Best in Class
Lettings Director, Mollie Swallow says in-house advice will make your rental investment work for you in all the right ways
Whilst the market continues to be flooded with tenants and stock levels remain low, you might think now is not the time to do some much-needed work to your investment. This could not be further from the truth, as we have learned recently from some of our landlords.
There may well be a lack of good quality rental properties, but this has not stopped tenants wanting the most for their money in these increasingly difficult times. If your property is not up to scratch, we have known some tenants who would prefer to stay in hotels rather than splash out on renting a property where the standard and presentation simply doesn’t match the rent being asked.
Lurot Brand’s Property Management department, headed up by Dawn Sparks, a bespoke service to allow landlords to achieve the best income returns by making small, but significant changes to their rental investments. By asking Dawn and I to come to your property, we can advise on changes that we know will set your property apart from the rental competition on the market, while keeping within a strict budget.
A great example of what we can do is in Knightsbridge, where we suggested some successful renovations. The house was bought in 2019 by an investment landlord. They had chosen not to visit the property upon purchase and went solely on the agents’ recommendations. The house was tired, and some parts had not been touched for a while, which gave it quite an old and dated feel. Luckily, the bathrooms and kitchen were fairly new and in great condition. So, when the landlords approached us to take over, we knew exactly how to get this house up to scratch and looking its best.
We obtained quotes from three different trusted renovation companies we use regularly and gave our recommendations for improvements to the landlord. In this instance, it was painting, replacing carpets for wooden floors, changing the handles, switches and plug sockets and replacing some of the outdated, soft furnishings for something with a wider appeal. The landlord agreed to our suggestions, and we were able to do the work well within the budget provided.
The positive outcome is that this property is now being marketed for double the amount it had been previously. Our landlord client is extremely happy with the newly presented property and offers have been flooding in from prospective tenants. If you wish to speak with Dawn or me about how to make the most of your rental investment, please do not hesitate to give us a call. Our vast knowledge of mews along with our Prime Central market experience means we can ensure you won’t waste time, or money on the wrong details, but make a big impact on a small budget that will maximise the appeal and profitability of your property investment.