What to know before embarking on a rental renovation

As a buy-to-let investor, there’s a strong likelihood you’ll need to renovate and refurbish your property at some point. But whether it’s repairing damage or adding value, there are certain steps you need to take in order to make sure your renovation runs smoothly.

How renovations attract the right types of tenants

Renovations, when handled in the right way, can be the deciding factor for tenants when they’re choosing between different properties. Maybe it’s a property that’s recently been painted and looks fresh and bright, or perhaps you’ve invested in a bathroom renovation to update the space with new fixtures for a spa-like feel.

Whatever the improvements, they create a positive first impression that makes tenants feel right at home straight away. It also helps them envision themselves living in the space if it’s in a good condition, clean and stylish, compared to cluttered and damaged.  With this in mind, here’s what all landlords should know before they embark on a rental renovation project, from costing and schedules to the upgrades that add the most value.

Set a clear budget

The first step to a smooth renovation is to determine how much you can, or want to, spend. You’ll need to identify the areas that need refurbishing the most to prioritise, and work out what’s feasible in your space. A further consideration is ensuring your void period is as short as possible, as a bigger renovation will mean your property sitting empty for longer. With a plan and budget in place, you can also set a timescale for the project – remember to factor in a little leeway for unexpected issues.

Choose the right upgrades

Flooring

Floors are often overlooked in rental properties, yet they do undergo a significant amount of wear and tear over the years, with tenants moving in and out, and furniture regularly being shifted around. Choosing the right flooring is a smart investment during any property upgrade. Opt for something that’s durable, easy to keep clean, and looks aesthetically pleasing for your tenants. Commercial-grade tiles, hardwood floors or luxury vinyl tiles (LVT) are great options.

Bathroom and kitchen refurbishments

Bathrooms and kitchens are a core fixture of any rental, meaning they need to be high quality and tailored to tenants. While cheaper options might seem like a way to cut costs, they often result in higher maintenance expenses over time. Lower-quality taps, faucets, and showerheads in bathrooms are more prone to wear, corrosion, and leaks, which can lead to frequent repairs and even damage to surrounding areas like countertops, vanities, and flooring.

Likewise, cheap appliances in a kitchen will wear out quickly and require replacements. Upgrading to durable, premium fixtures ensures longevity and reduces the risk of water damage, which is one of the most common and costly issues in rental properties.

Beyond practicality, quality fittings also enhance the aesthetic appeal of your rental property. Sleek, modern fixtures can elevate the look, making it more attractive to potential tenants. A well-maintained, stylish room is often a key selling point and can even justify higher rental rates, offering a return on investment for the upgrade.

Energy-efficiency installations

When renovating a rental property, focusing on energy-efficient improvements can significantly enhance the value and appeal of your property. Not only do these upgrades benefit the environment, but they also reduce long-term energy costs, making the property more attractive to potential tenants who are mindful of utility expenses.

Start by upgrading to energy-efficient appliances in the kitchen. Electric ovens, dishwashers, and washing machines that are designed with advanced features will minimise power and water consumption. You should also opt for appliances that have earned Energy Star certification or similar efficiency ratings to ensure you’re making an eco-conscious choice.

Windows and glazing

If the property only has single-glazed windows, or the double glazing is very old, it might be time to invest in new glazing. Renovating windows can make a big dent in your budget but it’s a project that offers numerous benefits, from increased security in the property to greater energy efficiency and a reduced risk of damp and draughts. Remember, if you’re replacing the windows, you’ll likely need to repair the frames and redecorate the area around the frame, so you may want to factor in redecorating for after the windows have been installed.

Know when to seek out professional advice

Naturally, you want to save money where possible but there are some jobs where a DIY approach isn’t the best course of action. In fact, trying to tackle certain tasks yourself could wind up causing a bigger issue that will be harder and more expensive to fix. A sensible course of action is to call in contractors who have the necessary experience to carry out these projects efficiently and to a professional standard for your tenants.

One example is replacing plumbing fixtures like washing machines or big electrical appliances. The same goes for exterior repairs like roofing or rendering – unless you have experience, it can be worth the investment to hire someone to do the job for you.

Renovating a rental property is a strategic move for investors but it’s one that can give you significant returns on your investment if you plan and execute it successfully. From knowing which refurbishments to make to sticking to a budget and timescale, and making sure you know when to call in the professionals to tackle a specific job, it’s possible to create a rental property that is up to date, stylish and in the best condition for your tenants.