Top renovation tips for new landlords in 2023
2023 looks set to be another busy year for the housing and rental market. Estate agents Chelmsford based seem to have noticed a rising number of new properties being listed, making it one of the busiest Januarys on record for some. For new landlords who are looking to renovate their property ready to rent out, we have some top tips and inspiration to get you off to a flying start. Keep reading for the full low-down.
Plan your renovation and stick to schedule
You won’t want to risk losing time and money whilst your renovation is taking place, so planning is highly important. Project manage the renovation yourself or hire someone trustworthy to do this. Ensure that funds are released in stages to keep contractors motivated on the project during every step of the journey. Every month that your property is not on an agency's books, you are losing money. This makes it vital that the process runs as seamlessly as possible and that you work to specific completion dates.
Choose hardwearing products
The products and the finish of your renovated rental property should all be easy to maintain and simple for tenants to keep clean. Whilst you can’t control how well a tenant will take care of your property, you can make it easy for them to do so. This gives you the best possible chance of having less upkeep and repair work in the years to come.
Tiles and splashbacks - the kitchen is one of the first areas where you may notice damage occur. You’ll save yourself money in the long run by tiling the area, adding splashbacks behind the cooker and thinking about daily use. Choosing wooden kitchen cupboards and cabinets will allow them to be repaired and repainted time and time in whatever colourway you desire.
Paint - ensure that the paint you choose is wipeable and resistant to mould and condensation. By using this type of paint, rather than a matte finish, you will ensure that this can be wiped, and that damp will be less likely to occur.
Patios and slabs - high-quality patio areas will last for many years. This is an area where scrimping on the groundwork should be avoided. Uneven slabs could also pose a safety hazard to tenants.
Ensure that outdoor areas are secure and finished to a high standard
Give garden fences a lick of outdoor paint or varnish to protect them from the elements. Keeping them well maintained and secured down will help to avoid weather damage. You should also ensure that all gates and entrances can be locked, this will help to prevent damage or unwanted access.
If you intend to furnish the indoors or the outdoors of your rental property, talk to your agency and confirm any rules that should be added to the tenant’s handbook surrounding the use of these.