Renovating a buy-to-let property can be an expensive process and it’s natural to be willing to keep costs as low as possible. Here are some tips on how to renovate your rental property that will help you save money.
Focus on paint
Paint is one of the first elements that people notice when entering a rental property. A coat of paint can make your property look newer and brighter. Make sure to invest in high durability paints as they usually contain acrylic and will help protect your walls from inevitable knocks. Stick to neutral colours such as beige, grey and cream. You can always offer your tenants the option to paint the property to their taste as long as they paint it back to a neutral colour when they move out.
Flooring is key
The flooring in your rental property needs to be able to withstand a lot of wear and tear. Ideally, you want floors that are low maintenance to eliminate the expense and headache of upkeep. Laminate flooring is one of the best options for buy-to-let properties. It is much more durable and can withstand a lot more abuse than carpets.
Invest in white goods
Many tenants expect white goods as standard these days. Some of them don’t even own any white goods and may not be able to afford brand new ones. The option to rent somewhere with a fridge, dishwasher and washing machine included can be seen as a real advantage on the market.
Provide plenty of storage
People are increasingly taking on rental properties for longer periods of time and storage space has become more sought after by tenants. Some small and simple tricks for boosting storage in your property include adding hooks to hallways and bathrooms or installing shelves in your living room. This can make a big difference when it comes to making your property stand out from the crowd.
Give your kitchen a makeover
A modern and well-equipped kitchen will attract tenants willing to pay good money for your property. Make sure you opt for kitchen furniture that is durable. Adding new appliances, upgrading countertops or switching cabinet handles to a more modern design will bring you a considerable return on your investment.
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