Belvoir News Article

06/08/2007 - Making the most of your Investment - How to furnish a let for maximum returns

Forget worn out second hand furniture and gravy coloured carpets. According to Belvoir, the UK’s leading lettings agency which operates a national network of offices, anyone looking to maximize returns on a rental property needs to be savvy and furnish their property appropriately to attract good quality, long-term tenants.

The agency, which advises landlords up and down the country, offers the following tips to those looking to make the most of their rental property:

• Décor – less is more. Cream is in, bright red is not!
  
• Flooring – install hardwood or laminate flooring throughout with plain carpets for the bedrooms.
  
• Window dressings – go for simple, neutral curtains or blinds.
  
• Furniture - invest in good quality new furniture, forget second hand. All sofas, beds etc must comply with fire safety regulations. Match the needs of your typical tenant – e.g. a large dining room table and chairs for a family home or a desk/workstation for properties aimed at the young professional or student.
  
• Kitchen - include a good range of appliances and white goods - fridge freezer, microwave and washing machine are standard, where possible also include a tumble dryer and dishwasher.
  
• Garden – provide a lawnmower to encourage maintenance, present the garden or terrace well, include hard-wearing patio furniture.
  
• Security – fit quality door and window locks, smoke alarms, carbon monoxide detectors and burglar alarms as standard. Security lighting is also appreciated.
  
• Internet connectivity – ensure your tenant will have instant access to broadband.
  
• Storage – make the best use of space. Are there un-used nooks and crannies in the property which can be converted into storage space?
  
• Sky and Cable TV – make sure a cable or sky connection is available.
  
• Shower – fitting a shower is essential and can be installed easily above a bath. A power shower is a desirable luxury.

Belvoir’s Chief Executive Mike Goddard said: “To maximize returns on any rental investment, we advise landlords to do their homework and make an effort from the outset to furnish their property to a high standard. This makes it easier to let and attracts a higher caliber of tenant.”

“We are finding that, as the rental market changes, today’s tenants are becoming increasingly discerning and will simply walk away from poorly decorated and poorly furnished properties. A little extra investment upfront will reap dividends for landlords and set a benchmark for tenants who are far more likely to maintain the standard of the property, thus reducing costs at the renewal stage.”


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