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Seven tips for securing the best tenants and maximising yield

Seven tips for securing the best tenants and maximising yield

In this month’s guest blog, the team at Marsh & Parsons Balham provide seven top tips to those letting out their properties, to help secure the best tenants and maximise rental yield.


When it comes to letting out your property in Balham or elsewhere, the last thing you want to deal with is a tricky tenant. Settled families and working professionals generally make the best tenants and are discerning in their searches for the ‘perfect’ property. So, it goes without saying that presenting your property in the best light will attract higher calibre tenants, who will pay the best market rate for your investment and cause you less hassle down the line.

Below are the seven biggest property turn-offs, according to renters, that Marsh & Parsons encourage landlords to consider in preparation for marketing their property.

 

  1. Stay on top of your property maintenance

You don’t want a potential tenant to be put off by visible signs of poor property maintenance. If that kitchen cupboard door is hanging off or some light bulbs are broken, get these things fixed before a viewing. If your property is already tenanted, arrange an interim inspection before re-marketing to identify any issues that current occupants have not raised.

 

  1.  Make sure the property smells pleasant and fresh

You don’t have to bake a fresh batch of biscuits before a viewing, but a damp smelling property is very off-putting to possible tenants. Our sense of smell is directly linked to our ‘emotional behaviour and memory’, so create an excellent first impression of your property. Ensure ventilation is apt, invest in diffusers, plug-in air fresheners or scented candles and, if possible, put some flowers around the house.

  1. Check fixtures are working, and outside areas are well lit

Although the days are getting longer now, in the winter months, adequate lighting inside and outside is a must. Faulty or non-existent exterior lights can make prospective tenants feel unsafe; consider installing one or fix any broken lights, so tenants light up when they come for a viewing. The inside of your property can feel cold and unwelcoming if lighting is broken or dim, so ‘let there be light’ inside and out.

  1. Spruce up your property, so it’s spotless

Nobody likes to walk into a property to see it filled with dust and cobwebs, let alone mould and damp. Research conducted by Marsh & Parsons has shown that 43% of tenants were put off a property by damp and 49% by dirt. This can easily be avoided, so make sure that you pay particular attention to common areas such as bathrooms: apply anti-fungal wash to surfaces and use a specialist paint to stop it coming back. To get rid of those pesky dark stains around bathroom sealants, use a mould spray, and replace silicone seals (particularly if broken) to prevent any issues in the future.

 

  1. Go with a neutral colour scheme

You might like all things bright, but your future tenant will probably prefer to live in a more neutral space. Research has shown that 27% of tenants wouldn’t rent a property with brightly coloured walls, and 26% said the same about bright or patterned carpets. Scandinavian style is trending now, so what better time to opt for a neutral colour scheme when decorating. White doesn’t have to be the only choice, grey also works well, especially alongside wooden flooring and neutral carpets.

  1. Have carpets professionally cleaned to remove stains

A turn-off on par with a bad smell is carpet stains (even if these carpets are clean.) It is best to avoid installing pale carpets in rental properties as they are easily marked and harder to clean. If the carpet stains are small, have them professionally cleaned. If the situation is much worse, an investment in having them replaced will often be paid back in the form of a better rental return. Many tenants also prefer wood or laminate flooring, which is usually easier to maintain and often cheaper to replace.

  1. Avoid clutter with smart storage solutions

Everyone knows that in London space is at a premium, so a property without enough storage space is not very appealing. If a potential tenant walks into a property to see piles of items or objects overflowing from cupboards or shelves, it will come across as much smaller than it is. This can be an issue for a currently tenanted property – ask that they store away their personal items, ensuring the space looks presentable and more spacious.

 

Following these seven tips will help showcase your property in the best light as, in the incredibly competitive London property market, it’s crucial that your property stands out. For further advice on how to best present your property, speak to expert teams from Marsh & Parsons across London or book a valuation.


Marsh & Parsons Balham is an award-winning estate agent and one of our valued Community Partners. Find them at 45 Balham Hill, SW12 9DR. Call Carys (sales) or Miles (lettings) on 020 8033 4114.

Click here to view local properties for Sale and here for Lettings.

Find out more on their website, and follow them on Twitter, Facebook and Instagram. Find out more about our Community Partners here.

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