So you've come to Clear Lets Investments, listened to our expert advice and you're now a proud property owner.
But don't just stop there. How are you going to make that investment work even harder and allow you, the new landlord, to reap the financial rewards?
Certainly, one area you should look at, says Myra Blaik, Operations Director, Clear Group Scotland Ltd, is home improvement.
"Adding extra rooms, improving the existing decor, and even undertaking some landscaping work can add thousands to a property. But beware, it should be done with selling or renting in mind ie spending £30,000 on a new bathroom won't necessarily recoup you the same amount in a business transaction," she said. "That's why it's always best to get some expert guidance before you embark on a large-scale project.
The advice Clear Lets advocate includes:
Upgrading the outside of the property
Would a lick of paint help? Does the door buzzer work? Need to replace roof tiles? This is the first impression your prospective tenant will get and it needs to be a good one
Adding an extension to create another bedroom/larger kitchen
Space is a premium and if you have the land to do it, why not? But don't just think horizontally, you can always go upwards by adding on extra storeys.
Replacing kitchen doors and tiles
This is a far less expensive option than refitting the entire kitchen and with new worktops could make the room look as good as new
Making your property more energy efficient with a new boiler, double glazing or wall insulation
Energy efficiency is a buzz word these days, particularly with young couples, and local authorities are even giving out grants to help you convert. Definitely worth looking into
Let there be Light
Consider installing dimmer switches. These allow you to create mood and a welcoming, cosy atmosphere. If the property is already small however, a high wattage bulb can give the illusion of more room.
Redecorate
Even something as simple as cleaning and an extra coat of paint or two can boost the value and selling potential of a property. Make sure it's in neutral colours though. Decluttering will add extra space.
But a word of caution. "If you're looking at doing a big improvement programme make sure you have the necessarily permissions," added Myra, "Otherwise your insurance could be invalidated. And that's one road you really don't want to go down."
But don't just stop there. How are you going to make that investment work even harder and allow you, the new landlord, to reap the financial rewards?
Certainly, one area you should look at, says Myra Blaik, Operations Director, Clear Group Scotland Ltd, is home improvement.
"Adding extra rooms, improving the existing decor, and even undertaking some landscaping work can add thousands to a property. But beware, it should be done with selling or renting in mind ie spending £30,000 on a new bathroom won't necessarily recoup you the same amount in a business transaction," she said. "That's why it's always best to get some expert guidance before you embark on a large-scale project.
The advice Clear Lets advocate includes:
Upgrading the outside of the property
Would a lick of paint help? Does the door buzzer work? Need to replace roof tiles? This is the first impression your prospective tenant will get and it needs to be a good one
Adding an extension to create another bedroom/larger kitchen
Space is a premium and if you have the land to do it, why not? But don't just think horizontally, you can always go upwards by adding on extra storeys.
Replacing kitchen doors and tiles
This is a far less expensive option than refitting the entire kitchen and with new worktops could make the room look as good as new
Making your property more energy efficient with a new boiler, double glazing or wall insulation
Energy efficiency is a buzz word these days, particularly with young couples, and local authorities are even giving out grants to help you convert. Definitely worth looking into
Let there be Light
Consider installing dimmer switches. These allow you to create mood and a welcoming, cosy atmosphere. If the property is already small however, a high wattage bulb can give the illusion of more room.
Redecorate
Even something as simple as cleaning and an extra coat of paint or two can boost the value and selling potential of a property. Make sure it's in neutral colours though. Decluttering will add extra space.
But a word of caution. "If you're looking at doing a big improvement programme make sure you have the necessarily permissions," added Myra, "Otherwise your insurance could be invalidated. And that's one road you really don't want to go down."
Company registration number: SC344923
272 Bath Street, Glasgow, G2 4JR
