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The Property Podcast

TPP214: How to create the perfect rental property

The Property Podcast

Rob Bence & Rob Dix

Business News, Education, News, Investing, Business

4.82K Ratings

🗓️ 20 April 2017

⏱️ 22 minutes

🧾️ Download transcript

Summary

What makes the perfect rental property? This week The Robs give their tips on what to do and what to avoid, in order to create the ideal rental property for both you and your tenants.  What is more trouble than it's worth? What is an absolute essential? The Robs give you their take on how to make your property work for you and ensure it gets tenanted quickly and with no fuss.  In other news, we're putting the finishing touches to the next edition of the magazine, it will be with you very soon and includes and interview with Grand Designs presenter McCloud (yes, we're pretty excited about that too). PLUS there is a webinar coming up just for magazine subscribers which you will be very excited about, so watch this space.  Rob D has finally completed his new book 'How to be a Landlord' and we all think it's his best one to date. Keep an eye on your inbox for news on that very soon. Now, back to the subject in hand this week - what do you need to do to create the ideal rental property?  Flooring: - Good quality laminate is good for kitchens, bathrooms and high-traffic areas. Make sure it won’t easily rip or warp, don't skimp.  - Dark coloured carpets only! Good underlay makes cheap carpet feel thicker. Walls: - Paint straight onto plaster if you can - Mainly white or very light grey paint – same colour and brand in every property - Feature wall - Water-resistant eggshell or acrylic paint in bathroom and kitchen Bathrooms: - Shower over bath rather than shower tray - Electric shower so it’s not dependent on boiler - If possible, second bathroom or at least another toilet so if one breaks it’s not an emergency Kitchens: - Replacing cupboard doors and work surface might be enough to make it look new - Avoid integrated appliances. A Gardens: - Pave over as much as possible - If you can convert some into driveway or parking, do. Electrics: - Plenty of plug sockets - Maybe USB sockets - Get an electrical safety check because will probably need one soon anyway Safety: - Hard-wired smoke alarms, carbon monoxide alarm in rooms with boiler and as appliances, heat detector in kitchen Furnishing: - Avoid as much as possible - including appliances if you can get away with it General: - Don’t impose your own taste! Keep it simple - Don’t over-spec. Rental refurb is very different from a flip (or your own home) - Be active in overseeing the project News story: Rogue Landlords Beware!  There's no bad landlords round here of course, but this will definitely be a big issue for those who are not playing fair and by the rules. Can't be a bad thing, right? Absolutely, provided that it is correctly administered of course! Read more here. Resource of the week So this week's resource of the week is commutefrom.com which helps you decide where to buy a house around London. It tells you which stations are within your preferred commute time of the central London station nearest to your work. It also tells you information like the average house prices, crime rates, and schools in the area. Clever stuff, huh?  Continue the conversation over in the forum What did we miss? Did you disagree with any points? What do you always make sure you do? Let us know your take on this important subject and join the conversation over in the forum! If you enjoyed The Property Podcast, please leave a review on iTunes Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes. See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello everyone and welcome to the property podcast it's episode

0:03.0

214 I'm Rob B with Rob D and this week we're looking at how to create the

0:08.7

perfect rental property let's get going. Get going.

0:14.0

Ah, starting as we mean to go on there with a bit of a pun.

0:20.0

Very good.

0:21.0

Yes, we are talking about how to create the perfect rental property.

0:24.6

So almost like a bit of a thought experiment. If you could take a property, have it as a blank canvas,

0:28.7

do whatever you want to do it, how do you turn it into the perfect property?

0:32.4

Is there such a thing? Well, we will find out

0:34.6

We've also got a resource of the week that I think you will love if you're anything like us

0:39.3

And a new story that revolves around councils taking money off you surprise surprise

0:43.5

but first Rob we're talking this week about getting started with a property but we've

0:47.6

been putting the finishing touches to things this week.

0:50.5

Very busy week very busy so let's start with the magazine. The magazine is about to hit people's

0:56.7

door mats as you listen to this podcast. It may not be there now, but it will be there very, very soon soon and you'll see the lovely face of

1:04.2

Kevin McCloud on the front cover for those who don't know who Kevin is he's the

1:08.8

presenter of Grand Designs an amazing program that many of us will watch and love, but his insights are brilliant.

1:17.6

So if you haven't subscribed, don't worry, you can still get a copy digitally. We give you all the back copies which include interviews with Sarah Beanie, Martin Roberts, and plenty of in-depth really, really interesting, actionable articles as well. The magazine, Rob, we've talked about this early in a week,

1:35.6

it's just where we can express ourselves in more detail, but actually not just ourselves,

1:39.9

we bring in really talented writers across the industry to put together what something that we're very proud of.

1:46.6

Yeah, it is pretty awesome if I do say so myself. I always enjoy reading the articles and checking them and approving them as they come through

1:53.8

there's some really good stuff in there I think this is actually I say every time I

...

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