How to get a better rent
on your London property
As a relocation agent I am
frequently in and out of rental properties all over London. Some landlords keep
their rental properties in excellent condition and have got it right in terms
of décor and maximum usage of space. Other landlords get very low marks indeed
and seem to think that even though their property is run-down and in need to
repair, they should still be able to command a high rent. Not so!
Here’s a simple example of
the type of thing I come across regularly and which puts off my clients (the
tenants) completely. I recently showed a three bedroomed property to a client
in Battersea. It was ideal in terms of the internal layout, the quality of the
furnishings and best of all, its proximity to the children’s school. There was
one drawback: the front door and pergola to the front of the house were badly
in need of repair. The wood had rotted away in parts causing the pergola to
lean perilously to one side and the paint on the front door was peeling off.
Both the pergola and door had last experienced some tender loving care many
moons ago. One of the terms of my client’s offer was for cosmetic repairs to be
carried out to make the pergola safe and for both to be repainted. The landlord
refused outright. Needless to say,
my client chose another property instead.
There are a couple of issues
worth raising based on this story. Firstly, the letting agent should have
informed the landlord that the property needed to be in reasonable condition in
order for a good rent to be achieved. The pergola and front door should have
been fixed long ago as par for the course.
Secondly, ongoing maintenance
is cheaper. Once a tenant moves out a rental property should be freshly painted
and cleaned professionally in readiness for the new occupier. Not all
properties need to be painted in between tenancies especially if the tenancy
has been very short (common sense here) but any scruff marks should either be
removed through cleaning or painted over. The benefit to the landlord is
obvious: he will expect the property back in the same condition as he handed it
over to the tenant.
The same applies to kitchen
and bathrooms. Tired bathrooms and kitchens can be a real turn-off to
prospective tenants. Ready-made kitchen units are widely available on the high
street and tend to be reasonably priced. Installing a fully fitted kitchen
including all appliances can be as little as £1,000. (if you buy free standing
units). And installing a new toilet, sink, bathtub or shower can be less than
£2,000. Here’s a useful tip to landlords: when installing kitchens or
bathrooms, do ensure that the ventilation is efficient. Inadequate ventilation
can cause long-term damage through condensation build up and can be promote the
growth of toxic mould. So remember: Tenants will be willing to pay more and
will probably stay longer in properties that are maintained and presented in
good order making it a win-win situation for both landlord and tenant!
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