With the increasingly strong demand for rental properties, summer has always proven to be a prosperous period for the rental market. This year in particular, summer 2021 is expected to be an important period for property investors and buy-to-let landlords alike. With furlough ending and a steadily increasing economy, this summer is expecting to successfully alleviate itself out of lockdown gradually. Therefore, it’s imperative for landlords to ensure that they can prepare their buy-to-let properties in accordance, in order to stand out from other buy-to-let properties and secure suitable tenants.
With the help of these tips, you will be able to efficiently manage and prepare your buy-to-let property effectively in order to get your property on the rental market as soon as possible and increase appeal.
A key part of being a landlord is making sure you have all your documentations in order. This includes having legal fees paid for, financial plans, back-up plans, tenancy conditions and agreements alongside key information such as market research on the area in which your property resides and more. To ensure consistent periods of occupancy within your buy-to-let property, it is important to keep key dates, such as the period in which your tenants will move out, in order for you to advertise the property as soon as possible and find suitable future tenants, reducing void periods greatly. Being organised and allocating a period to get these things sorted permit you to reference faster and increase profit margins.
Home Improvements and Garden Maintenance
Buy-to-let properties that are well maintained and have updated utilities and furnishings always perform better in the rental market than those that differ. This is incredibly true in reference to garden maintenance during the summer period.
Properties featuring a well maintained and attractive garden area will attract more potential tenants, especially for those who love hosting dinner parties, pool parties and BBQ’s over the summer months.
Hiring a gardener and/or a landscaper can help to elevate and upgrade the space in your garden, making it more attractive and look bigger. With the help of one of these services, it can help highlight key features, further maximising the value of your garden and increases the overall rental yield.
Alternatively, you can do the work yourself, such as mowing the lawn or by adding furnishings such as picnic tables and benches to help greaten the appeal. A key thing to note is to not over-furnish your garden, as in the rental sector, less is more. By decorating your garden with 1 or 2 key furnishings, will allow your garden to look more spacious and tidier, as opposed to cluttering it and taking up unnecessary space.
Small upgrades such as lighting sources fitted with smart bulbs, ornaments, flowers, security systems and mirrors amongst other things can help add attraction to your buy-to-let property and increase client interest.
Professional Photography & Marketing
Due to the onset of COVID-19, video tours and virtual viewings have become a necessary tool within the property investment sector. Video tours can help greatly speed up the process and secure tenants faster, following the governments guidance for only viewing a property in-person at the financial decision-making stage, helping to rule out in-person visits from window-shopping tenants.
Strong marketing can further help secure more suitable tenants and could increase your credibility as a landlord. It is key to market your property on a range of different property sites, to greatly increase receptive response rates and registrations of interest. This tied with strong professional photography that highlights the key areas of your buy-to-let property can immediately spike interest rates.
Conclusively, it is essential as a landlord to be proactive in your approach in order for your buy-to-let property to successfully stand out in the rental market. Summer 2021 is the perfect time to market your property, accentuating the appeal with a well-maintained garden. Organising yourself as a landlord and having documentations on-hand for fast reference can help alleviate the issue of your property bearing long void periods, helping to increase overall capital gain and profit margins.