Devon Property Management Company

Top Tips for Landlords – How do you get the best ROI?

Montagu South West

Thursday, June 18, 2015

Becoming a landlord as a profession is becoming increasingly popular as Britain's young professionals take a shift towards renting for longer periods of time. So how can you make the most of your properties? With our experience in maintenance and property, our experts can help.

Most of our clients, from our maintenance and refurbishment services in Central London, are either large commercial firms or landlords with many properties. We know what works to decrease void periods and increase Return on Investment.

Know your tenants
Who are you renting your property to? Young professionals, students, or families? They all have different needs and you must align your offering accordingly. Will you present your property as fully furnished or an empty space? If it is fully furnished, your choice of furniture and fittings will influence who takes the property.

Your property will benefit from a tenant that takes a long lease and will be unwilling to uproot at short notice. In this respect families are a very good option. Corporate clients too, will provide financial security.

Maintenance is key
A well maintained, good looking property will command higher rent. Making sure that there is a good finish throughout, that all amenities work correctly and that you create the right feel when your prospective tenants view the property will also help you make the most money from your apartment or house.

For landlords with many properties, a regular maintenance service can help you with these matters. The service ensures that the property is always regularly inspected so problems are dealt with as soon, or even before, they cause any serious damage. This is especially true with period properties. Older buildings have an increased risk of damp, leaks, and so on. Investing in a professional maintenance firm such as Montagu will ensure that you have both a proactive and reactive approach to maintenance.

Keep it clean
It may be worth investing in a cleaning and gardening service to ensure that your property stays in the best condition. It is also an added benefit to ensure good relationships with tenants. Another advantage of having a regular team of visitors to your property that you can trust, is notifying you of issues before they become significant costly problems, such a minor leaks or unruly tenants.

Keep it safe
Do all of your appliances meet safety regulations? It is not worth taking the risk, so ensure that everything, including furniture and fittings meet current safety regulations. It is important that your preferred maintenance suppliers and tradesmen are also fully qualified. At Montagu, we insist on relevant qualifications for our staff where applicable – all our plumbers are CORGI / Gas Safe registered.

To find out more about how Montagu can help you with your property and tenants, contact us for a free estimate.