Will DIY push my rent sky-high?

Question

With the long weekend coming up I want to get some renovation work done at my property, specifically a new kitchen. Once done, I think I could command a little more rent – how do I broach this with potential viewers?

Answer

It’s great that you want to update your property, a freshly decorated property, and a shiny new kitchen, will always make an advert more appealing than a home that is possibly a little dated. However, do bear in mind that if you already have viewings booked you must make the potential tenants aware that the rent might potentially change – it’s good that you have already considered this!

If you already have viewings booked in, a courtesy call beforehand would be advisable, which would allow anyone who isn’t prepared to pay additional rent to cancel their viewing.

It’s important to remember, if you are making significant changes you could also consider let anybody who has already viewed your property know about the overhaul you’ve got planned. Although you are considering a rent increase, the thought of a freshly renovated property might spur them on to make another appointment to view again if it would be of interest.

Most estate agents can react fairly quickly if you ask them to change your price on the property portals – at URBAN you could simply login to your account and your amended price change would be active and visible to thousands of potential tenants within hours.

Before you start making major changes though, do consider doing a little market research into exactly what tenants are looking for. Contact potential tenants who already have a viewing booked, or speak to existing tenants, and ask them if they would prefer a new kitchen and higher rent, or the current kitchen and the rent to remain the same – don’t forget, they booked the viewing on the basis of the fixtures and fittings that you already have.

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