{"id":12646,"date":"2020-03-28T04:35:39","date_gmt":"2020-03-28T04:35:39","guid":{"rendered":"http:\/\/www.kravelv.com\/?p=12646"},"modified":"2022-07-06T11:15:50","modified_gmt":"2022-07-06T11:15:50","slug":"tips-on-renovating-your-rental-property-to-increase-value","status":"publish","type":"post","link":"https:\/\/www.kravelv.com\/tips-on-renovating-your-rental-property-to-increase-value\/","title":{"rendered":"Tips on renovating your rental property to increase value"},"content":{"rendered":"\n

Running a rental property as a landlord\ndirectly, or even as a hands-off investment property, can be a lucrative and\nexciting business venture\/project. However, despite growing tenant numbers, particularly\nin cities, there is a lot of competition in terms of high-quality\naccommodation, and so it\u2019s often quite difficult to secure the perfect renter.<\/p>\n\n\n\n

That being said, here are a couple of\ndifferent ideas for renovating your rental property<\/a> to increase its value<\/em>,\nmaking your property stand out and enticing a larger amount of tenants in the\nprocess.<\/p>\n\n\n\n

Kerb Appeal<\/h2>\n\n\n\n

First impressions matter, particularly when showing potential renters around your property, and so a good place to start when renovating your property is the outside<\/a>. If you have an apartment or flat within a managed building then this might not be something that you can do much about, but even a jet wash on the tiles or a flattering picture on a sunny day can make that bit of difference.<\/p>\n\n\n

\n
\"\"<\/figure><\/div>\n\n\n

If you can\u2019t do anything about the\nlocation, then leverage it and use it to your advantage. Take a look at the\ntypical tenant that you\u2019re hoping to attract, and find out what sorts of things\nthey\u2019d be interested in that are local to your property, to use as selling\npoints. For example, if you\u2019re offering a student property, you might want to\ninclude some information about how accessible the local universities are, or\nbars and restaurants that are in the area. <\/p>\n\n\n\n

If you\u2019ve got a property that\u2019s within a city then this is a no-brainer, as there\u2019s always something that you can use and benefit from. If you\u2019re in a rural area, then less so, but then that\u2019s often where you have the ability to renovate<\/a> a bit more externally, or, again depending on the tenant, use the quietness as a benefit.<\/p>\n\n\n\n

Tip \u2013 <\/strong>If\nyou\u2019re still in the market for purchasing a buy-to-let rental property as a\nlong-term investment project, you should take a look at some of the best areas\nand think about where might be best in the long term for your strategy,\nfactoring in things like tenant demand, rental yield prices, and surrounding\nregeneration (if investing in a city property) RWinvest<\/a>\nhave a range of guides on their website, and frequently cite Liverpool as one\nof the best areas currently in the UK, offering an affordable alternative to\ncities such as London, with higher rental yield percentages and capital growth.<\/p>\n\n\n\n

Modern furnishings<\/h2>\n\n\n\n

Major renovations in important rooms\n(bathrooms, kitchen etc.) can certainly increase the value of your property and\nmake it more of an enticing offering, but modernising\nsome of the more basic stuff<\/a> can drum up just as much attention if\ndone right, and it\u2019s nowhere near as costly. If you adopt a minimalist style,\nfor example, start by stripping back on some of the stuff that\u2019s not needed.\nYou might find that you don\u2019t actually need to buy as much replacement\nfurniture as you might have thought you needed, and in fact you could even make\na bit of extra money from some unneeded furniture that you can sell on. Giving rooms\na fresh lick of paint with bright, inviting colours can also rejuvenate a home\nmassively, without much extra cost.<\/p>\n\n\n\n

Tip \u2013 <\/strong>Want\nto make the most of your rental property,<\/a> whether it\u2019s an apartment or\nfully-fledged home? Take a look at some of the unused space, and see if you\ncould so something more productive and beneficial with it. One growing trend at\nthe moment is the transformation of loft and garage spaces into something more\nproductive, such as a study or personal gym space. This, of course, will also\nadd value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Running a rental property as a landlord directly, or even as a hands-off investment property, can be a lucrative and exciting business venture\/project. However, despite … <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nTips on renovating your rental property to increase value - Kravelv<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kravelv.com\/tips-on-renovating-your-rental-property-to-increase-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips on renovating your rental property to increase value - Kravelv\" \/>\n<meta property=\"og:description\" content=\"Running a rental property as a landlord directly, or even as a hands-off investment property, can be a lucrative and exciting business venture\/project. 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