The rental and property market in Ireland is changing. Landlords in Dublin are seeing rents rise while new mortgage rules are seeing the pace of property sales lessen. Many landlords are now reluctantly having to hold onto their properties for longer than anticipated. So how can you get the optimum rental for your property without breaking the bank in the process?
A tastefully decorated property will not only increase the rent yield but it will also lessen the vacancy rate in between tenancies. The photos you upload to the internet are going to dictate the number of enquiries the property receives. As they say ‘a picture says a thousand words’. This in turn, will dictate the eventual tenant and rent paid. Whether it’s a short-term let or long-term, the choice of quality and affordable furniture can be of significant importance.
Don’t go all avant-garde. You may be tempted to splash the walls with bold and daring colours and hang some exotic art on the walls. But neutral colours are advisable for an investment property, such as cream, white or beige. Tenants are different to each other and one person’s taste will differ to the next. As they say “beauty is in the eye of the beholder”. Calming, neutral colours will not scare off a potential tenant. And it is easier to mix and match furniture and decor against neutral walls. Silk finish paint is easier to clean and maintain than matte. The more tenants, the greater the wear and tear, so opt for a latex or acrylic based paint in order to increase durability.
Tenants coming and going over the years will inevitably increase the amount of wear and tear on the floor. And so it’s a suggestion to invest in a good quality carpet. Bear in mind that lighter colours are harder to clean. Floors can be hard wood in the living room and kitchens, but avoid using hard wood in the bedrooms. Carpet is always a better option. Plus it will improve the insulation. Carpets should not be used in the bathroom. Cushion flooring is acceptable for most properties. For high-end properties perhaps choose ceramic tiles.
Ireland’s rental market is different to the continent. Furniture is expected, whereas overseas, a property will be let empty of home furniture. Having said that, the basics are all that is required to furnish and let a property. For the lounge or living room a sofa and side-tables. For the kitchen a table and chairs. And for a bedroom a bed and bedside tables or lockers. Consider investing in good quality beds. And replaceable covers for the sofa are a must. Location will influence the choice of furniture. For instance a college in the neighbourhood will attract students who may prefer a desk and chair in the bedroom.
Health and Safety
Fire regulations will influence the choice of furniture. Landlords are expected to know and observe the fire regulations and ensure a property is compliant. Fabric in furniture should be fire resistant. Hallways, lobbies and exit’s should be clutter free and fire alarms should be installed and batteries regularly replaced.
With the above in mind, a property should be comfortable, safe and above all a place for your tenant to call home. For more inspiration on how to furnish a rental property browse our online shop and don’t hesitate to contact us if you have any more questions.