Gaps:

• Mastic/Filler: Seal gaps around windows, sinks, baths, and showers. This prevents leaks and keeps out creepy crawlies.
• Anti-Mould Sealant: Opt for anti-mould mastic/filler to double down on protection.

These steps are pure gold for maintaining a healthy, durable rental property. Implement them, and you'll save a ton on future repairs while keeping your tenants happy and healthy!

4. Choose Practical and Neutral Decor

Neutral décor is your secret weapon! It appeals to many tenants, making your property more attractive and versatile.

Why Neutral?

• Broad Appeal: Neutral colours like greys, whites, and beiges create a blank canvas, allowing tenants to envision their own style.
• Easy Maintenance: Mid-tone shades hide wear and tear better than light colours, saving you on frequent repaints.

Avoid Personal Tastes

• Keep It Simple: Resist the urge to add personal touches. Remember, you won’t be living there!
• Practical Choices: Opt for durable, low-maintenance materials that withstand daily use.

Tailor to Your Potential Prospect

• Know Your Market: If you target families, think practical and child-friendly. For young professionals, opt for sleek and modern.
• Budget Smartly: Don’t overspend on high-end finishes for low-rent properties.

This approach ensures maximum tenant appeal and long-lasting style, boosting your rental income effortlessly!

5. Use Quality Fixtures and Appliances

Good, solid taps and fixtures last forever and save you from frequent replacements. Don't overlook extended warranties for appliances - they're a landlord's best friend, offering peace of mind and protecting your investment.

Pro Tip: When buying renovation materials, always purchase a little extra. Having spare tiles and paint ensures easy touch-ups and consistency. Trust experienced property managers, these tips will save you time, money, and headaches. This is pure gold for a smooth, profitable rental experience!

6. Budget Wisely and Track Expenses Thoroughly

Budgeting for renovations is crucial! Start by meticulously planning your expenses.

Here's a golden tip: use cashback credit cards for all your purchases - you'll earn money back on every penny spent. It's a win-win! And don't forget to keep every single receipt. These can be offset against your tax bill, saving you a bundle. Being organised and strategic with your budget turns renovation chaos into a smooth, profitable venture.

7. Hire Professionals When Needed

Don’t cut corners- hire professionals for complex tasks! DYI might save you money in the short term, but expert help is worth its weight in gold. For gas and plumbing work, it’s not just smart - it’s the law.

Pro Tip: Always use Gas Safe registered engineers.

When it comes to other services, get multiple quotes. This ensures you get the best value and quality. Compare and choose wisely - you’ll save money and avoid future headaches.

Avoid the hassle and consider hiring an experienced property manager

Following these tips, you can totally take care of all the property management aspects yourself, but why bother? Why wouldn't you hire a professional property management agent who knows exactly how to get the best of your buck? Contact us today, and let's discuss your situation. Let's make your property rental-ready!