By Shelley Walker, Managing Director of The Mortgage Mum Specialist Finance.
With rental price increases reported over the last year, are you offering your tenants more for their money?
Increasing rents can be a contentious issue.
Landlords are often keen to maintain rents for good tenants, but doing so can compromise their ability to remortgage.
So, with the increased costs of living, is there a way to enhance the property to save your tenants money and help you keep in line with market rents? Have you thought about:
Redecorating or upgrading the property – You’d do this in between lettings so why not give the place a ‘spruce up’ for a long standing tenant? How about some extra inbuilt storage? You can never have too much of that!
Appliance upgrades – Can you save them money by installing a more efficient appliance? How about the boiler? This can often be replaced completely free of charge if your tenant is on benefits.
Property letting can be a real partnership between landlords and tenants. A happy tenant will be more likely to stay long term and should lead to much less hassle for you as the landlord and better margins for the long term.
If you are a landlord and want to have a conversation about anything to do with specialist financing, please get in touch. We’re here to help and to explore options for you.
The Mortgage Mum Specialist Finance (FCA 999350) is an appointed representative of New Leaf Distribution Ltd (FCA 460421). Some of the products discussed are not regulated by the Financial Conduct Authority.
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