How to maximise your rental income?

Property management isn’t easy, trying to find the best tenants for your property can prove to be a challenge. In this blog, we are going to discuss a few ways to help you maximize your rental income and how to find the right tenants.

Make sure the front is clear

It’s well known that a clean and tidy property will attract more potential tenants than a property that looks untidy, dirty or unkempt. Plants are a great way to liven up any property, a bit of landscaping can turn any property around.

Adding light

No one likes a dim and dull-looking property, so it’s always a good idea to ensure each room has enough light. If possible, make sure the lighting is natural by opening curtains, cleaning windows and trimming any hedges that may be in front of them. If you can’t make use of natural light use Halogen lightbulbs, they give off a “white light” which is the closest to natural light than any other lightbulb.

Interior & exterior paints

Painting can also help with lighting; with the right color scheme, you can maximize your lighting potential. Colors like white, cream or even light blue can create a calming atmosphere and put your potential tenants at ease when viewing the property. Make sure the paint is clean and not chipped or peeling on both the interior and exterior as this will make your property look damaged.

Increase the price gradually

If you’re looking to increase the rent whilst you have tenants already living in your property, make sure you have been keeping up with maintenance. If you have been doing everything, you should then only increase the rent gradually and over a long period of time. An instant increase in rent can be too much for some tenants and you may lose them. Davis brown experts would guide you in detail what strategies need to be opted for

Provide basic facilities

You need to provide basic facilities such as gas, electricity, water, and heating. The property must also have a functioning kitchen and bathroom. In order to maximize your rental income, you need to provide basic facilities, this can also include white goods, carpets or flooring and ensuring everything is functioning properly. The less work the tenants need to do to make the property habitable the more you can charge for rent.

These are the things that we need to follow for maximizing rental income. Experts for property management in Soho have been advising their clients to follow these tricks to see better results.