If you own a property that you are letting out to tenants, you might think the idea of a renovation is a nightmare. After all, the whole purpose of letting out a property is to make money, not spend excessive amounts of it, right? Well, there are certain ways you can cut costs by renovating your property for tenants in a cost-effective but high-quality way. This is slightly more complex than renovating your own home, but don’t worry - read on and you’ll find out exactly how to complete a renovation for a property to let. Let’s get straight to it!
Neutral Decor Is The Way Forward
When you are decorating your own home, the focus on decor is important. You want everything to be exactly your taste because let’s face it, you’re going to have to wake up to it every morning. For your rental property, however, this isn’t necessary. Not only is decorating the place to suit your taste more expensive, but it is also counterintuitive; the tenants you rent out to might have opposing tastes to you, therefore making it hard to find tenants in the first place!
Neutral decor doesn’t mean making no effort; your tenants deserve a comfortable, well-furnished home. It just means going easy on the color scheme and not filling your property with expensive pieces that will run up your bills and have little impact on your profits.
Ensure The Place Is Simple and Practical
Giving your tenants a practical home to live in benefits both you and them. Why? For you as the landlord, the practicality - easy to clean floors, simple design, and no complex fixtures which can be broken or ruined - means that if something is broken it can be easily fixed. On top of that, making the place easy to clean and run will ensure that the tenants are less likely to break things or ruin furnishings in the first place.
One simple way to ensure the place is practical and easy to clean is through leather furnishings such as a couch. A leather or suede couch can be wiped off if there are spillages and does not stain, unlike fabric upholstery. Similarly, laminate or wood flooring cleans easily and doesn’t look dirty with age. If you are looking for these furnishings for your property, search laminate flooring near me to get started.
Wait Until The End of The Current Tenancy
If you have tenants whose contract is up soon, pick this time to complete the renovation. When they move out after their tenancy ends, you can keep the place empty for a few weeks and complete a fast renovation. Attempting to renovate the place while tenants live there can be disruptive to their lives and cause problems with your contract; if the tenants have issues with the ongoing renovations, they could demand early exit or money off rent. That’s why it is better to lose out on a month’s rent and renovate when the property is empty, to avoid these issues.
In conclusion, renovating a house you are renting out doesn’t have to cause stress. Use these three steps for a quick and simple hassle-free renovation project.
