Maximising Your Rental Return

While central London lettings properties are always going to be popular with applicants there is always something that can be done by the homeowner in order to achieve the maximum rent for their property. West End and Clerkenwell have a great deal of experience within the lettings market and know what appeals to the different types of tenants that come to the area. A well-presented property is far more likely to achieve the correct asking price if not more so, as one of the first points of contact a tenant will have with your property is online, good pictures are paramount. A tenant will want to see somewhere they could live, not somewhere that looks as though it has been lived in. In order to achieve the maximum asking price for your property, certain measures must be taken. Winkworth West End and Clerkenwell have been working with central London tenants for over twenty years and we know what can delay a transaction. We would advise all landlords to think carefully about the way they present their property. While most landlords will make sure their properties are tidy before a viewing, it is crucial that the property looks clean, in bathrooms this means that grouting must be filled in, there should be no evidence of damp or mould and all surfaces, all steel in the bathroom such as showerheads and taps should be shining, with no evidence of limescale. All appliances in the kitchen should be immaculate, no one wants to view a property that has evidence of other people living in the property, this includes clearing away any debris such as washing up liquid, empty bottles and soap from the surfaces. The cooker should be scoured and properly cleared of grease so that the usual evidence after cooking is not visible. A good kitchen is something that is important when choosing a place to live. No one wants to live in a property which has layers of grease in the oven either. There is bound to be evidence of previous tenants and it is your duty to ensure that the flat looks as new as possible before viewings or photography. Make sure all beds are made and clutter is removing from sight. Any décor that looks faded should be updated and repainted if need be. Furniture that is stained will need to be replaced and cleaned as do any carpets or other furnishings. When it comes to décor simplicity is key. While different types of tenant will have different requirements when it comes to furnishings, most people will be looking for something that is updated, fashionable and modern, without being styled too particularly to someone else’s tastes. Remember that any money spent during preparing your property, i.e having curtains and carpets cleaned or updated is well worth it when you achieve optimum rent and a quick tenancy exchange, rather than allowing your property to wait for a tenant that is willing to overlook flaws. It helps to know what types of tenant you will be targeting. There are several different types that are looking for residence in central London, primarily: Company Lets Many company lets are for convenience and will require somewhere fully furnished and recently updated. Many company lets will be looking for security, efficiency and a property that is easy to maintain. Professionals Professionals looking to rent a property in central London will be expecting a property that is convenient and at least partly furnished with modern décor. Families A family will be likely to expect somewhere easy to maintain with some outdoor space but will be able to bring their own furniture with them so an unfurnished property with space is ideal. Our Lettings team are experts in tenancies and what makes your target audience tick. If you would like any advice on how to best prepare your property for your ideal tenant call us now on 020 7 467 5770.