How to Increase Your Apartment Rental Fee Through Home Decoration
For anyone who owns a property that they rent out to tenants, getting the best return on your apartment is key.
The income that you get will of course depend on its size and location, but there are some changes that you can make to ensure your getting the most for your investment.
One of the most important factors in renting out a rental apartment is its décor. An apartment that has exactly the same floor plan but a higher quality finish than a neighbouring property, will rent out for considerably more, so here’s how you can ensure that your apartment is the best looking on the street.
Keep it neutral
You may love bright, bold colours, but there’s a good chance that your tenants won’t.
This doesn’t mean that you have to paint the entire walls magnolia, but try to stick to a fairly neutral palette and keep the theme running throughout the apartment.
This goes for furniture too, so try to avoid any dated pieces or anything that stands out or dominates a space.
For curtains and window furniture this is especially important as dark, heavy curtains will let less light into the room and make it feel smaller and less welcoming.
Restoring an old fireplace will add charm and character to your property
Make the most of period features
If you’re lucky enough to own an apartment with period features, make the most of them.
If someone is looking to move into a character property, the last thing they’ll want is UPVC windows and flat pack furniture.
Fireplaces, whether they’re working or not, are always a big attraction, if yours has been boarded over or neglected, fit a replacement and make the most of this feature.
Real wood floorboards are also a huge draw for an apartment, so if yours have been covered up by carpets, pull them back to reveal the boards underneath.
Every detail from the doorknobs to the window frames should be enhanced and emphasised so that prospective tenants can see character or your apartment straight away.
Add some homely detail
Although your tenants are only renting, they’ll still want to feel like they’re coming home when they enter your apartment.
Add some homely details like wall art, flowers and lamps to make the place feel lived in and loved. However avoid anything too personal like photos, as then it will feel like someone else’s apartment.
Define your areas
However big or small your apartment is, defining its living space is crucial for prospective tenants to get a good feel for how they would use each room.
Use furniture to show where each activity would take place, and add accessories to imply what sort of lifestyle your tenants could have.
This could include dressing the table for a dinner party, or placing a wine bottle with glasses on the balcony.
If your apartment is on the small side, show tenants how they could make the most of the space by defining an eating area with a small table and chairs, adding an extra living area to the apartment.
Investing in a high quality finish may cost more initially, but you should get your money back in increased rental income.
Use quality fittings
When renting out an apartment it can be tempting to use basic fixtures and fittings as they often become damaged during a tenancy anyway.
However if you invest in higher quality pieces, like a good cooker, high-end work surfaces and a sparkling new bathroom, you’re likely attract better tenants and more money for your apartment.
When renting out an apartment, there are plenty of decorative changes that you can make to ensure you’re getting the best return possible.
So roll up your sleeves, rip down those old curtains and get painting.