How To Renovate Your Buy To Let Property With No Headaches
Renovating buy to let properties can be tricky. If the project takes too long to fix, you end up losing money. However, if you don’t fix the property at the first sign of trouble, you’re going to turn off tenants. To help you make the best out of a difficult situation, here are some reminders whenever you’re renovating your buy to let property.
1. Begin With A Well-Laid Plan
Timing is everything, especially when renovating buy to let properties. Longer periods of renovation, simply means the longer time your property is left empty and without paying tenants. So how do you prevent this from happening? Plan out everything as if you’re creating a buy to let business plan.
Make a realistic timeline for every project you want to complete, whether it’s small or large, and stick to it. As much as possible, source and contract every material and contractor you’re going to need before even the start of the project, so there’s nothing left to do but build when the time comes.
If you want to redecorate in-between different buy to let deals, start the job the day after the previous tenant leaves. It’s even better if you can start the job before the expiration of the lease agreement, if you can get their permission.
2. Out With The Moulds
Since we’re already in the subject of renovating buy to let properties, don’t ever forget to clean the property off moulds or materials that may contribute to its growth.
I’m stressing this because moulds are considered as potential health risks for people, and once your buy to let property has been found to be contaminated with moulds, prepare to lawyer up! Aside from that, moulds could cut through paint/plaster, and fixing the damage could also cost you additional boat loads of cash.
3. What To Add In And Throw Out
At this portion of the post, I’m going to share with you some highly recommended additions for buy to let landlords, and some “improvements” that you’re better off without.
Don’t be shy to “tile” it up. In buy to let investment properties it’s highly advisable to use tiles around the house, especially in rooms which are prone to moisture like bathrooms, utility rooms, and kitchens, because they’re resistant to infestations and easier to maintain.
One common feature of properties to let is that they have light paints or carpets installed in them. Don’t make this mistake. While the light color gives off the illusion of space and cleanliness, at first, it will eventually turn into a murky color in buy to let properties. It’s extremely hard to maintain and clean walls and carpets with light colors, and these are things tenants easily notice.
Since floors receive the brunt of daily wear and tear, it’s also highly recommended to spend a little extra on thick and durable carpets that can withstand heavy treading and toxic carpet shampoos. Carpets made of cheap and light materials can give you the savings at the beginning, but you’ll end up replacing them more times than you care to count.