Buy-to-Let Makeover Without Breaking the Bank!

Makeover your BUY-TO-LET PROPERTY & attract tenants without breaking the bank! TO LET Room-by-room advice and tips from industry insiders about getting a property ready to rent. The rental market is booming - according to the newspapers. But achieving headline-grabbing 6%-plus yields and keeping outgoings down is tough for landlords. Follow this suvide and make the most of your buy-to-let home - without breaking the bank. This guide to refurbishing a home on a budget brings together tips, hints and time-honed advice from experienced voices who know what it takes to let a property. Tips for doing up a bedroom A bedroom needs a bed, side tables and clothes storase. Go for a bleach-cleanable, cappuccino carpet with a gvality underlay; the colour will hide any minor marks and the underlay will considerably lengthen its lifespan. Focus on furnishings that are practical and durable. Use a silk paint, rather than matt. This way you misht be able to wipe the walls clean between tenants, instead of repainting the room. Landlord facts Furnished flats command a rental premium of 8.1% 23% year-on-year increase in buy-to-let mortgages Tips for refurbishing bathroom a Never put carpet or laminate flooring in a bathroom; the wet conditions can cause it to rot. A humidity tracking extractor fan will work as and when if's needed: ideal for keeping damp at bay. dark grout. It will hep the bathroom looking keep When tilins, vse a newer for longer. Taps are definitely worth spendins extra on. Cheap models will break in no time and plumbers can be expensive. Landlord facts The average monthly rent in Great Britain is more than £1000 *30% plus of UK households live in rented property Tips for refreshing a kitchen Cupboard doors can be painted, sivins your kitchen a bright new look without breaking the bank. Matt tiles are great at hidins grey cooking stains. With a sood clean and some new srout these tiles will look as sood as new for the next tenant. Most tenants will expect a kitchen to incl/ude white soods, such as a fridse, a freezer, a washing machine and maybe even a dishwasher. Stubborn stains on worktops can sometimes be cleared with nail-varnish remover. 1gve p taioi czg ter betuvier does on ules Fiese eeck for s0.0 payabe oyou Ward or rac ipo youar Ward Cao Spectalbr ao latur thun A e et parcen Landlord facts ine feirle sye) aduh des There are 14 million people investing in buy-to-let property Tips for decorating living room a In a lovnse, tenants will expect a sofa, an armchair and side tables. Roller blinds are great for living room windows. They are simple and don't take up much space. Think about soins for hardwood flooring, covered with a rus. This is easier to replace than carpet. Choose sofas and chairs with removable cushion covers. These can be washed or replaced between tenants, siving the furniture a total refresh for minimal outlay. Landlord facts TO LE Advertised rents up 5.65% £62 on June 2013 Tips for maintaining a garden and the outside of the house Trim back any overgrown trees that youre allowed to and let natural light fill your property. Change the locks, especially if a tenancy ended badly. Unblock the drainpipes. It takes 30 seconds and could save you a fortune later on. A patio is much easier to maintain than a lawn. A few tips to keep in mind throughout your refurbishment www.landlordlaw.co.uk says: "Furnishings must comply with fire regulations. You can get helpful leaflets about your legal obligations regarding furniture from your local Trading Standards office." Budget appropriately for furnishing your home. A cheap terrace may never recoup a big outlay on decent furnishings, but a good-sized family home might. www.homelet.co.uk says: "You need good-quality and durable items in your property, but you don't want to break the bank. Check out sites such as Freecycle and Gumtree to see if there's anything you can pick up without cost." You want your home to appeal to the widest section of your market: so aim the décor towards the middle of the road. Beware of going too cheap - sometimes paying extra for quality really is worthw hile. www.lettingaproperty.com says: "Letting a property furnished or unfurnished will depend on your target audience. For example students are unlikely to have any furniture." If the property is vacant during the renovation period, you can apply for council-tax exemption. Go for soft neutral rather than white paints. Light shades of brown, grey and slate will still make your property feel airy and spacious, but won't get grubby after a few months. www.rla.org.uk says: "Many tenants bring their own furniture, w hich a landlord is not responsible for. However, a landlord should check the items meet fire regulations or else their insurance may be invalidated." Keep your receipts you can claim them against your tax bill. Buy extra paint, tiles and wallpaper, so that you're prepared for any minor decorating touch-up jobs. Expect to decorate every two years. Don't let your own style influence your décor. Talk to a local letting agent about the type of tenants your property might attract and then tailor your refurbishment to meet their needs. Blinds Supermarket Landlord fact sources: http://www.mwultd.co.uk, http://www.countrywide.co.uk, http://www.propertysecrets.net, http://www.cml.org.uk/cml/home