Do you have a second residence and would like to take advantage of it by renting it? If you need any reform, you must bear in mind that it is not the same to do it for our habitual residence than for a property intended for lease. With this guide you will know the 3 key points to carry out the comprehensive reform of a rental home and what improvements should be prioritized.
Carrying out comprehensive reforms in a rental home must be approached in a different way than it would be if it were for our habitual residence. There are 3 key points on which the reform should be based:
- Don’t go over budget.
- Project it so that the result is viable for different types of tenants.
- Think long-term and facilitate the management of electricity, water and gas services.
Budget for a comprehensive reform in a rental home
It is essential know the amount of money that can be dedicated to the reform. For this, it will be necessary to realistically assess the amount of our savings that we can allocate to it and if external financing is necessary. In the case of requesting a loan, the interest and expenses it generates must be taken into account, since they will increase the total cost of the reform.
On the other hand, good planning will help you prevent extra expenses. but they can still arise. On many occasions during the works hidden defects appear that increase the final cost. Precisely because they are hidden, they are impossible to predict and usually require an extra financial effort.
Reform according to the type of tenant
The reforms that are carried out to rent a house must suit the type of tenant to which the offer is addressed. However, it should also be considered that the type of tenant may vary over time. Therefore, we must consider whether the tenant is going to be long-term or seasonal. According to this premise, the prices of reforms can vary substantially.
In the case of a student or a teacher who only comes to stay for a few months, it is advisable to invest in appliances and systems with low energy consumption. As for the decoration, a neutral and functional style will be chosen, as well as resistant furniture.
On the other hand, for a stable tenant, the investment must be higher. The result of the reform should leave a beautiful house, pleasant to live in and modern. The objective is that the possible inhabitant can imagine living in that place. No complement should be missing and the decoration should follow contemporary trends in interior design.
Supply Management
It is complicated and unnecessary to have to change the name of the utility account every time the rental period ends and a new tenant enters. Likewise, the insecurity and inconvenience generated by the tenant leaving, leaving unpaid bills must also be avoided.
For this reason, it is advisable to reduce the number of supplies to two: electricity and water. This means that the reform should include the installation of air conditioning that works with electricity, eliminating gas. In addition, maintenance and repairs are easier and cheaper to carry out, since everything is done electrically.
In any case, on the page reformsbarcelonalowcost.com You will find various tips and useful information on how to save and manage electricity and water services.
Other tips to improve the possibilities and increase the price when renting a home
have a good interior designer to maximize space and offer clear solutions for the rental project at hand. Surely one of the first pieces of advice he will offer will be to gain as much natural light as possible, that will give a feeling of spaciousness.
In this sense, in terms of amplitude, it is convenient, according to the latest trends, remove the partitions that enclose a small room to save space in general. Similarly, it is advisable to include in the reform the creation of a kitchen open to living roomcreating an American bar or a simple island that serves as a separation.
Another element to consider is the furniture layout. It is necessary to take into account, before projecting the reform, How many maximum tenants do you want to have?. It is an element that will depend exclusively on the owner and must be studied carefully. Experts advise having fewer but larger rooms and a minimalist decorative style. Having fewer tenants and charging more expensively ensures that the expense and deterioration of the property are lower and profitability increases.
I hope that these keys and tips will be useful if you are going to do the Comprehensive renovation of a rental home. You won’t save yourself from noise or dust nuisance, but it will improve your chances of raising your rental price.
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