The Property Podcast TPP214: How to create the perfect rental property
What makes the perfect rental property? This week The Robs give their tips on what to do and what to avoid, in order to create the ideal rental property for both you and your tenants.
What is more trouble than it's worth? What is an absolute essential? The Robs give you their take on how to make your property work for you and ensure it gets tenanted quickly and with no fuss.
In other news, we're putting the finishing touches to the next edition of the magazine, it will be with you very soon and includes and interview with Grand Designs presenter McCloud (yes, we're pretty excited about that too). PLUS there is a webinar coming up just for magazine subscribers which you will be very excited about, so watch this space.
Rob D has finally completed his new book 'How to be a Landlord' and we all think it's his best one to date. Keep an eye on your inbox for news on that very soon.
Now, back to the subject in hand this week - what do you need to do to create the ideal rental property?
Flooring:
- Good quality laminate is good for kitchens, bathrooms and high-traffic areas. Make sure it won’t easily rip or warp, don't skimp.
- Dark coloured carpets only! Good underlay makes cheap carpet feel thicker.
Walls:
- Paint straight onto plaster if you can
- Mainly white or very light grey paint – same colour and brand in every property
- Feature wall
- Water-resistant eggshell or acrylic paint in bathroom and kitchen
Bathrooms:
- Shower over bath rather than shower tray
- Electric shower so it’s not dependent on boiler
- If possible, second bathroom or at least another toilet so if one breaks it’s not an emergency
Kitchens:
- Replacing cupboard doors and work surface might be enough to make it look new
- Avoid integrated appliances. A
Gardens:
- Pave over as much as possible
- If you can convert some into driveway or parking, do.
Electrics:
- Plenty of plug sockets
- Maybe USB sockets
- Get an electrical safety check because will probably need one soon anyway
Safety:
- Hard-wired smoke alarms, carbon monoxide alarm in rooms with boiler and as appliances, heat detector in kitchen
Furnishing:
- Avoid as much as possible - including appliances if you can get away with it
General:
- Don’t impose your own taste! Keep it simple
- Don’t over-spec. Rental refurb is very different from a flip (or your own home)
- Be active in overseeing the project
News story: Rogue Landlords Beware!
There's no bad landlords round here of course, but this will definitely be a big issue for those who are not playing fair and by the rules. Can't be a bad thing, right? Absolutely, provided that it is correctly administered of course! Read more here.
Resource of the week
So this week's resource of the week is commutefrom.com which helps you decide where to buy a house around London. It tells you which stations are within your preferred commute time of the central London station nearest to your work. It also tells you information like the average house prices, crime rates, and schools in the area. Clever stuff, huh?
Continue the conversation over in the forum
What did we miss? Did you disagree with any points? What do you always make sure you do?
Let us know your take on this important subject and join the conversation over in the forum!
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