Expenditures to Be Incurred for Renting Houses in UK
Renting out the property generates an easy income for the landlord but there are counter costs that he will have to sustain. There is council tax on the property to rent that is to be borne out by the landlord even if he is in the search of tenant. Other costs to be borne out by the landlords include the expenditures to be made on renovations and repairs in the property. Safety measures like gas sand fire safety that is compulsorily to be observed also need money to make the gas and electric appliances safe for use by the tenant and issuance of certificate in this regard. Landlord has also to spend on maintenance of the property to rent during the period of tenancy.
If you have engaged a letting agent for renting out your houses in UK, then you have to pay his fee and commission. You also have to pay the fee of lawyer for drafting lease agreement. If inventories are made then you are also going to pay for its drafting.
Besides there are many responsibilities placed on the shoulders of landlord by the law that are to be strictly followed. If landlord fails to comply with them, it amounts to crime and he will be punished for it.
However, there are many options available to the landlords to get back their expenditures by making investments in the renovations of the property to rent. Keeping in view your finances, invest wisely on your property and increase its worth. Don’t invest on such things that bear no importance and will not pay you back. Here are some suggestions to increase worth of your property.
When you are planning to let your houses in UK then you should prepare it for presentations and viewings by the tenants. You should renovate it in such a manner that attracts more tenants. Renovating your house will also increase its worth.
For renovations begin with outside of your house. If there is a lawn in the house make it looks clean. Make sure that there are no weeds in the grass and don’t forget to mow the grass. Garbage cans must be placed behind. Polishing the doors and outside window will give a new look to your property.
After you have made renewals at the outer side of the property to rent now renovate the interior of your property. First of all take a bird’s eye view what are the repairs and alterations that are necessary to be done. If there are any holes or cracks in the wall, fill them. Having a new paint will give a bright look to your house. Try to use colours that are soothing and are not showy. Don’t over decorate the rooms. Spacious house appeals to many tenants. If you decorate your house with mirrors, it will appear to the tenant that house is having enough space.
Check for the pipes and drainage. If there is leaking pipe do ask the plumber to repair it. Also repair any dripping taps. Researches show that investment in the kitchen is the key factor in renting out houses in UK. Try to make kitchen look neat and clean. It is the social area for family, so investing in kitchen always benefits.
Tom Ashdown - About Author:
Tom Ashdown is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on http://WWW.Greenlet.co.uk, please Greenlet Edinburgh.
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