When should I renovate my buy-to-let property?
Having a buy-to-let property that requires refurbishment and renovation can be frustrating if the timing is not right.
If the renovations take too much time to complete, you are going to be out of pocket, and that is not a sound business move.
So, when should you renovate your buy-to-let? The short answer to this question is ‘between tenancies’. However, this is not always convenient, especially if scheduling, seasons and funds are going to be an issue. There are ways around these issues, however. Let’s take them one by one.
The key to scheduling is being organised. Yet even the most organised individual is going to have a difficult time trying not to be impatient until the tenancy has ended and before the builders or painters arrive. We, on the other hand, can organise the decorators for you as we have a list of reliable and professional people to help. So once your current tenancy is over, we will arrange to get the property decorated in a timely manner.
Autumn is now here, and with it comes the darker evenings and cooler mornings. This does put a time constraint on availability as most of us want building or renovation work to be done before the winter sets in. Chances are that your next tenants will want to be in before Christmas too. As mentioned above, we can organise decorators to fit in with your timetable, so it need not be an issue.
Funds: As one tenant leaves, the property is lying empty, and no tenant means no rent. Renovations can cost a lot which can create a large hole in your finances. But we offer maintenance packages. These are designed to provide you with everything you need for the renovations while ensuring your cash flow remains fluid, reducing stress and worry.
For any landlord, when it comes to the redecoration or renovation of a property they intend to let out and draw a regular income from, you need to consider financial outlay and whether you are likely to make that money back through future rent. Look to install materials which are practical and durable yet affordable, while with paint colours, keep everything neutral. You always want to show the property at its best.
We are always here to offer help and advice when you need it. Our experience and knowledge within the industry means there is always something we can offer when you need it most. Contact us today.