MyPropertyPowerTeam
Find your next rated tradesperson
Find a Tenant The Business Pages for Property Investment Current and archived property articles Join in our Property Investment and Landlords Forum and have your say! return to my property power team home page Services for Landlords Buy to Let mortgages and legals Find your next investment Prosper with Property Education Property Investment networking opportunities
articles > Optimum Rental Income
Article > Optimum Rental Income


 

Article kindly provided by Adam Singleton

Renting out a property is an endeavour worth taking time and effort over if you want to benefit from the long term plus points. From making the property as appealing as possible to finding the right tenant, there are several factors you will need to take care of before you can be sure you are earning an optimum rental income.

 

Regardless of whether you are renting your property out for the first time or you have been doing so for some time, there are always steps that can be taken to help guarantee your rental income.

First and foremost it should go without saying that the property should be as attractive as possible. Avoid garish colour schemes as this is likely to scare off potential tenants. The safest option is to keep decoration plain and neutral.

Threadbare or stained carpets, broken appliances and poor levels of cleanliness are all negatives and should be avoided at all costs. Simply having a clean and tidy property with a decent level of decoration should attract tenants and keep your property on par with the competition.

Once your property is in a rentable condition you need to tell the world it is available. There is no point going to the expense and effort of preparing your property and then failing to advertise it well.

The internet tends to be the first port of call for would-be tenants so explore online advertising opportunities. You should be able to find websites dedicated to listing properties to rent in your area and this is one of the best ways to raise your profile. Featuring your property on as many of these websites as possible is a wise step.


Other ways of advertising your property include local newspapers and classifieds as well as the good old fashioned method of popping a note on the notice board of local shops and stores.

Look at properties similar to yours to get an idea of how much you should be charging for rent. If you set the rent too high you are excluding prospective customers who will simply find a better deal elsewhere. You may need to retain an element of flexibility when it comes to rent. It makes more economic sense to rent your property for £25 under the asking price every month as opposed to holding out in the hope someone will pay the higher price.

As there are currently more rental properties on the market then in recent years you may need to throw in a little extra in order to seal the deal. Paying for the television license, for example, is a lucrative but fairly inexpensive way of offering an extra incentive for potential tenants to choose your property over anyone else's.

To save yourself money in the long term, ensure you have a comprehensive landlord's insurance policy in place. With insurance in place you can make a claim if need be which helps to make sure you are not personally out of pocket.

 

About The Author:

Adam Singleton writes for a digital marketing agency.
This article has been commissioned by a client of said agency.

 

Upad sponsors of mypropertypowerteam

 

Sell or let your house privately

 

 

Bookmark and Share

 

Back to Top

 

Recommended Landlord Insurance Providers

simple insurance




Access the Business Directory

 
© 2018 My Property Power Team | privacy policy | terms & conditions | contact us | advertise |