While it can be an incredibly lucrative and rewarding undertaking, managing a rental property is also rife with stress. This is obviously most often the case because of unvetted or poorly paired tenants, but you can have a picture-perfect family living in your rental, and you’ll still likely experience some issues along the way. After all, far from simply letting out a property and forgetting about it, landlord responsibilities mean that said family's quality of life, and enjoyment at home, also rests on your shoulders. And, as is often the case with homeownership in general, things have a habit of getting in the way of that.
Regular home checks and easy communications are, obviously, the best possible ways for landlords to directly prevent escalating problems from taking their toll. But, even before tenants have moved in, there are a few simple steps that landlords can take to keep their properties in the best possible shape for longer, and those include –
Investing in high-quality appliances
Countless landlords will opt for cheap appliances without thinking about how this impacts functionality, or how much it increases the risks of breakdown. Unfortunately, issues including boiler breakdowns and broken washing machines are one of the main reasons that tenants have to contact their landlords, and if they keep on happening, it can either lead to lost tenants or escalating repair costs that never quite leave the problem in the past. By comparison, investing upfront in high-quality, tested appliances that will surely stand the test of time is a far more lucrative and honest way to operate, ensuring not only that tenants stick around for longer, but also that repairs are a far less regular requirement.
Removing soft furnishings
Furnished apartments will typically attract higher monthly rates, but it’s important to note that keeping soft furnishings in an apartment from one tenant to another can be problematic, especially as general wear and use create questions around hygiene and appearances. With this in mind, it’s worth removing soft furnishings that could quickly get grubby, including cushions, sofas, mattresses, and even curtains, in place of ready-made bed frames, quality television stands and blinds like those offered by the Great Shutter Company. This way, landlords can quickly and efficiently clean all furnishings for quality, safe appearances that stand the test of time even between tenancies.
Replace carpets
Carpets can add a real sense of warmth to any rental property, but they also have a habit of getting grubby pretty fast. In fact, with most carpets needing replacements roughly every five years or so, carpet investments are often ruined in as little as two tenancies and can bring monthly rental rates rocketing down. By comparison, laminate or wood floors that stay looking fresh for much longer are again transferable across tenancies and are far less likely to need replacing each time you accept a new family.
Given that the quality of a rental property is essential for ensuring high rents and landlord compliance, these steps towards longevity are no-nonsense ways to secure this investment in the long term.
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