Taking on New Properties to Let
To begin, a landlord may consider property refurbishment options before they rent their property.
Sometimes landlords may be provided a property by a landlord that needs a refurb before the property is let.
Consequently, a landlord may not have the money to carry out a refurb.
Fortunately, there are options out there that can assist landlords.
Property Refurbishment Costs
As previously stated, it may become quite costly to refurbish a property to an acceptable standard.
The following refurbishment issues may need attention:
- new carpet/flooring
- kitchen refurb
- bathroom refurb
- plumbing maintenance
- electrical maintenance
- gas maintenance
Maybe it is one of these issues or a combination of them, but there is always a property maintenance issue on the horizon.
So, there are property refurb options that are available to landlords. Some are obvious.
A landlord can choose the option to take on the full cost of the works and contact the contractors.
A good place to find contractors to refurb your property is a site called MyBuilder.
Anyone can find local tradesmen in your area and find out who will provide reasonable quotes.
Alternatively, a landlord can do the work themselves if they can do so.
The works can be done this way quickly or slowly depending on the landlord’s lifestyle.
Another option is to split the cost with a reputable property management company.
If so, carry out your due diligence and request quotes from them for the works.
A final option would be to allow the property management company to take on the full cost of the works.
Again, carry out your due diligence and request quotes from them for the works.
There may be an option to deduct the cost of the works to be paid off over time.
To conclude, know your property refurbishment options and do your research.
Call us Metropolitan and Crown Estate Agent Ltd on 0207 538 8887 to find out more.