Personalising your Rental Space: Succeeding as a Buy-to-let Landlord

   While there is reason to believe that the buy-to-let market in the UK is no longer as profitable as it once was, the average rental yields are still high enough in some regions to deliver a profitable investment. The market is becoming increasingly competitive, however, and the subsequent saturation of the UK with rental homes has made it harder for landlords to lease their properties. Intelligent landlords have looked to adapt with the market, however, by developing creative ways of appealing to tenants in addition to changing rental prices.

Personalising your Rental Space

Creating a Personalised Rental Space

One of the key frustrations for all tenants is that while they are paying a monthly premium for their homes, they are often prohibited from personalising the interior living space. This is why overly zealous or rigid landlords are likely to lose out in the current market, as tenants have more choice and influence given the ever-expanding number of available homes. Instead, it is landlords with a flexible approach that will benefit from increased demand for their properties, especially if they create more malleable spaces that can be tailored to suit each individual tenant.

Not only will this increase demand and reduce the stress felt by tenants who wish to modify their living space, but it will also save them money once they move in. This can have a highly positive impact on your fortunes, and it can be achieved through the following methods: –

Invest in Free-standing Storage

As a landlord, you are unlikely to invest in fixed furnishings as they contribute to a rigid and inflexible layout. You may also be required to drill holes in your wall, which can damage the integrity of the structure over time. Instead, you should invest in free-standing storage solutions that can be easily moved around the home, especially in typically compact spaces such as the bathroom or kitchen.

Evolve beyond Magnolia Walls

While the idea of a neutral living space remains popular among tenants, the interpretation of this has changed with modern trends. White and pastel shades are far more appealing to tenants in modern times, primarily as they breathe life into the space and offer more options in terms of decorating and embellishing the interior of the property. The infusion of subtle shades and tones also adds a greater sense of personality to the property, making it stand out in a competitive market.

Purchase Multipurpose Furniture

From storage beds to multipurpose chairs and tables, there is a strong trend for multi-functionality in 2015. This helps to optimise the space in new-build homes, while also offering residents the opportunity to create a flexible layout that be changed as their needs evolve. This ethos can be carried out from the kitchen to the bedroom, while providing the option of functional and invisible storage options will enable tenants to put their stamp on the property in a non-intrusive way.

Remodelling your Home for sale: What Type of Fireplace should you install in a Family Home?

   Since the great recession of 2007, the global property market has struggled to achieve the type of consistent growth that preceded the financial crash. This has finally begun to change in the last 18 months, however, as the global economy has stabilised and triggered a rise in the demand for housing.

The supply of available homes has not risen at the same rate, however, creating a sellers’ market that can drive significant returns for property owners. I chose to sell my house fast recently, although one of the main issues I found was that the property was not particularly attractive to the primary buyer demographic.

Remodelling your Home for sale

What Type of Fireplace should you install in a Family Home?

More specifically, my relatively spacious, three-bedroom home was being targeted by families. While there was a huge amount of initial interest among this demographic, many were put off by the fact that the property lacked a number of child-friendly features and would therefore require additional modification. I decided to tackle this issue, with my first decision being to replace the wood burning fire in my living room. The primary reason for this was the fact was that while this fireplace at a lockable door, the natural flames were difficult to control and could prove a serious hazard to infants if they gained access.

My initial reaction was to install an electric fireplace, as this type of fitting uses synthetic heat rather than large, open flames. In this respect they pose no danger to children and would seem to offer the best option for safety-conscious parents. I was advised that this would be a mistake, however, as the majority of parents like to teach their children to be wary of flames from an early age. The way that they achieve this is to include fireplaces that offer open flames that can be easily controlled, by gradually assuaging the child’s natural instinct to touch.

The Final Word

Ultimately, I decided that the ideal move would be to install a gas fireplace. This provides low-intensity flames that are easy to moderate and control, meaning that they be switched on without posing any genuine threat to a child. They still provide an effective visual representation of flames and generate heat, however, meaning that parents can teach and educate their children in a controlled environment. Along with a handful of additional modifications, this ultimately enabled me to sell my home quickly and for an excellent profit.

How to Increase Your Home’s Value in Weeks

    How much is your home worth?  The answer depends on when you ask the question.  You could greatly enhance the price given a few weeks with a number of home-improvement insights in tow.

Appraisers consider the neighborhood, taxes, and other elements when fixing a price, things usually out of an owner’s complete control.  However, a number of  do-it-yourself improvements influence the price of a home.

What can you do inexpensively and rather quickly, raising the price of your home?

How to Increase Your Home’s Value in Weeks

Deep Cleaning

We brush our teeth daily, a few times a day.  However, every six months or so, we visit the dentist for a deeper cleaning.  We make a habit of it.  Have you made a habit of giving your interior and exterior a deep cleaning?  Have you considered the difference in appearance?  Consider a smile a few shades whiter; you can do the same with the appearance of your inner and outer home.

Consider:

– Waxing the floors

– Painting the home’s exterior

– Power-washing the sidewalk, driveway, panels, stucco, etc.

– Landscaping the exterior, freeing land of collected debris

Giving your home a deeper clean than regularly scheduled immediately improves the appearance, making a bigger and better impression on appraisers and onlookers.

Change the Details

Survey a given room; what do you see?  You may notice wall color, paintings, light fixtures, window adornments, etc.  Now, take a closer look, minding the details.  What don’t you see?  Better frames around light switches?  Borders around the top and bottom of the walls?

Pay attention to the details of each room, augmenting your home from the inside out.  Consider ordering entrees at upscale restaurants; yes, the quality of food is usually superior, but there’s a stark difference in presentation.  People pay extra money for details and excellence of presentation.  Impress your appraisers by giving better attention to detail throughout each room.

Invite Energy Audits

How much money does your house cost to heat and cool?  The associated costs of bills factors into a home’s value.  For example, investing in a better heating and cooling unit costs initially, yet ongoing, one saves money each month via better insulation and overall performance.

Invite your energy company in your home for an audit, directing your attention toward possible improvements and eventual savings.

Cater to the Kitchen

The kitchen is a hotspot for appraisers; families spend hours in their kitchen; relying on it for food storage and preparation.  Consider investing funds into new appliances and renovating dated kitchen cabinets and counter tops.

Ask an appraiser about suggestions in augmenting your kitchen, getting a better idea of your return on investment.  While spending $5,ooo and a few Saturday afternoons is an investment, one could enhance the price of their home by $15,000 or more.

Unclog the Basement

Every household has a storage center, the place things go to rest, sometimes never to be seen again.  After some time, the buildup grows, and we turn away from the notion of taking that space back.  But, unclogging the basement, the attic, or storage space in the backyard is a part of your home and does influence the overall value.

Have a garage sale, rewarding yourself for finally freeing your home of the mess.  Unearth long-lost items that can serve a purpose to someone else, presenting you with more dollars in your pocket.

Christina Wells spent years as a real estate agent, finding ways to improve the look of a home from the inside and outside. She enjoys writing about home insurance and interior implementations.