When the rental income is highest possible, you will achieve maximum rental yield. If rents are low or the property is empty for several weeks, this will reduce the rental value. These actions will enable the landlord to charge maximum rental rates and encourage tenants to stay longer.
Basics are not enough. Make them better
Rental properties are not known for their beauty. It was fine when tenants only stayed for a few months, but now, they tend to stay for two years, and expect more. Renting out a property is one of the easiest ways for landlords to increase their income. The use of neutral colours, durable furniture rather than simple pieces, an efficient heating system, and making the best of outdoor spaces will help to attract and maintain tenants. For Letting Agents Bridgwater, visit https://www.sykesmoore.co.uk/lettings/letting-agent/
The kitchen and bathroom
Kitchens and bathrooms that are well-maintained and attractive will attract tenants who are willing to pay a premium rent. They will also encourage them to remain, which reduces re-letting expenses and possible void periods.
Renting a property means that the kitchen and bathroom will become worn and shabby more quickly. This will require more frequent refurbishment and replacement than if you were renting a home.
Add another bedroom
Addition of an extra bedroom will increase your rental yield. Add a loft to your home for an extra bedroom. If you have enough living space in your home, convert one of the rooms into a bedroom.
4 Target niche markets
If you do a thorough search of the local rental market, you may find niche groups of tenants willing to pay more for certain amenities.
Pet owners are one of the easiest niche groups to accommodate. The majority of dog and cat owners are willing to pay more rent in order to be able to bring their pets. Some landlords do believe that pets are more likely to cause damage, and require more repairs and cleaning costs than the extra income they generate.