As a landlord, it's essential to consider how you can increase both your property's capital value and rental income potential to protect your investment and maximize profits. At I Am The Agent, we’re here to help you make informed decisions about your property improvements.
Here are six enhancements that could boost both your property's value and rental appeal:
1. Create Additional Rooms
Adding more habitable space is a proven way to increase your property's value. While building an extension is one option, you might also be able to convert unused spaces like a garage or loft into an extra bedroom or living area.
Before proceeding, we recommend consulting our experienced team at I Am The Agent to identify what type of accommodation will add the most value in your area. You may also need to check local regulations regarding minimum room sizes for bedrooms to ensure compliance.
2. Upgrade the Kitchen or Open Up the Space
Tenants love a modern, stylish kitchen with quality appliances. Open-plan kitchen/dining/living spaces are especially desirable, so if you can remove a wall to open up the area, it could significantly increase both the value and appeal of your property.
When making kitchen upgrades, opt for durable materials that are easy to maintain, helping you save on future upkeep costs.
3. Enhance the Bathroom with a Great Shower
A bathroom with a powerful shower is always a big selling point for tenants. If your target market is families, having a bath is a good idea, but if space is limited and your tenants are likely to be professionals or couples, a spacious shower might suffice.
We recommend tiling the bathroom walls and floor for easy maintenance and choosing plain white fixtures to keep things simple and timeless.
4. Improve Energy Efficiency
While there's no law yet, it's likely that by 2030 rental properties will need an EPC rating of C or higher to be legally let. Making energy-efficient improvements now will not only future-proof your property but also make it more attractive to tenants, as lower utility bills are a big draw.
You could upgrade insulation, install double glazing, replace the boiler, or simply swap out older appliances for newer, energy-efficient models.
5. Create an Appealing Outdoor Space
A well-designed outdoor area where tenants can relax is a fantastic asset. If your property has a garden, adding a decked or paved area could increase its capital value and make it more appealing to tenants.
We suggest creating a low-maintenance outdoor space that tenants can enjoy with minimal upkeep.
6. Provide Secure Storage
Many tenants need secure storage for items like bikes, sports equipment, or garden furniture. Adding a robust, lockable shed or secure garage can be highly attractive to tenants and keep demand for your rental high.
Consider investing in storage options and regularly maintaining them to ensure they stay in good condition.
If you're a landlord looking to advertise your property, I Am The Agent can help with rental packages starting from just £65. Reach out to us today to get started!
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