Following the end of the academic year, students leave their temporary short-term accommodation, leaving properties ready for new tenants. More and more HMOs are being used for students, meaning there can often be a flood of rooms coming on the market at similar a time.
After a hard year of surviving students, some rejuvenation and TLC is often required. So, why not go the extra mile in this period to make your rooms appetising and quickly snatch up tenants?
A Clean Sweep
Invest in professional cleaner. A professional clean of the carpets, curtains and mattress is a must. Do not underestimate the appearance of the entire property, not only the individual rooms but the communal areas must look good. Note that if a house smells clean, they often are clean! Perhaps brew some coffee and place incense sticks around the house to give a subtle touch and entice tenants to sign with no hesitation. Cigarette smoke, pets and anything damp, particularly in lower ground flats, will turn potential tenants away as these smells linger. Whilst you do not want to scare away potential tenants by talking about damp, it is important to be up front. If this is an issue in your property, you can take several steps to try and prevent it. For example, ensure that the property is well ventilated and maybe even invest in a de-humidifier for the property.
Top interior design tips this summer range from creative lighting and mirrors to the furniture design and layout. Invest in some colourful rugs, linen and towels to create a bright feel this summer and even some garden furniture or indoor plants. Hiding clutter and the clever use of mirrors can make your property look and feel double the size. If you want to go the extra mile you could speak to an interior designer and see what you could achieve and this could be worth your investment if you were able to increase the property’s rental value. It doesn’t have to be expensive, these clever tricks can be inexpensive and easy to install.
Advertise on the right places with the right agents
Make sure you are signed up to suitable agents so you reach suitable tenants. Whether you are looking for students, professionals, retirees or deciding between short and long term lets these make a difference when choosing agents and websites. It may be cheaper to advertise on a website than go through an agent so cost is an important factor to consider. Talk to your friends about their experiences with different agents. Furthermore, when using an agent to market your property, ensure it is obvious that individual rooms are being let, not the entire property. Another tip is, if your tenant has been upstanding, talk to them – they may have some friends they can recommend.
Invest in Insulation
Good insulation may cost you money initially, but it will pay off in the long run. Better insulation will lower energy bills and attract more tenants, especially with online sites now offering information on average monthly running costs. Cavity wall, loft and tank and pipe insulation will save over £300 a year on average from the annual energy bill and inexpensive ways such as thick curtains, chimney balloons and drought proofing will reduce heat loss.
New legislation from April 2018 requires properties to have an Energy Performance Certificate (EPC) above an E rating in order to be leased with a new tenancy. This forces landlords to take action and invest in increasing their properties energy efficiency. Consequently, tenants have cheaper bills making the tenancy especially attractive for students who are on a budget. Installing a new smart meter is great for tenants to visibly see their energy use and can use more/less accordingly.
Arthur is ideal for property managers/ landlords as they can manage their property portfolios through the app making the whole process simpler. Tenants can raise an issue with a tap on the App which makes their tenancy experience more transparent, easier and efficient.