Maximising your rent as a buy-to-let landlord
At ESPC Lettings, we deal with landlords and buy-to-let investors on a daily basis. We always recommend that, as a landlord, you think about what type of tenant you want, you consider the location of your property and who it will appeal to, and think about the condition of the property.
Once you have decided on an area and you are searching for your property, always consider:
- The condition of the exterior.
- The condition of decor and fixtures. Is the property in good decorative order? If not, it is best to budget for this in advance?
- What will cost you money over time?
- Has the property been well maintained?
- Communal factors such as condition of the roof and stairwell.
Maximising your rent is achieved through the combination of:
- Decor that appeals to the widest possible market.
- Deciding on whether you will market it as furnished or unfurnished and choosing good quality matching furniture. As we would be appealing to high end tenants, then high quality furnishings are a must.
- Appropriate marketing: tell as many people as you can about your wonderful investment property.
- A procative approach to repairs and maintenance. For example, servicing boilers annually may save money in the long run.
- Know your competition: get the edge over them.
- Proactive management: Invest in your tenant (the right tenant). Encourage them to make the property their home and maintain it well through leading by example.
If you would like to find out more about how we can help at ESPC Lettings, contact us today on 0131 2532847, email landlord@espc.com or pop in to our George Street showroom.