The rental market is becoming a highly competitive place, whereby properties are competing with each other in order to appeal to tenants. Property portals like Zoopla and Rightmove make it both easier and trickier to sell your property, both for different reasons. Portals like these provide those looking for properties with an easy way of searching for what they want due to the ability to change filters, but sometimes these sites can work against you as your property is so easily compared to others. For this reason, you need to ensure that your rental property stands out and appeals to your target tenant perfectly.
After establishing your target market, you need to make sure you entice your potential tenants to your property and show them why they should choose yours over someone else’s. There are some quick, easy and cost-effective ways to boost the appeal of your home; it just takes a little thought and effort to get your property looking the best it can. Once you are happy with the work you have completed, you will be able to charge higher monthly rents as your property will ultimately be more modern and more desirable for future tenants. Eventually, you will recoup the cost of any renovations you have undertaken as well as improving the value of your property in the long run.
Performing renovation work is not only great for you as a landlord or an investor to create a more contemporary and up to date home, but the growth in capital appreciation is also an important factor if you wish to boost your return on investment. There are a multitude of ways that can help you improve your capital appreciation as the value of assets can increase for several reasons. Firstly, purchase a home nearby a regeneration scheme as regeneration can lift up house prices dramatically and secondly, if you purchase off plan properties that are significantly below market value they will increase in value over the forthcoming years, making it a worthy investment with solid, prosperous returns. Properties next to regeneration areas are common throughout many UK property investment companies like RW Invest as these tend to be the most attractive locations to lure investors due to lower entry prices and great potential for price growth. This is a fantastic way to make your rental property stand out from the rest.
Make sure your properties exterior is up to the same standard as the inside. There is nothing quite like pulling up to a house with a luscious green garden, cared for paintwork and a well-kept driveway. Just like the inside of your home, the outside needs some love and attention too. Kerb appeal refers to how attractive your property looks as you drive up to it and view it from the road. Increasing the kerb appeal will help your property stand out from the rest. Spruce up the front lawn, clear out any rubbish, make alterations to any cracks or damage to your properties exterior and tidy up your drive. Improving the kerb appeal of your home will not necessarily increase the value, but it will attract more tenants and may ultimately result in a much faster, seamless sale.