Have you just purchased a property to let? Then you’ll want to maximise its potential before you introduce it to the rental market. As the leading Brentwood & Shenfield rental agent, we know what it takes for a property to be a hit in the area. Here are our five top tips.
Who will be living there?
Before you start to renovate your property, it’s important to think about who will be moving in. If you are going to be living there with your family, it’s perfectly fine to bring your own flair to it. After all it’s your forever home!
However, you need to think more carefully if you are going to rent the property out. Your personal taste may not match those of your tenants, so it’s essential to put yourself in their shoes. Think about the local area, and who you are likely to be renting the property out to. Families? Students? Once you have identified them, then renovate with their needs in mind.
Be as prepared as possible before you start a renovation project, and plan things on a room by room basis. Think about a time frame for each room, which jobs need doing, in which order you’d like them to be completed and so on. To put it simply, you just can’t be too organised.
Scout out builders, plumbers, electricians, painters and any other tradespeople with plenty of time to spare too. Knowing that everything is in place means that you’ll be able to get started right on schedule.
Set a generous budget
One of the most important things to do when renovating a home is to budget appropriately. It’s always better to overestimate how much things will cost, so that you won’t be caught out further down the line. For example, if you have purchased an older property, it’s a good idea to give yourself a much larger budget than if you had bought a newer home.
Always keep a little extra aside too – so that if something else does come up when your existing budget has already been exhausted, you’ll be able to deal with it without finding yourself out of pocket.
Make a note of everything
Before you begin renovating, get into the habit of making a note of everything – whether it is quotes from tradespeople, checklists of the work you need to undertake, or a running total of the costs so far. Having everything written down will help you when you need to make any decisions or check your progress. It’s also a good idea to have a digital and hard copy of your renovation folder, so that you can access it whenever and wherever you are.
It’s easy to forget to be realistic. During a renovation, things will go wrong and you will experience delays. If these things happen to you, there’s no need to worry. The important thing is to work around those setbacks, not let them overwhelm you.
There’s no such thing as a perfect renovation, and in face some things that seem like problems can actually be beneficial in the long run. For example, you could uncover something dangerous before it has time to escalate, saving you a lot of time and money further down the line. So keep an open mind.
Advertise your property with Keith Ashton
When your renovations are complete and you are ready to look for tenants for your property, we’re here to help. With listings on all four major property portals as well as a network of contacts and our associated Park Lane office, we are ideally placed to bring your property to a wide range of potential tenants. So why not showcase your newly renovated property with Keith Ashton?