Springtide Capital provides funding for many builds, refurbishments and Buy to Let properties. It’s easy to focus on the structure of a building but some thought on the internal affairs could bring handsome profits. We’ve collated a list of the hottest rental areas in property and some ideas for those profitable finishing touches inside.
If you’ve managed to secure a property in some of the most expensive areas in London, you’ll be pleased to know that, in the long-term, you’re set to continue to see rental increases. If you’re interested in purchasing property in the areas mentioned within this article, Springtide Capital would be happy to talk to you about the best funding options. Our specialists, based in London, have extensive experience and offer a tailored solution to help you to start or expand your investment portfolio.
According to the latest CRBE research the following areas will see some of the largest rental price increases during the next five years:
Richmond-upon Thames 33%
The above areas attract a discerning tenant who is looking for more than an average rental property. You’ll need to consider your interior design very carefully in order to achieve the highest rental yield and tenant.
Some of the properties in these areas will have benefited from a high-end refurbishment with the help of an experienced interior designer. This is certainly one way to approach a high standard bespoke interior, however, if you’re keeping costs down and would like to design the interior yourself, why not try the following:
- Furnished houses are popular with professionals and generate a higher rental yield.
- Kitchens and bathrooms sell houses, if you’re going to spend money, do it here. They need to be neutral but very high-end, think glossy or country oak. Go for blinds not curtains.
- Dress the house for viewings but don’t add lots of ornaments, a viewer will want to imagine their own small touches.
- Don’t overdo the gadgets, they can be unnecessary and cost a fortune to fix.
- Ensure the house is warm and smells nice during viewings, use scented candles as opposed to air fresheners, they can often over-power people.
- A spacious house with somewhere to store clutter will rank highly with tenants.
- Try not to use odd furniture, select furniture sets which are slightly smaller than the room to give the impression of space, although a large centre piece can be very attractive if the room size can take it. Mirrors are a great way to add the illusion of space.
- The majority of accessories, linen and lamps can be purchased from supermarkets and retailers such as The Range relatively cheaply. You can also find some great high-end touches.
- Ensure that the property is properly finished when viewed with no snagging to do, this will instil quality.
- When decorating, think of complimentary colours but not many, colours can put people off. Do remember that magnolia doesn’t wear well and looks dirty very quickly. There are palette guides online to help understand which ones work best.
- Make sure your materials will work hard as many rentals aren’t treated respectfully, as ultimately, the tenants don’t own the property. Tiles work well, floor boards get damaged too easily.
- Ensure beds are made up, they will make the house look more homely.
- Your letting agent’s advice will be invaluable, ask to see similar properties and ask what works well in the area.
If you’d like to discuss your next investment project, call us now on 020 8154 7280.