Compliance in property management is a dynamic and ongoing process. With ever-changing legislation, landlords and property managers must stay vigilant to remain compliant, particularly regarding property inventory. This blog takes a deep dive into property inventory legislation, highlighting the pivotal role of No Letting Go in navigating the complex landscape of legal compliance.

Understanding Property Inventory Legislation

The Significance of Inventory Management
Property inventory management isn’t just a formality; it’s a legal and logistical necessity. It involves creating a detailed report that lists the contents and condition of the property at the start and end of a tenancy. The importance of property inventory stems from various laws and regulations that aim to protect the rights and obligations of both landlords and tenants.

Key Legal Frameworks Affecting Inventory
Housing Act 2004: This act introduced the Tenancy Deposit Scheme (TDS), which requires detailed inventory records to solve any disputes regarding deposit deductions.
Landlord and Tenant Act 1985: This act mandates that properties must be fit for habitation, which implies a need for a thorough inventory to establish the initial condition of the property.
Deregulation Act 2015: This legislation further emphasizes the need for proper inventory checks to provide evidence should a landlord need to serve a Section 21 eviction notice.

The Role of Property Inventories in Dispute Resolution
Disputes over property conditions are not uncommon at the end of tenancy agreements. A comprehensive inventory provides an unbiased baseline that helps resolve these disputes amicably. Without a proper inventory, landlords may find themselves unable to claim for damages or losses that occur during a tenancy.

Staying Ahead of Compliance

Regular Updates and Training
Legislation can evolve quickly, and staying compliant means staying informed. Regular training and updates are necessary to ensure property inventories meet the latest standards.

Incorporating Technological Advances
Utilising technology, like the services offered by No Letting Go, can simplify compliance. Digital inventory systems ensure accuracy, facilitate updates, and make it easier to store and retrieve information when needed.

No Letting Go’s Contribution to Compliance

Expert Inventory Services
No Letting Go specialises in providing inventory services that comply with current legislation. Our team of experts understands the intricacies of property law and can help landlords and property managers ensure their inventories are legally sound.

Technology-Driven Solutions
With No Letting Go’s inventory software, property managers can automate much of the inventory process, reducing the risk of human error and ensuring each inventory is thorough and up-to-date.

Support Through Legislative Changes
As legislation changes, No Letting Go’s services evolve to stay compliant, offering peace of mind to property managers and landlords. Our commitment to legislative compliance means that clients are always ahead of the curve.

Final Thoughts
Comprehensive property inventory management is an essential aspect of property rental compliance. It serves as a protective measure for landlords and a guarantee of fairness for tenants. As the legal landscape continues to evolve, the services provided by No Letting Go become increasingly valuable, offering expert guidance and cutting-edge solutions to ensure that property inventories are not only compliant but also serve as a robust foundation for tenancy agreements.

In the journey of rental property compliance, consider No Letting Go not just as a service provider but as a partner, one that is fully equipped to navigate the complex waters of property inventory legislation with you.

In the dynamic landscape of UK property rental, the Renters’ Reform Bill is set to introduce significant changes. With a focus on improving renters’ security and overhauling the lettings sector, landlords and letting agents must adapt to these reforms. No Letting Go is poised to assist in this transition, ensuring that properties are compliant and the rights of both tenants and landlords are upheld.

Understanding Renters’ Reform
The Renters’ Reform Bill proposes substantial adjustments to tenancy agreements, security of tenure, and the quality of rental accommodation. Key aspects include the abolition of ‘no-fault’ evictions under Section 21, an introduction of a lifetime deposit system, and a new property portal for landlords, helping to enforce higher standards.

The Role of No Letting Go

Ensuring Compliance with Updated Regulations
No Letting Go’s services are vital in helping landlords navigate these legislative changes. With professional inventory management and regular property inspections, we ensure that landlords meet their obligations under the new laws.

Professional Inventory Reports
Comprehensive inventory reports are more crucial than ever. These documents provide an evidence-based approach to managing tenancies, which will be vital in the case of disputes, especially with the anticipated removal of ‘no-fault’ evictions.

Regular and Thorough Property Inspections
With the government’s emphasis on the quality of rented homes, regular property inspections are key. No Letting Go’s meticulous inspections can identify maintenance issues early, ensuring properties meet the required standards and helping landlords avoid penalties.

Lifetime Deposit Scheme Readiness
The lifetime deposit system aims to make moving between properties more manageable for tenants. No Letting Go can facilitate the management of these deposits, ensuring proper documentation and transfer between tenancies, reducing administrative burdens for landlords.

Educating Landlords and Agents
Education will be a cornerstone of adapting to the Renters’ Reform Bill. No Letting Go provides guidance and advice, keeping clients informed of their new responsibilities and helping to implement best practices in property management.

Dispute Resolution
Our detailed inventory reports and evidence of property conditions serve as critical tools in resolving end-of-tenancy disputes, which may increase due to the abolition of Section 21. Our services provide landlords with the documentation needed to fairly settle any disagreements.

Embracing Technology
No Letting Go’s technology-driven services, like the DigiSign Automated Check-In, will streamline compliance with the new digital property portal, ensuring landlords can easily provide the necessary information and maintain records.

 

The Renters’ Reform Bill represents a paradigm shift in the UK’s rental sector. No Letting Go stands ready to support landlords and letting agents through this change, with a suite of services designed to maintain property standards, simplify compliance, and support the well-being of tenants. As the rental landscape evolves, partnering with No Letting Go means staying ahead in providing safe, compliant, and well-managed rental properties.

The national news is obsessed with the UK property market!
There is no doubt it is a favourite headliner for most media outlets, and let’s face it, the UK public is obsessed with it too! However, it is specifically the residential rental sector that has been under the media microscope over the last 18 months because it has been booming – it literally burst back into life post-pandemic and hasn’t stopped.

Over the last 20 years, demand for rental homes has seen strong, steady growth. The number of households privately renting has more than doubled over the past two decades, according to the 2021 Census, to just over 5 million. However, the current surge in demand started in 2021 with no signs of slowing, hence the intense media interest.

Much media reporting is often akin to storytelling with a determination to have a “goodie” and a “badie”, and as such, there have been many press headlines with opposing views on who are the winners and losers of the current boom, most commonly with landlords in one corner and tenants in the other. Of course, the truth is seldom this polarised, and in reality, these stakeholders have both experienced advantages and disadvantages in the current climate based on individual circumstances. However, rather than delve into this, I want to examine what is causing this current boom and how long it might last.

1. Firstly, the lack of decent, affordable social homes has pushed people into private renting, contributing to the long-term growth in demand. Added to this is the more recent house price inflation making it harder for first-time buyers and those on lower incomes to transition from renting to home ownership.
Of course, the sudden increases in the cost of living has further exasperated this.

2. Even though owning a property outright is the goal for 80% of people, renting is the best option for many ranging from students to digital nomads to those with adverse credit and single living.

Renting is also a relatively short-term commitment for tenants, providing the flexibility to change locations, increase/decrease property size, and have a garden/no garden as circumstances change or evolve.

3. Another key driver for the recent demand is the strength of the jobs market (over 1 million vacancies, according to the latest ONS data). In 2021 the UK government conducted a major shakeup of visa rules to attract skilled workers and more students from abroad. The UK has seen record-high immigration, further boosted by support schemes for Ukraine and a specific visa scheme for British citizens looking to leave Hong Kong.

4. While tenant demand has increased, the number of privately rented homes remains largely static. In 2021, there were 5.5m private rented homes in Great Britain – only slightly more than the 5.4m total in 2016. This demand has enabled rental prices to increase in line with the additional cost of mortgages for landlords, which, in turn, has increased competition amongst tenants seeking rental homes.

(Graph supplied by property portal Zoopla)

The future outlook

While the availability of privately rented homes remains fairly static, ongoing completions of Build to Rent schemes in the corporate sector will add supply in the mid to upper part of the market, which will assist with the recent imbalance between demand and supply with rental properties. Some extra supply, combined with the increase in the cost of living, is expected to see the pace of rent increases slow over the next few years but will still remain above the 5-year growth average.

The long-term growth fundamentals, however, remain unchanged with less social housing, more challenging criteria to obtain a mortgage and a greater desire for more flexible living in the short to medium term.  

What does this mean for No Letting Go Franchisees into the future

No Letting Go is a specialist inventory management supplier to the lettings market, servicing property managers, social housing, landlords and institutional investors. We have experienced record levels of growth in sales over the last two years, and the outlook remains strong for our network of franchisees.

It is unlikely the dynamics driving the current boom for rental homes will recede in the coming years. 

Although we do anticipate the pace of rental growth will slow in some locations to more sustainable levels in the face of cost-of-living increases and affordability.

This represents a great economic forecast for anyone considering buying a franchise in the residential rental sector.

Justine Tomlinson
Head of Operations No Letting Go

Every landlord wants to complete the end-of-tenancy process as smoothly and efficiently as possible. However, it’s common for disputes to arise surrounding the property’s condition after tenants move out. As well as causing stress for both parties, such disagreements can lead to unfair financial losses. So, can landlords protect themselves and mitigate the chances of a dispute arising?

As readers are probably well aware, landlords and letting agents must hold tenants’ deposits in a government-approved tenancy deposit protection scheme. Such deposits may be used to cover costs for damage or maintenance issues at the end of a tenancy, provided landlords can prove their tenants have caused the damage or failed to live up to their maintenance obligations. This is where property inventories come in handy.

How do property inventories protect landlords (and tenants)?

Property inventories provide detailed and concrete evidence of a rental property’s condition. By providing tenants with an inventory at the beginning of their lease, landlords offer clear guidelines detailing how the property should be returned when they move out. As well as increasing the chances that tenants leave the property how they found it, an inventory will decrease the risk of disputes, saving both parties time and money.

Property inventories typically include high-resolution, digitally dated photographs and detailed written reports that log the state of your rental property. If the actions of your tenants have caused financial losses, these reports make it relatively easy to evidence your reasons for withholding some or all of their deposit. Some of the most common reasons for withholding funds include:

  • Cleaning expenses: Many landlords ensure their properties are professionally cleaned before tenants move in. If tenants fail to return the property as they found it, landlords may deduct professional cleaning costs from the deposit.
  • Rental arrears and unpaid bills: Landlords may withhold the costs of unpaid rent or bills related to the property (e.g., gas and electricity bills).
  • Missing items: Landlords may deduct the costs of unreturned inventory items.
  • Damage: Landlords may withhold the cover of damages that amount to more than normal wear and tear. Examples of damage could include holes in walls, large carpet stains, broken appliances, or broken chairs.
  • Lack of upkeep: Some contracts require tenants to maintain a garden or another element of the property. If they do not live up to these responsibilities, landlords may withhold some of their deposit to cover costs.Of course, as well as providing your tenants with an inventory, you should remember to provide clear guidelines about returning the property at the end of the tenancy. As well as improving your relationship with tenants, such clarity will mitigate the chances of unpleasant disputes.

    Keen to avoid a security deposit dispute? Choose No Letting Go to handle your property inventory!

    As you can see, producing a detailed property inventory will help to protect your finances and nurture better relationships with tenants. Of course, producing such an inventory can be time-consuming and a little confusing, particularly given the amount of complex legislation landlords must follow. Fortunately, No Letting Go is here to help. We offer detailed pre-, mid-, and end-of-tenancy inventory reports to make your job as easy as possible. Get in touch today to find out more!

 

If you are involved in leasing commercial properties, it’s essential to be aware of recent changes in Energy Performance Certificate (EPC) regulations. On 1st April 2023, the government introduced requirements for landlords to produce EPC ratings of band ‘E’ or better for their commercial properties. Such standards are designed to help the country achieve net zero emissions by 2050, with failure to comply potentially costing you up to £150,000 in fines.

To help you navigate the world of EPC assessments and avoid nasty surprises, we’ve compiled a quick guide to ensuring your property meets the latest requirements.

First things first: Establish a list of actions.

If you still need to get around to assessing the new EPC regulations, don’t fret. Here are a few steps to follow before you take any actions:

  • Review your commercial property portfolio: What are the current EPC ratings for your properties? If they’re better than ‘E’, you don’t have to take any immediate action. If any properties fall below standard, check whether you have the right to access and undertake any remedial work according to your lease. You should also check whether the building is exempt from the new rules (see below for more details).
  • If necessary, book an EPC assessment: If you haven’t ordered an EPC assessment in some time, you should book an inspection. As well as providing an up-to-date evaluation of the property’s energy efficiency, an assessor will provide recommendations about the kinds of work that will improve your property’s rating.
  • Address necessary works: Once you’ve established what changes you need to make, check your lease(s) carefully to establish whether you or the tenant(s) are responsible for covering the cost of the works. Then, you can start conversations with tenants about when and how you will undertake the work.
  • Consider future-proofing other properties: If your properties are rated ‘E’ or only slightly higher, it’s worth noting that there are proposals in the works to raise minimum standards to band ‘C’ by 2027 and ‘B’ by 2030. You could save time, effort, and money by making adjustments now.

Are there any exemptions for the new requirements?

Yes! While the rules are relevant for all rented commercial premises, there are limitations surrounding the practicality and cost of work. Here are legitimate exemptions to note:

  • Consent issues – i.e., if you’re unable to obtain consent to carry out the works from a tenant or third party.
  • Wall installation problems – you may be exempt if wall installations would threaten the structural integrity of the property.
  • You’re a new landlord – new landlords may be granted six-month exemptions in certain circumstances.
  • The property remains below ‘E’ despite remedial work – i.e. if you’ve made recommended changes, but the property remains below standards.
  • Seven-year payback rules – i.e., if the cost of recommended improvements would be higher than the savings made on energy bills over seven years.
  • Changes would devalue the property – if works would damage your property or devalue it by 5% or more, you can apply for an exemption.

Please note that exemptions are not automatically applied, so you must register your exemption with the PRS exemptions register before starting a new tenancy. Approved exemptions are valid for five years and cannot be transferred to new property landlords.

Need help with inventory management due to EPC rating regulations? No Letting Go is here to help.

If you’re feeling a little disoriented by new rules and regulations, we don’t blame you. Navigating the commercial property sector can be confusing and stressful. Fortunately, No Letting Go is here to handle the complexities of inventory management. Get in touch today to find out more.

 

As a landlord or letting agent, if you’re worried about securing money from deposits to repair any damage to your property caused by tenants, you should be looking at how robust your inventory is because it can play a crucial role in resolving disputes.

What is a property inventory?
A property inventory, also known as a Schedule of Condition, is used to record the condition of a rental property.

The inventory should be prepared before a new tenancy, and the tenant and landlord, or agent, can use the inventory at the start of the tenancy to go around the property comparing the notes to the actual condition of the property and ensuring they are in agreement regarding the property’s condition.

At the end of the tenancy, the condition of the property can be reviewed again, and a comparison made between its current state and the initial inventory, identifying any damage that may have occurred during the tenancy.

The key to an inventory is that it provides proof of the agreement between the tenant and the letting agent or landlord about the state of the property at the beginning of the tenancy. The tenant should always review the completed inventory and then sign to confirm their agreement with it and understand their responsibility to return it in a fit and proper state.

What does an inventory contain?
An inventory needs to be thorough, containing details of the condition of each room and including all fixtures, fittings and decorations, noting existing damage, such as stains, wear and tear, or broken items.

As well as a written record, an inventory needs to contain photos of each room and photographic evidence of any specific points of interest that clearly shows the detail and extent of the damage.

How do inventories resolve disputes?
The detailed and robust recording of a property’s state means that if any disputes arise at the end of a tenancy regarding its state, it can be used to make a judgement on any claim.

If the landlord attempts to withhold a tenant’s deposit, or part of that deposit, to pay for repairs to the property, an adjudication process must be entered into as part of the deposit protection scheme holding the tenant’s deposit.

Adjudicators will make their decisions based on the evidence presented to them on documents such as the inventory, tenancy agreement, check-in and check-out reports and receipts or estimates for work needed on the property. They don’t ask for any further evidence, talk to the parties concerned or visit the property, which makes the record-keeping in inventories critical, to avoid the matter coming down to one word against another.

How does this benefit parties in dispute?
Clear evidence of the changing state of a property makes it quicker to resolve disputes, and the outcomes are then binding on all parties.

Quickly resolved disputes also mean properties aren’t left empty between tenancies, protecting the landlord’s income. It may also be a condition of the landlord’s insurance to complete an inventory.

So, to protect your business income, contact No Letting Go to learn more about our Inventory Services.

No Letting Go.
If you would like to discuss how our local support or national network at No Letting Go could become your inventory partner, streamlining costs, reducing your workload and protecting you in the case of a dispute, then contact No Letting Go today.

 

Most landlords see their properties as an investment and take care of them accordingly, ensuring they provide a good place for tenants to live. Still, for those less scrupulous landlords, the Homes (Fitness for Human Habitation) Act holds them to account.

What is the Homes (Fitness for Human Habitation) Act, 2018?
This Act is designed to ensure that residential rented properties are “fit for human habitation”, meaning they are “safe, healthy and free from anything that could cause serious harm”. It came into force on 20 March 2019 and applies from the start and for the full duration of a tenancy.

Who does the act apply to?
The Act applies to tenants who live in England in social or privately rented properties, no matter the type of property, but only for tenancies shorter than seven years.

What does it mean for landlords?
Landlords who aren’t keeping their properties to the required standards will need to take action to meet these standards. If they don’t resolve issues in a reasonable time, tenants can take their landlord to court, which can make the landlord carry out the required repairs, resolve any health and safety issues or require the landlord to pay compensation to the tenant.

This means tenants no longer need to rely on their council to prosecute a landlord on their behalf.

What kind of issues are covered?
Several issues can lead to a property falling below standard, making it “not reasonably suitable for occupation in that condition”:

  • Repairs have been neglected, and the property is in poor condition
  • Serious damp issues
  • The internal layout of the property isn’t safe for residents
  • A lack of natural lighting
  • Ventilation is insufficient
  • There’s no proper supply of hot and cold water
  • Drainage and sanitation don’t meet standards
  • The property is structurally unstable
  • A lack of facilities for preparing and cooking food and for the disposal of wastewater
  • A hazard covered by the Housing Health and Safety (England) Regulations 2005 is present

What isn’t the landlord liable for?
This Act does not require a property to be kept in perfect condition; there will be wear and tear during a tenancy, but issues that make the property unfit for human habitation do need to be promptly addressed. Problems you aren’t responsible for as a landlord include:

  • Defects caused by the tenant through their negligence or intentionally irresponsible behaviour
  • Rebuilding a property if destroyed or damaged by fire, flood or storms
  • Repairing a tenant’s personal property not included in the inventory
  • Planned modifications for which planning permission is refused

Are you on top of your property maintenance?
Keeping on top of your property maintenance through regular checks ensures your property will always meet the required standards and remains a safe and pleasant living environment. When repairs or damage are left unattended, costs can quickly escalate, and the situation deteriorates.

Talking to No Letting Go about our range of property management services can help landlords and agents put in place the systems to care for their property, offering peace of mind all around.

No Letting Go.
If you would like to discuss how our local support or national network at No Letting Go could become your inventory partner, streamline your costs, reduce your workload and ensure that your rented properties remain safe and well-maintained, then contact No Letting Go today.

 

In response to the Grenfell Tower tragedy, the Fire Safety (England) Regulations 2022 came into force on the 23rd of January 2023.

If you have responsibility for managing multiple occupancy residencies, it’s important that you understand your new duties under these regulations to ensure that you meet all your obligations.

Where do the new regulations apply?

The Fire Safety (England) Regulations 2022 apply to all non-domestic parts of multi-occupied residential buildings and all houses that have been converted into two flats or a house with multiple occupations.

What is now required under the Fire Safety (England) Regulations 2022?

While the Fire Safety Order 2005 already requires the responsible person to undertake and regularly review their fire risk assessment of the building and maintain precautions that manage the risk of fire, the Fire Safety (England) Regulations 2022 goes further.

In all multi-occupied residential buildings with two or more sets of domestic premises, there will be a requirement to:

  • Provide relevant fire safety instructions to residents, which will include instructions on how to report a fire and any other instruction which sets out what a resident must do once a fire has started based on the evacuation strategy of the building.
  • Provide residents with information relating to the importance of fire doors for fire safety, such as keeping them closed when not in use, not tampering with self-closing devices and reporting any faults or damages immediately.
  • Fire safety information must be provided to all residents every 12 months, and new residents must receive the information as soon as reasonably practicable after they have moved in.

In residential buildings with storeys over 11 metres, but under 18 metres, in height, there will be a further requirement to undertake annual checks of apartment entrance doors and quarterly checks of all fire doors in common areas.

For high-rise residential buildings (containing two or more sets of domestic premises that are at least 18 metres above ground level or with at least seven storeys), additional information must be provided to Fire and Rescue Services to help them to plan and, if needed, provide an effective operational response, such as:

  • Keeping up-to-date, electronic building floor plans.
  • Placing a hard copy of these plans, along with a single-page building plan identifying key firefighting equipment, in a secure information box on site.
  • Providing information about the design and materials of a high-rise building’s external wall system and informing the Fire and Rescue Service of any material changes to these walls.
  • Provide information in relation to the level of risk that the design and materials of the external wall structure give rise to and any mitigating steps taken.
  • Undertaking monthly checks on the operation of lifts intended for use by firefighters and on evacuation lifts and checking the functionality of other key pieces of firefighting equipment.
  • Reporting any defective lifts of equipment to the local Fire and Rescue Service as soon as possible after detection if the fault can’t be fixed within 24 hours.
  • Installing and maintaining a secure information box in the building which must contain the name and contact details of the responsible person and hard copies of the building floor plans.
  • Fitting signage visible in low light or smoky conditions that identifies flat and floor numbers in the stairwells of relevant buildings.
  • Keeping a record of the outcome of checks, which must also be made available to residents.

Do you need to ensure that your property’s fire safety measures meet the new standard?

Fire safety is always a key priority for anyone responsible for rental properties, and breaches of the Fire Safety Order can be subject to an enforcement notice or prosecution.

The Estate and Block Management Services offered by No Letting Go ensures that you are always meeting your obligations, so don’t hesitate to contact us if you need support to ensure that your property and your tenants are safer from fire.

No Letting Go
If you would like to discuss how our local support or national network at No Letting Go could become your inventory partner, streamlining your cost and reducing your workload, then contact No Letting Go today.

 

As a landlord or letting agent, check-in and check-out inventory reports are an integral part of your ongoing property management. Here’s how they differ and why they also work so well together.

What is a check-in report?
At the beginning of a tenancy, a check-in report is completed with the incoming tenants. This is a checklist of key points that can be tailored to the specific needs of the property and will assess each item on the checklist so that there’s a clear and concise record of the property’s condition – from day one.

Check-in reports can be completed with new tenants as you welcome them to the property. Alternatively, at No Letting Go, we also offer an automated check-in and signing service.

Why do you need a check-in report?
Completing a check-in with new tenants is a great way to start off a tenancy on a good footing. Right from the beginning, you and your tenants will have an agreement on the current state of the property and a clear understanding of the expectations of how that property should be maintained.

What is a check-out report?
Completed at the end of the tenancy, the check-out report ensures the property is returned to the condition it was when your tenants first moved in.

A check-out report entails a thorough inspection of the property so that any actions needed to return the property to an acceptable state can be highlighted. It will cover aspects such as cleanliness, contents, any damage and the property’s overall condition.

The benefits of a check-out report?
As a check-out report assesses the state of the property at the end of a tenancy, it enables parties to quickly determine what needs to be done before a tenant can ensure their deposit is returned.

In addition to providing clarity to tenants, check-out reports will create a smooth transition between tenants and can minimise the maintenance needed between lettings, reducing the time the property is left vacant.

The combined value of check-in and check-out reports
Check-in and check-out reports bookend a tenancy and provide a comprehensive audit trail so that changes to the property during the tenancy are clearly flagged. Because of this, they are invaluable in preventing or resolving disputes between landlords and tenants over who is responsible for damages and repairs.

Why choose No Letting Go for your check-in and check-out reports?
Regulations relating to rental properties change regularly. Completing one of our reports is an efficient way to ensure that you are fully compliant and are looking after the investment you’ve made in your property.

And because our reports are so comprehensive, we guarantee that properties are protected by our reports, with only 0.01% of cases ending up in adjudication.

Using our reports saves landlords and letting agents time and money as part of a very flexible, comprehensive service, with the added benefit of our DigiSign automated signing service.

No Letting Go
If you would like to discuss how our local support or national network at No Letting Go could become your inventory partner with a fast, efficient and cost-effective check-in and check-out report inventory service, then contact No Letting Go today.

 

When it comes down to your rental property, sometimes you need to spend money to make money. Keeping your property well maintained is a good investment because of the increase in rental value it can deliver.

But where should landlords focus when upgrading their property to boost its rental return?

Why Upgrade your Rental property?

Any upgrade to a rental property should consider the cost of the upgrade in terms of ROI. Landlords need to look for simple and cost-effective ways to upgrade their property in a way that has a meaningful impact on the minds of potential tenants.

There are many changes a landlord can make to their property. Still, unless it protects the long-term condition of the property or works to attract tenants to pay the best rates possible, landlords should question whether it really is necessary.

As a landlord, consider the maximum rental fee you can achieve for the location and make investments that give you the best chance of achieving that, remembering not to price your property out of the market.

How to Upgrade your Property and Increase your Rental Return

Some simple yet effective ways that you can boost your property include:

  •  Give it curb appeal: Make a good first impression to give a viewer the sense that the property is worth looking at and is being looked after. A painted front door, some tended plant pots, security lights and cut lawn and hedges can make all the difference.
  • A fresh lick of paint: A new coat of paint in neutral colours will make a property look fresh and clean. Keeping colours neutral appeals to a broader spectrum of people.
  • Install practical flooring: Carpets may be cosy, but they get dirty quickly and are harder to maintain to keep looking tidy. Wood or laminate floors are easier to keep clean and are hard-wearing.
  • Remove tired furniture: Broken or worn furniture should be replaced to keep the property’s overall look well-maintained.
  • Upgrade the kitchen: It may seem like a major investment, but an attractive kitchen is a big attraction. Choose a style that won’t age and is practical. If a whole new kitchen is too expensive, you could replace the cupboard doors or worktops.
  • Upgrade the bathroom: A tired and unkempt bathroom can be a turnoff for tenants, so it’s worth ensuring that it’s kept fresh looking and well-maintained.
  • Maintain the garden: Outdoor spaces are treasured, and tenants pay a premium to have one. Keep the space low maintenance and well-kept, and you will benefit from the investment.

Taking Simple Steps

A few simple changes can significantly impact the rental value you can achieve. They also ensure that your property is rental-ready and minimises inter-tenancy downtime.

It’s also important to consider the demographic of the people you are most likely to rent to and make changes that appeal to them most.

No Letting Go

Ensuring that your property is always rental-ready and staying on top of maintenance at all times can be a continuous time commitment.

If you would like to discuss how No Letting Go’s local support or national network could become your rental property inspection and inventory partner, streamlining costs and reducing your workload, then contact No Letting Go today.