Calling all landlords – how do you improve your buy-to-let property and make it stand out from all the rest on the rental market? Competition is stiff out there, and whilst landlords are not short of tenants looking for somewhere to live, who doesn’t want to offer the most attractive property out there and get a decent amount of money for renting it out?
If you are in the market for sprucing up your buy-to-let, it’s important not to go overboard implementing improvements that won’t reward you financially in the long-run.
Here are a few simple ways that you can add value to your rental property that won’t break the bank.
Spruce up the kitchen
In any property, the kitchen and bathrooms are the money-makers. All other rooms can easily be personalized and styled up in pretty much any way, however kitchens and bathrooms cannot easily be changed. For this reason, you want to offer something that tenants are going to love.
Remodeling an entire kitchen or bathroom may be out of the question, however. Firstly, it’s expensive and secondly, it’s a big and time-consuming project that means you will miss out on time that you could have a tenant in the property paying rent.
The good news is that there are a few easy wins to spruce up these rooms and in particular, the kitchen. If you have wooden kitchen units, give them a lick of paint to give them a new lease of life. White is a great neutral and clean look that is likely to appeal to the masses, or you could take a more stylish approach and go with navy blue, grey or a sage green. These look great when contrasted with light colored worktops, walls and tiling.
You could also consider swapping out the handles on your cupboards. This could not be easier and really transforms the look. Opt for brushed brass, gold or copper for a sophisticated and elevated look that will give an air of luxury to the room. Also make sure that your appliances are up to date, fresh and in good working order. Perhaps you could even install a few mod-cons such as an induction hob or a fancy coffee machine as an enticing extra.
Keep it well-lit
Lighting in your property is really important as it creates an atmosphere. Poor lighting can make a space look really flat, and unwelcoming, and that is the last thing that you want tenants to be feeling when they walk into your property.
Never underestimate the power of natural lighting. There are a lot of links between light and our health, due to the hormones that are released as a result of sunlight exposure. Natural light stimulates Serotonin which lifts our mood. If a tenant can walk into your buy-to-let and immediately feel uplifted, they will surely find it hard to say no.
If you have the opportunity to incorporate large windows, bay windows or even a skylight, this could be well worth doing. If natural lighting is not as easy to come by at your property, just focus on getting your artificial lighting right instead. In kitchens and bathrooms, utilise spot lighting as this will reflect off surfaces and give an upmarket feel. For living areas and bedrooms, opt for warm, soft lighting. Make it a space that will feel cosy and relaxing in the evenings. Harsh lighting can be off putting.
Create your own design features
If you have a property with a bit of character, you may find it easy to maximize a quirky feature to give your property the edge over the competition. For instance, you might have a basement or cellar that you could convert into a games room or second living space, or an outdoor shed that could become a bar. Maybe you have a big bay window that you could add a window seat to?
If your property is a little more basic, create something that you can maximize! Could you install a wine fridge in the kitchen? Could you market your property as a smart home and install some smart security, heating and lighting systems? Just remember to compare landlord insurance policies to make sure you have the right contents cover in place.
Founder & Editor-in-Chief of Pinstripe Magazine. Creative thinker and menswear designer who has been writing articles dedicated to men’s fashion, lifestyle, luxury items, home design, gear, grooming and gadgets since 1998. For info on PinstripeMag, any editorial needs or to contact me please email at marv@pinstripemag.com.
