Whether you’re new to the buy-to-let sector or an established landlord with a large portfolio, knowing how to decorate your rental property can be vital in maximising your return on investment.
Many landlords are constantly wondering how to decorate and furnish their properties for tenants. London estate agent Portico reports that its landlords are always asking how they can maximise their rental returns through decorating.
To find out exactly how landlords should decorate their rental properties, the firm commissioned a survey among 1,000 prospective tenants.
The renters were shown a choice of several reception room options and were asked which one was the most appealing to them. This video reveals the results.
How you should decorate your rental property:
The majority of tenants liked modern interiors, including the following features:
- Simple furniture
- Neutral colours
- Contemporary laminate flooring
Not far behind was the homely look, such as:
- Leather sofas
- Antique pieces
- Painted walls
Some tenants prefer a quirkier style, involving:
- A feature wall
- Quirky pieces
- Wooden floor
- Neutral furniture
The least popular look was minimalist, which includes:
- Simple and chic
- Minimal furniture
- Bright white walls
The results highlight how important it is to get the right balance of style when preparing your property for tenants. Though most renters prefer a contemporary look, many search for a homely property when renting.
Ensuring that your property is modern, with neutral colours and furniture, is the best way to attract a broad range of renters. However, a few homely pieces will make the flat or house more comfortable for new tenants.
The winning room was by no means the most expensive to create, but still appealed to the broadest range of tenants. Use the following list to help you choose the right furnishings and décor for your rental property:
Remember to lay rooms out in a way that defines specific areas, yet still remains spacious. Putting spotlights in will create an even brighter room, adding to the natural light already present. If your rooms do not have large windows, you can still create the impression of space and brightness.
It is always a good idea to redecorate or update your rental property in between tenants, but it is vital that you protect your investment while it is empty.
Unoccupied Property Insurance will ensure that your rental property is protected and safe while it is vacant, so that you can enjoy getting it ready for new tenants.