Is your apartment rental-ready?
Peter Greatorex, Managing Director at The Apartment Company, outlines what to consider when letting out an apartment.
I’ve spoken a lot recently about the financial rewards associated with being a landlord in Bath. However, a steady rise in rents over the years has meant tenants’ requirements have changed, now expecting a high standard of living. Therefore, to attract good quality tenants and maximise your rental potential, you need to make sure your portfolio is rental-ready.
Here are my Top 10 Tips…
If building a portfolio, always consider location.
We’re asked at almost every viewing; ‘How fast is the internet?’ followed by; ‘Is Sky available here?’ Take that into account, ensuring good mobile phone reception too.
Make sure the building has a good security set up, as well as the apartment itself.
Tenants require an apartment to be clean, well-maintained and ready to move in. Decorate where necessary and have the property professionally cleaned in between tenancies. Most tenants now expect a professional clean before they move in. A clause in their tenancy then obliges them to pay for one after they leave.
Modern fixtures and fittings are essential. Pay particular attention to the bathroom and kitchen.
Ensure a good central heating system and suitable insulation is in place.
Offer an unfurnished home as most people have furniture already.
Consider allowing pets. You must check your lease first but there is strong demand for pet-friendly homes. Check out our Blog to find out the benefits to you.
Make sure there are residential parking permits available.
Choose a good letting agent to manage the property so tenants feel safe should any problems arise. If you prefer to manage yourself, make sure you always maintain good communication with them.