If you own an investment property, you’ll want to ensure it is in the best possible condition so you can maximise its value when you come to sell it on or let it. There are a number of different ways you can do this and ensure you stand the best chance of attracting interest from potential buyers and tenants. Here are a few important tips to help you achieve this.
Take care of the boiler
It is very important for investors to ensure the boiler, heating and plumbing systems are in good condition. If there are issues with any of these systems, it can deter buyers and prospective tenants, and even lead to legal issues if they potentially pose a health and safety risk. Investing in repairs or replacements will reduce the risk of losing out and help to boost the value of your property.
Improve the kerb appeal
An aesthetically appealing exterior can add a significant amount of value to a property. Even neatening up the garden can provide rewards in terms of the value and the amount of interest you attain. One thing to be particularly careful of is removing invasive plants. Japanese knotweed is particularly undesirable with buyers because it can damage buildings and destroy eco systems.
Make sure the decor is neutral
Although some buyers can see beyond the current decoration choices, many others can’t. It is always best to ensure rooms are decorated in neutral colours and minimise the use of bright shades. This is also advisable for rental properties as most tenants will prefer a blank canvas rather than having to live in a home decorated to their landlord’s tastes.
Air it out
Unpleasant smells can be a huge deterrent to buyers and tenants, whether it is cigarette smoke, pet odours or damp, musty odours. Keep the property smelling clean and fresh by airing it out, cleaning carpets and upholstery between tenancies or before viewings, and redecorating where necessary.
Ensuring your property is well presented is crucial if you want to attract buyers or tenants looking for a home. Investing even a little time and money can really pay off, especially if you have the improvements made to a high standard. Always keep in mind what the buyer or tenant will be seeking and cater to them rather than presenting the property as if it was your own home. As an experienced Redbridge lettings agent, we will always be happy to advise you on matters such as this.