How to maximise the appeal of your property investment – words Al Woods
If you’ve chosen to invest in property, then you will be well aware of the benefits. Rental yields, capital appreciation, growth potential — all of these things make property one of the best investment opportunities available.
Obviously, its important to find the perfect property for you, and investing with an experienced firm like RW Invest will mean that you have a property which is a great investment for many years.
Once you have purchased the perfect property that matches all your criteria, you could just wait for your earnings to come in. However, there also a number of things you can do to maximise the appeal of your property investment.
One sure way of maximising rental returns is through going for the best quality finish available to you. A new bathroom and kitchen are one of the main things that tenants look for, as this will be there for the duration of their tenancy. If you have chosen to invest in an off-plan investment, then of course your ideal tenant will be pleased to find that they are the first person to have lived in the property, and this has a huge appeal. It is important to not cut corners and choose the highest quality fixtures and fittings available as they will last longer and be far more attractive to tenants.
Another way you can maximise the appeal of your property investment is through adding extra features and bonuses to your property that make it stand out from the crowd. It could also allow you to increase your monthly rental income, as often tenants will pay more for premium features in their rented accommodation. A recent survey of over 3000 tenants into what added extras they were willing to pay for showed that renters are looking for far more than four walls out of their rental property. One popular feature that has been increasingly present in new developments is an on-site gym, which 41% of tenants said they would pay more rent for. A communal garden was another firm favourite, with 32% of tenants saying they would pay extra for it, especially in towns and cities. 13% of tenants said they were willing to pay an extra £28 a month for cleaning services and 27% would pay extra if there were recreational and work spaces that were included in their rent. It is definitely worth looking for these extra features to maximise the appeal of your property investment, and it may make your investment far more appealing and profitable.
When it comes to design, it is always best to make sure that your rental property can appeal to as many tenants as possible, which is why plain white walls and wooden floors are often the most popular choice for rental property interior design. However, it can be hard to make your property memorable if it is exactly the same as all the rest. Using unique details and quirky design elements can be a great way to maximise the appeal of your property investment. Whether it is one colourful feature wall, pieces of art, or a few house plants, making your rental property seem like a great place to live is essential to getting the best tenants.