How to Get Your Rental Properties Ready for the Market

With interest rates so low right now, investing in buy to let properties is a great way of making money. If you’ve been snapping up homes left, right and centre with the hope of renting them out afterwards, here’s how you can get them ready for the market this summer…

First and foremost, spend some time and money completing necessary repair work
Not only will this ensure that you fetch the highest rental income possible, it will also prevent damage from worsening while your tenants are renting from you. Stalling on repair work could potentially cost you a lot more in the long run if the property deteriorates, so don’t put off fixing the flat-roof and giving it a fresh coat of roof paint any longer! After all, you wouldn’t want to rent somewhere which has damage to address, would you?  It’s also important to keep appliance repair up to date as they are an important asset.

Decorate with neutral colours

Rental properties are easiest to let out if they’re decorated in a way that caters to a wide range of tastes. The only way you can do this (given that you’re trying to cater for a huge number of people) is to decorate using neutral colours as this will help prospective tenants to imagine themselves living in one of your properties. So, paint the walls in inoffensive, subdued hues (magnolia is a little dated now, whereas white is very fashionable), keep carpets and flooring simple, and choose upholstery that’s easy to live with such as plain curtains and simply-patterned rugs.

Decide whether you’re going to let the property furnished or unfurnished

You can let your rental properties furnished or unfurnished, depending on what suits you best. Furnished properties tend to command a higher rent (because you’re providing essential pieces of furniture), but if you go down that route be prepared to fully kit out a property – something that can be quite expensive! Also, expect that there’ll be some wear and tear on the furniture if you let your rental properties furnished, so account for that in your pricing. Even unfurnished or partially furnished properties tend to be marketed with basic appliances installed such as an oven and a fridge, so make sure yours are functioning, and thoroughly clean.

Make the outside area easily maintainable

Finally, if any of your rental properties have outdoor space, make sure that you only put it on the market once the garden has been tidied up. Get rid of debris, repair boundaries such as fences, and cut the lawn. If you have a lot of garden space or you’re thinking of renting to a younger demographic (such as university students), consider concreting or paving over the grassy areas. This will give renters less gardening to do, making it a more attractive rental option to those who don’t know their way round a flower bed and don’t want to invest in a lawn mower!