How to Increase the Rental Value of your Property

As a landlord in Peterborough, you are likely to be aware of the current cost-of-living crisis. This had led to many buy-to-let landlords looking to see how they can increase the value of their rental properties. 

There are lots of ways that you can increase the rental value of your property. The key thing to remember is how to attract tenants who will pay the most for a property. Once you know that, you can work on increasing the value of your individual rented properties.

Firstly, you need to think about where your rental property is located. Is it located near a university, a good primary school, a large business park or a hospital for example. Based on the location, you will have a different target audience for your property. If it’s near a good primary school for example, this may be ideal for families looking to move into the catchment areas. Similarly, rented properties near a university may be ideal for students.

When you know the sort of tenants that will like rented homes in those areas, you can create a property that they will like. For example, students will want their own spaces, multiple bathrooms and communal areas. How can you make your property meet these needs? When you can, you will be able to increase the rental value of your property as the property offers exactly what the tenants need.

There are general ways that you can increase the rental value of your property too. These ways can be used on all properties and will help you gain more rent for your properties in Peterborough. 

You could give the property a new paint job for example. It’s not a cheap fix, but a bathroom or kitchen upgrade will also really help boost the value of your rental property. This will not only look more attractive to tenants, but it will enable you to put the rent up as well as getting the property occupied sooner too.

It’s a good idea to think about the added extras that you can offer as a landlord too. Things like state-of-the-art appliances, security systems or high-end décor could all be things that make a tenant want to pay more rent for a property.

If you are looking to get more rent from your properties, call our rental specialists. We can recommend investments that you can make to improve your property or manage your rented properties in Peterborough for you.