Fixing up and decorating your rental investment on a budget
Malta’s renting market is a competitive one for all landlords trying to target their ideal type of tenant for the rent price they’re asking.
As a landlord, you want to maximise your rental income by making your apartment or other property looks as attractive as possible to potential renters so that they won’t mind paying the extra euro or two per month.
Here are three tips and tricks of how to fix up and decorate your rental investment while on a budget, significantly increasing the value of your property along the way.
Install coving for a finished look
Spaces have a huge effect on our psychology. Bright rooms are great at making potential renters feel happy and relaxed, and an amazing way of making a room look bright is by installing white coving.
Paint is expensive, so repainting an entire room in a neutral colour like white or cream can be beyond budget. But consider putting in covings in the major areas of your property, like the living room, to give the space the highlight of brightness it needs. The polished and finished look will look enticing to any possible tenants who are looking for a space to call home, even if temporarily.
Depending on what type you buy, coving doesn’t need to be expensive. You can easily pop over to your local ironmonger or a home store and purchase a pack for a reasonable price.
Added bonus: if you’re willing to get your hands dirty, covings are relatively easy to put up too.
Don’t skimp on furnishings
What do we mean by furnishings? In this case, mostly carpets and curtains.
Properties can look very empty and bare without the proper finishing touches, like curtains and carpets. They can add a lot of character to a room and make it seem far more inviting than before. You don’t need to be an interior designer to choose the right curtains and carpets to go with the rest of the room; all you need is some kind of vision of what colour, pattern and texture you want.
Carpets and curtains can be a cheap investment if you know where to look. When it comes to curtains, it’s often better to just buy a bolt of fabric from somewhere and have a seamstress cut them out the way you want them too. Carpets can be bought from street-markets or shops which specialise in them, all for good value.
Added bonus: aside from their aesthetic appeal, they also have practical functions like insulation for the winter.
It needs a personal touch
It’s good to keep in mind that your tenants are looking for a temporary home, not just a house or an apartment. It’ll serve you well to add a few homey personal touches to your property.
Plants are an absolute must-have for any property. These leafy creatures are brilliant at brightening up any place, and they’re the most low-maintenance roommates your tenants will ever have.
When it comes to the bathroom, a set of brightly coloured new towels will do the trick for setting off the space through contrast (do you a dark wood bathroom? Buy some orange towels!).
Things like fancy spice racks and tea and coffee containers can easily be purchased at decent prices, and they’ll make your kitchen look miles more cooking-friendly.
When it comes to living rooms, just buy a few second-hand books from a charity shop or choose a couple from your own personal library and stack them on the coffee table or on some shelves. Having some pens and notebooks around will also contribute to the overall comfortable vibe you’re looking for.
Photo courtesy of Chastity Cortijo from Unsplash