The rental market in Essex is competitive. Many more people are choosing to rent for longer periods of time and often want to stay in the same property for years. Renting has become a way of life and not just a short-term stopgap.
Therefore, your rental property must remain competitive and attractive to get the best tenants and minimise time standing empty. Here’s how to make your property one of the best houses to rent in Essex so you can attract higher paying tenants and increase the overall value of your home. Some are simple steps to take while the others require a little more investment.
Clean Up and Refresh
You don’t have to spend a lot of time and money on renovations or extensive changes. Just a few adjustments can make all the difference to how tenants see your property. Repaint walls that look a little tired and old. Change your curtains and paint the exterior doors. Using plain and neutral colours help tenants see the property as a blank canvas for their own lives. Add small details such as one vibrantly painted wall in the kitchen, or some bright tiles in the bathroom, to elevate your space into something more desirable than the norm.
Upgrade Your Appliances
Invest in your appliances and fittings to attract tenants that pay more and are willing to stay in your property for longer. You don’t have to put in luxury white goods. But upgrading old and tired items makes a big difference to your property. It will make your house look more modern and when you take care of your tenants’ needs, they are more likely to treat you and your property well. Similarly, if you are renting the place furnished then some homely touches such as rugs and mirrors make the house more comfortable and desirable.
Add an Extra Bathroom
Tenants are increasingly looking for an ensuite master bedroom or a property with two bathrooms. If you can, consider installing an extra bathroom to increase the value of your rental property and the overall value of the house. An ensuite bathroom is a strong selling point that can attract a better-paying tenant to your home.
Put in an Extension
Again, this is a serious investment and not to be taken lightly. But it could improve your rental yield and help you sell your property at a bigger profit when you decide to put the house on the market. You will be able to charge more rent for a bigger property. And you are more likely to attract higher paying tenants, for example, families with two wage-earners. The extension will be a lucrative addition to your home when buyers or tenants are comparing your property with others in your area. If you are unable to build an extension, consider loft or cellar conversions to enhance the value of your house. Essex is a competitive market and the more you do to maximise the appeal of your property, the better.