Landlord Guide To Refurbishment

Timing is everything

Plan any refurbishment work early to keep vacant periods to a minimum. The longer it takes to renovate the property the larger the hit to your income. Not only will you miss out on the potential rent but you will also be liable to pay council tax and utilities whist the property is vacant. *Buildings Insurance – often if your rental property is unoccupied for over 30 days (some policies allow for longer periods) it can invalidate your policy so if you’re doing substantial renovation work where your property will remain empty for over 30 days then it is recommended you contact your insurer to inform them. Sometimes all you need is to replace the flooring, install new fixtures, and paint the walls and ceilings. However, it is advisable to renovate kitchens and bathrooms every 10 – 15 years as a newly renovated kitchen or bathroom can increase your rental yield by as much as 50% compared to other renovations. Tenants are turned off by old dirty kitchens or mouldy bathrooms that are in serious need of updating. Neither of these rooms should look outdated. If you’re considering doing any updates, these are the two rooms you should focus on. Where to start

Remember you are not living there.

Keep paint and carpet colours neutral. Yes, it can appear boring but every “personal touch” you add to the property is a potential repellent to prospective tenants.