Ten top tips for achieving the highest rent
When it comes to renting out your property, you will want to achieve the highest possible rent. Here are ten top tips for achieving the highest rent.
Make sure the property is spotless before you allow viewings or take pictures
If you are looking to achieve a higher level of rent, you want to make sure that the place is spotless, which means that a lot of cleaning has to be done. Whether you take on the task yourself or you hire a professional to do so is up to you. If you are good at cleaning and you don’t mind some hard work, you can do the job yourself and save money. However, if you lack cleaning skills and don’t like the thought of scrubbing for hours on end, hire a professional cleaning team and reap the benefits of their hard work and effort.
Arrange different client viewings for the same time
If you have a number of people interested in your property, don’t give everyone a one-to-one time for a viewing. Arranging a collective time for people to get together and view your property will ensure that everyone knows that other people are interested, which can create a high level of demand. It is human nature to react when you see that other people are interested and it may even lead to a bidding war.
Make a positive first impression
If you want to receive higher rents, you need to make sure that people are impressed with your home before they even step inside your home. This means you need to make sure that your garden or entry is clean, that you have painted your door and windows and that your property gives off a positive vibe from the outside.
Consider your appliances
You don’t need to invest in new appliances to make your home look more attractive but you do need to ensure that they look sparkling and seem in great condition. Spend time scrubbing and cleaning these appliances as best as you possibly can, as this will increase the chances of potential tenants liking what is on offer and looking to move in to reap the benefits of what is on offer.
It is fair to say that most rental properties will have linoleum in the property, normally in bathrooms and kitchens. This is fine but there is no excuse for having cracked, grubby or damaged linoleum. There is also no excuse for covering linoleum up with a rug; this is a material that is cheap to buy so make sure that you replace it with new lino. A good quality floor is essential in finding a good standard of tenant so don’t cut corners on this aspect.
Dress professionally and crate a positive impression
When it comes to making the best possible impression on your potential tenants, you should dress for all viewings and meetings in a professional manner. You don’t need to wear a suit, but you should dress smartly, be on time and act in a professional manner.
Think about what you invest in
There is a lot to be said for spending some money to bring in more money but you should give your investment plans serious consideration. Think about the things that matter to potential tenants and this usually means clean and new (or at least new looking). Kitchens are vital when people are looking to buy homes but they aren’t quite as important when it comes to renting properties so don’t go overboard with new kitchen surfaces, tiles or other non-essential aspects.
You can raise the amount of rental income you receive by investing smartly in your property but equally, you should only spend money on items that matter and which will make a difference around your home.
Promote your property
When it comes to spending money to get a return, think about how you promote the property. It may be that spending money on advertising your property in a high standard of magazine, newspaper or online site will pay off. Combine this tip by scheduling viewings for the same time and you may find that you have a bidding war that immediately pays for your added advertising spend.
Replace carpets with laminates
Again, this isn’t a decision that is sensible for someone selling a home but in the rental market, laminate is better than carpets. Laminates are easier to clean, they are easier to keep in good condition and they have a better long-term future. This is of benefit to the tenant in maintaining the home but it will save you time and money, which is always of benefit.
Raise your rents for your first advert
If you have some time before you need to rent out your property, promote it at a higher rental price. If you were looking to receive £800 a month, why not promote your property at £900 a month and see what level of demand you receive. If you receive no or very little demand, you can drop your figure to the expected £800 a month but you may find that someone wants to rent from you at the higher price!
For more advice on renting your property, give your local property experts at Liberty Gate a call on 0115 853 2199.