There are no rules for how often you should redecorate your rental property, but when the time comes for a spruce-up after a tenancy, it’s important to move quickly and make the right decisions for a fast and successful turnaround. Redecorating between tenancies leaves a lot less time to get the place looking like new again, so use this advice to help you on your way to securing your next tenant…
Do I need to redecorate in-between tenancies?
There is no inherent need or obligation to redecorate every time a tenant moves out, but landlords should make a decision based on the current condition of the property and the value they wish to provide to their next set of tenants. If your most recent tenant lived in the property for a few years, there’s a good chance it could benefit from a refresh even if they meticulously cared for it. Wear and tear is inevitable, so occasional cosmetic touch-ups are to be expected.
Tackle the most pressing issues first
Once your tenant has packed up all their belongings and vacated the property, the countdown is on to get a solid plan in place so that you aren’t losing money to a lengthy void period. Inspect your property and create a list of areas that need attention with estimated costs included. This way, you can time-save and budget accordingly by prioritizing the areas that really matter.
Think about what makes financial sense
Quality decorating can be expensive or completely cost-effective, it all depends on the decisions you make as an investor and a landlord. Once you’ve set up your plan and budget, it’s a good idea to group your tasks into what you can do yourself, and what may require the help of professionals.
You will also need to weigh up all your options based on reason, not just price. For example, if an old cooker is faulty, it might make more financial sense in the long run to replace it than to have someone repair it. You might even be able to find a good deal by going second-hand.
Time management
As mentioned previously, every day that the property is not ready for a new tenant is another day without rental income - so time is money! Although an ideal situation would entail the fastest and easiest turnaround possible, don’t succumb to stress and rush any substantial redecorating jobs, as this will show up on the finished result. Good time management and organisation is key, and you should start planning out a redecoration schedule as soon as your tenant hands their notice in so you can book a few days off work, find labourers/tradespeople, and gather the supplies needed beforehand. Set yourself a deadline and allocate most of your time to the unavoidable jobs, and any time or money left over to squeeze in some extra spruce-ups can be seen as a bonus.
Finding your next tenant
Sourcing tenants while redecorating can be difficult as they won’t be able to view the finished property. You could find tenants before your old tenants vacate, or before you start redecorating, but this will take time away from your deadline to get the work done. The best way to find the right tenants (and fast!) is through a letting agent who can do the elbow work for you while you’re busy shaping the place up.
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