With the UK rental market set to experience further growth in the formative part of 2014, landlords are looking to expand their portfolios and profit accordingly. There are also a growing number of aspiring landlords who are hoping to enter to buy-to-let market as a result of this growth, although this bring new and exciting challenges that must be addressed. One of the most significant challenges is creating a desirable property for potential tenants, as this is crucial if you are to prosper in a competitive market.
Furnishing your Rental Property: 3 Tips for Novice Landlords
With this in mind, what practical steps can you take to create a popular and viable rental property? Consider the following: -
Source Cheap and High Quality Furniture
If you have advertised a fully furnished property, then establishing the layout of your home can be an extremely costly and time-consuming exercise. This is unless you identify affordable and reputable suppliers, however, who can sell you furniture in bulk and at a competitive rate. Suppliers such as the Trade Furniture Company can meet this need, while also providing you with access to a wide and diverse range of domestic products.
Use Colour Sparingly
Colour is something of a hot potato among buy-to-let landlords, as there are conflicting opinions as to how rental properties should be presented. While traditional landlords would use bland shades such magnolia or cream to embellish the interior of their properties, contemporary trends are more focused on the application of bold colours. With this in mind, modern buy-to-let landlords are more inclined to strike a balance between these two extremes, using one or two vivid colours to create a theme that runs throughout the entire property. While this can be a challenge, warm colours such as terracotta are ideal as they illuminate your property without having the potential to overwhelm potential tenants.
Create the Illusion of Space
With the British construction industry more prosperous than at any point since the global recession, there are a wealth of residential housing projects currently being undertaken throughout the UK. While this is primarily good news, it does create an issue in that modern new-build properties are becoming increasingly compact on pressed for space. As a buy-to-let landlord, your task is therefore to make the most of the space at your disposal, by adopting a minimalist design ethos and de-cluttering every single room. By optimising the floor layout and embracing open-plan designs were possible, you can create the genuine illusion of space and justify a higher rental price.