The rental market is growing rapidly, and experts predict that by 2020, private rented property could make up 20% of UK homes.
Millennials in their 20s and 30s are turning their back on crippling mortgages and years of saving for a deposit and instead opting to rent their home, giving them more flexibility and less financial worry as discussed, according to this recent BBC news article.
This is great news for landlords who have properties to rent, but for those wishing to attract the best tenants, investing in the right décor goes hand in hand with offering high-quality, desirable homes.
Furnished or Unfurnished
Whether the property is furnished or unfurnished is a personal choice for landlords and tenants, but it is definitely worth investing in property inventory software to keep track of what has been provided with the property from companies such as Property Inventory Software for Landlords. Tenants will often expect white goods such as washing machines and fridge/freezers to be included as these are expensive and need installing.
Always go for neutral colours instead of brighter and bolder ones. This will make the property look and feel bright, clean and airy. Spending a bit more on a good-quality silk finish paint means the walls can be cleaned easily and will look better for longer. It is also a good idea to paint the woodwork in a durable white as this provides a smart finish and will protect the wood from the inevitable knocks and scrapes.
When it comes to flooring, avoiding carpet in certain rooms can save on the need to regularly clean and replace. High-quality laminate flooring for living areas such as the dining room will make cleaning easy and keep the floor looking nicer for longer. When it comes to the bedrooms, laminate is also a good option, especially in modern homes. If you prefer carpet, get a good-quality one with a stain protector and be aware this will need professional cleaning for each new tenant and periodic replacement. Tiles are great for the bathrooms and kitchen but can be expensive; a high-quality linoleum can be a good alternative.
Making sure the property is clean, nicely decorated, and in full working order is key to getting reliable, responsible tenants who will want to stay.