If you are decorating a pad that you have bought to rent out, the chances are that you won’t be putting as much time, effort or money into the design of the dwelling as your own humble abode. This is a sound strategy to have. However, if you spend too little, then no one will want to pay the premium rental fees that you are charging. Spend too much, and you risk getting too personally involved and you won’t see any return on the expensive fittings. Take a look at these ideas to help you kit out your rental pad without breaking the bank.
Reduce, Reuse, Recycle
Your own home deserves your full undivided attention. With a rental pad, your personal taste shouldn’t come into the decor, as this makes the property too homely. Tenants, especially young professionals, are looking for a blank canvas and an unfussy interior to call their own. They don’t want clutter and they aren’t bothered about expensive fixtures and fittings. They won’t pay a premium for them.
When you are kitting out a fully furnished pad, look for cheap alternatives to top of the range dining sets, kitchens and bed. Go to your local showrooms, and investigate ex-display kitchen cabinets. Yes, the drawers may have been opened a thousand times or more, but they will still be of sound quality and could be half the price of a brand new equivalent. Reuse items from your own home if you are looking to throw them out. Put that spare fridge that you have into the rental pad. If you have a wardrobe that you are looking to shift, whip out the shabby chic paint and give it a new lease of life before putting it into your rental pad.
Speed
Sometimes, you need to sort out a rental pad in between tenancies at breakneck speed. Whipping out the white paint is easy as is polishing up the floorboards and giving the property a good clean. But what if you need something more specific. Consider heading to Next Day Blinds to select from a range of custom blinds with super fast delivery. If you need a sofa pretty sharpish, go to a thrift shop and drive it away from the site. This is cheaper than a showroom, and saves you from having to wait twelve weeks for a custom made three seater.
Colors
Forget about honing the perfect color scheme for the rental property you have bought. You might love the idea of a damson purple feature wall in the dining room, or a spot of geometric 1960s inspired wallpaper in the living room. Your tenants won’t care. They will prefer white or magnolia walls, the odd picture hook and some new carpets. Don't opt for the deep pile plush variety and go cheap. Once a tenancy has ended, you don’t want to be replacing the carpet if you don’t have to. Do a deep clean instead. If anything does need replacing, a cheap like for like option is the most financially astute option.
A rental pad can help top up your retirement fund. Get the decor right and you could be the owner of a little money-making goldmine.
