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How to Add Value to Your Rental Property

  • 3 weeks ago
  • 0

If you own a rental property in Cheltenham then you might be wondering how to add some value to it in order to maximise your rental income and provide your tenants with a great place to live.

There are lots of ways to work on your rental property so that you and your tenants get the most out of it, so here are just five of our favourite value-adding improvements.

Renovate the kitchen

As the heart of the home and also the room which, alongside the bathroom, gets the most use and wear, your rental’s kitchen is always a priority.

Aim for spacious, modern and energy efficient to attract or retain tenants. If it’s looking a bit tired and you can afford to go the whole hog, rip it all out and start again, or at least bring in some new appliances and countertops to freshen it all up.

Redo the bathroom

Bathroom renovations are usually cheaper and easier than kitchen makeovers as you’re usually only replacing the sink, toilet, bath and shower.

It makes all the difference though, as the bathroom is subject to a lot of wear and tear and it’s also a place your tenants probably use as a sanctuary. If you’re on a tight budget, replace the shower head and add some more storage space and if you can afford a bit more, change the tiling and floor. Or go all out and create an entirely new space altogether.

Add an off-road parking space

Rental properties in central Cheltenham with off-road parking are very attractive indeed. If your front garden doesn’t get much light or action then it might be better off as a parking space for your tenants.

You may need to pave your garden over, but it’ll be well worth the investment as lots of tenants will pay extra for the convenience and security of their own dedicated parking space.

Freshen up your floors

Flooring takes quite a beating and old threadbare carpets can be really off-putting to potential tenants. While installing hardwood floors might seem like quite the expense, these floors look much more attractive and can also withstand lots of footfall, as well as spills and even scratches.

Make your garden into a little paradise

We all know that Cheltenham isn’t short of green spaces, being as it is on the edge of the Cotswolds, but your tenants may well want a little piece of paradise to call their own.

Whatever the size of your garden, you can turn it into a place your tenants will enjoy hanging out and playing in. Focus on creating a functional garden with some low-maintenance plants and shrubs so that your tenants have a relaxing outdoor space to chill in without worrying too much about weeding.

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