Increase your rental income

December 12th 2013
By: Melanie Hollidge

As we begin the New Year, many people up and down the country plan to move – whether it’s going to be buying a new home or moving to rented accommodation.  As a landlord looking to increase rental income – here are a few ideas of how to achieve the most from your property.

Identify your market and then decorate accordingly – make sure your property is tastefully and recently decorated.  Remember you want to appeal to the widest market possible, but like an interior home magazine, you’re selling a lifestyle.

If you’re new to the lettings business, ask our agents for advice on the market – if you have your property already, they can advise you on what works and doesn’t work in your area, what sort of prices have been obtained already and who is currently looking to rent property.  If you’re looking to invest in a rental property, our agents can advise you on the best properties to look for.

Should you really want to maximise your return, traditional properties with period features always obtain higher rentals than new builds.  If you want to add character to your property, why not visit a salvage yard for original fixtures and fittings, like doors and fire places.

If you have the potential to add an extra bedroom, it’s likely to benefit your pocket in the long run.  Families are happy to put a child in a small bedroom, but if your market is professional couples or adults sharing, they tend to prefer larger rooms.

Full renovation done properly can increase the rent even more significantly.  Talk to one of our agents about unlocking the full potential in your property and increase your income for 2014.