The rental market is bigger than ever, and many people have decided to become a landlord for the first time in the last year or so. This is a great investment, but to begin with it can feel a little daunting as it is all so new. Something that many first-time landlords struggle with is making sure that the house is ready for the rental market – this is different to decorating your own home. Here are a few things to remember…
When it comes to décor, leave your personal taste aside. You want the property to be as neutral as possible. Magnolia of course is a popular choice with landlords, as a neutral and inoffensive colour for walls. Practicality comes above style here and going for hard wearing paints is the best thing to do as you want it to last and be tough for as long as possible.
Flooring is something else to think about – something like this laminate wood flooring at Irwin tiles is a great choice for rental properties, as it is hardwearing and neutral, so will stand the tough treatment and the test of time. A rental property is not the place to lay expensive wool carpets, as if the tenants only stay for 6 months and have a spillage they will then need to be replaced.
You also need to decide whether you are renting out the property as furnished or unfurnished. Bear in mind that tenants will not want to rent a property full of bad quality and tatty old furniture, so you will have to spend a bit initially to furnish the property. However, it could attract you better tenants who will happily pay more to rent it.