Renting out your first property can be quite daunting - let's face it, it's a big move to make for anyone.
If you're letting your property out to students, bear in mind that they need a blank canvas, so they can add their own character to it. Chances are if it's their first move away from home, they'll need furniture too.
There's no need to go overboard on the cost of furnishing your house, but good tenants will expect it to be well presented, in good decorative order and clean.
If you're a first time landlord and wondering how best to kit your property out for student tenants, here's a list of top tips to try, that might just help you decide.
1) Hard floors are always a good idea when renting a property out. They're less easy to damage and stain, more durable and less susceptible to wear and tear.
2) If you've decided on carpets for your property, make sure they're dark in colour, fairly cheap and washable.
3) Boilers are often the first things to go in rented houses. Make sure you've got a good policy in place, for example British Gas Landlord Essentials Plus, which provides ongoing maintenance, servicing and cover for breakdown or repairs.
4) Use heat sensors in the kitchen instead of smoke alarms, which can be too sensitive to burnt cooking.
5) Furnish and decorate your property to a level that matches its value, but bear in mind there are certain features that most tenants will want these days, such as a dishwasher and a washing machine.
6) Don’t assume you can furnish your house with items you’ve kept stored for years. If they don’t meet fire and safety regulations, they’re no good.
7) Use mattress toppers and a good quality bedstead to ensure you aren't constantly replacing mattresses.
8) Use linoleum in your kitchen, rather then tiles, which can be susceptible to chips and cracks when things are dropped on them.
9) A regularly used shower can be prone to leaks, especially if you have lots of tenants in your property. Establish contact with a loyal, reliable and trustworthy plumber before you start.
10) Keep your property clean and in as good a working order as you possibly can. Remember, a nice house should attract nice tenants. Hopefully if they find a comfortable and pleasant home to start with, they'll want to keep it that way.
And once you've got your perfect tenants, remember:
• Contact the utilities companies with meter readings as the landlord, before your tenants move in and let them know your tenants’ names.
• Fix things as quickly as you can and respond pleasantly if they tell you there’s a problem – otherwise, next time, they may not bother, and the problem will escalate from being a tiny one into a big, costly one.
• Clean the carpets and paint the walls between each tenancy. A clean property will appear in a better state of repair, making it far more appealing than rival properties.
• Take a full inventory of the items in your property at the beginning of every school year and have your tenants sign it.