As you research properties to rent it becomes clear which properties attract the right tenants, at the right price and at the right time allowing landlords to enjoy a steady cash flow
Lettings is seasonal and can have in impact on the level of interest a property can get and yet more often than none the properties where landlords reinvest by painting, refurbishing and replacing furniture get rented before those that don�t. All too often we see landlords buy a property and think it can just run itself, unfortunately that is not usually the case. After a period of time wear and tear will begin to show. As a result of deposit rules landlords are unable to deduct a whole refurbishment out of a tenants deposit, most of the time it�s just a nominal amount. At My City Nest we believe there is real benefit with reinvesting in the property each year. We tend to advise our landlords to invest at least one weeks rental revenue back into the property � this maybe to replace some worn furniture or to repaint the property.
My City Nest top tips for successful reinvesting are:
Our Let and Managed service includes an inspection of the property. Based on this we will recommend any changes that we believe could add value to your investment