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Apartment Makeover - Pavilion House

November 13, 2019 - Read time 2 mins

We often talk about landlords maximising their rental income from their property; but what does this actually involve? We give you a brief breakdown of the decisions you need to make as a landlord, and we demonstrate through one of our rental apartments, Pavilion House, how we can help landlords get the most out of their property.


MAKEOVER VIDEO

Click here for the full 3D tour of Pavilion House 🏠

 

Agent VS Self-managed

One of the biggest decisions that you need to take as a landlord, is whether you want to go down the agent route in order to let your property, or whether you think you can find tenants and manage it yourself. Consider letting fees and management fees, as well as which agent you believe can help you fill it quickly and with the right tenants. If you choose to manage the property yourself, remember to factor in marketing costs (i.e. cost of finding tenants), as well as your own time. 

Use our comparison tool to find out how much you could save by renting your property to Lyvly. 💰

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When to accept an offer

In theory all landlords seek to achieve the highest possible rental income from their property. Of course this involves finding a balance between how long you are willing to keep your property empty before you say “yes” to an offer, and how much you’re willing to invest into making the property as desirable as possible to begin with. In other words, you need to consider your set up costs and weigh up any offers you are not sure about with your void costs. 

 

HAVE YOU WORKED OUT YOUR HIDDEN COSTS OF BECOMING A LANDLORD?

USE OUR CALCULATOR 🔢 FOR A QUICK BREAKDOWN

 

Who DO I WANT in my property

Few landlords consider who they would like to rent their property out to, but we strongly believe it is one of the first things you need to think about. For example, are you looking for family tenants, professional tenants, students, HMOs? Have you considered the fact that the more you invest into renovating and furnishing every room of the property, the more likely it is that you can rent it as an HMO to tenants who will subsequently most likely stay longer, and pay more to live there?

FIND OUT MORE ABOUT RENTING TO HMOs 

If you'd like to speak to us about your property, click on the yellow button below and we will get back to you within 24 hours.

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