Finding the right tenant for your property can be a difficult job, but keeping them can be even harder. Longer lets are ideal for landlords as they help reduce the costs associated with having to advertise,
Finding the right tenant for your property can be a difficult job, but keeping them can be even harder. Longer lets are ideal for landlords as they help reduce the costs associated with having to advertise, check potential tenants and fill a prope
Although offering a longer tenancy agreement is a good place to start, it won't do much if a tenant is unable to turn a house into a home. Many landlords don't want tenants to decorate a property, but this can often put tenants off from staying in the long term as they cannot make a house feel like theirs.
While there may be potential negatives to allowing tenants to splash some paint on the walls, there are a number of positives that landlords should bear in mind.
Encourages longer tenancies
Tenants are more likely to agree to a longer tenancy if they are able to decorate. Even if you have clauses in the tenancy agreement stating what they can and cannot do - such as no dark colours or drastic remodelling - letting them change some things can allow them to settle in.
If tenants are happy in a property that they have made feel like home, there is a greater chance that they will stay put for years, especially as getting onto the property ladder is difficult for many people with the current market
Maintains look of property
Redecorating can help to maintain the appearance of the property and ensure it is better looked after. While white and magnolia are often the colours of choice for landlords, these can start to get a bit grubby over time - especially if you have long-term tenants - and mean the place starts to look a bit shabby.This also means that you'll need to shell out for redecoration to get the house in good condition again, either after tenants have been there for a certain amount of time or before new tenants move in. Allowing tenants to decorate can avoid this and reduce your costs, keeping a property looking clean and modern for longer.
Damages are more likely to be repaired
As a landlord, you have to allow your tenants a bit of leeway when it comes to damage, allowing for a reasonable amount of wear and tear to a property. If tenants are not allowed to decorate, this damage can get worse over time and end up costing you more to put right.
Scratches and marks on walls may not seem like a big deal, but they can be enough to put off potential tenants, especially if they can't decorate. Allowing tenants to decorate means that they are more likely to put effort into repairing minor damage in order to maintain the look of the property. This means you'll have fewer issues to deal with and need to pay out less.
According to quotelinedirect, many tenants are happy to pay more in rent for properties that allow them to decorate. On average, they are willing to pay £150 more each year for the privilege of making a house more personal, which is good news for landlords.
Whether you charge a higher deposit with the understanding that some of it will go towards making a property neutral again at the end of the tenancy or simply increase rent slightly, it seems that tenants are happy to pay it. On top of this, they will also be putting money into the property, which could help increase its overall value.
To speak to one of our expert lettings team, call Belvoir on 0151 231 1613 or email firstname.lastname@example.org