7 HACKS to check out before buying a property to rent out
We’re delighted to bring you 7 top hacks from lettings expert Simon Greenwood, owner of Oakwood Property
This week, we’ve been helping an existing client choose there next property to add to their portfolio which they have now successfully placed an offer on, so we thought it would be a good idea to share some of the key areas when viewing houses that are going to be rented out, its important to know what to look for. This is different to viewing for yourself, there are considerations of wear and tear that go beyond a private resident, but equally, don’t be fooled thinking a magnolia box with a cheap cooker is the solution either.
Boiler – A modern combi or condensing boiler is the key here though other types, may continue plodding on, Brands can be important as low cost boilers are exactly that and parts can be expensive. You just need to be aware of the cost of changing a boiler or taking out old back boiler.
Plumbing – Fancy fittings such as pop up waste can fail, a smart but simple plug is less likely to fail and this approach extends to taps and other fittings. Do not fit low cost mixer taps because its only a rental house because you will be changing them again in 12 months. Showers are a must in the modern world and its personal preference on the electric versus mixer style shower, but ensure there is an extractor to match and a good shower screen arrangement.
Cookers – 4 ring solid plate, single cavity ovens are the lowest cost but have you ever tried living with one, pay the extra £50 for a halogen top and try to get a twin cavity if you can. Solid plate hobs corrode with water from boiling pans and need changing far more often.
Glazing – Take a good luck, double glazing has been around for a long time now and not all glazing is equal. Check the glass is not blown (mist in between) as when the sun shines, this looks awful. Its not a deal breaker though as this is cost effective to change.
Flooring – Hard flooring can wear better and can be a bonus providing it won’t get wet regularly, otherwise biscuit or medium grey carpets are probably the way to go here. I haven’t met a viewer yet who appreciated a floral carpet! If its tiles, try to see if there are any spares, as when a glass is dropped, it may not be the only think to break. The parting shot on flooring is that carpets never and I been never belong in a bathroom.
Appliances – Built in appliances seem a great addition but who will be responsible for them. Its difficult to find people who want to repair these and they cost more to buy, particularly built in fridges and freezers, so if there already there, there are ways to deal with it but don’t get carried away as they don’t necessarily add to the picture when renting out.
There are many other areas from decoration, the electrics and the garden so you really need to put some thought into it, to get the best experience after you’ve made the purchase. Advice is always free, so if you need some extra pointers, please give us a call, we love sharing the experience we have built up.
Thanks for your time
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