Properties that have been used for illegal purposes by former tenants, houses that have been unoccupied for a long time and even just houses that have been vacant for a long time and have fallen into a bad way – all pose issues if you want to attract tenants.
These issues can create a long-term stigma that can linger long after the property has been transferred to a new investor.
Transforming the interior of the property doesn’t always mean you can shake off the reputation of the ‘horror house’. But while it can be difficult to manage a property with a rogue reputation, it is possible to raise its profile within the community.
So what can you do to transform a property so that people are queuing up to have a look round? Whether you want to eventually sell the property or if you want to rent it out here are our top tips:
Remember that people forget
In a fast paced world, things move on fast and so do attention spans. The stigma of the ‘horror house’ will naturally fade away as the house is transformed, and even if the property’s story makes the headlines, news can soon be forgotten and replaced with ‘newer’ news – so rest assured that people will forget.
Change or paint the front door
Changing the front door of the property or painting it a new colour can completely change the look and atmosphere of a property – having a big impact on how potential tenants and buyers view the house.
In fact, a study that analysed 1,000 properties on Zoopla found that blue is the most ‘valuable’ front door colour and can add a whopping £4,000 to your house value.
The second most valuable colour is white, which can boost your property value by £3,400. On the other end of the scale, a brown door can actually decrease the value of the property by £700.
Keep the price competitive
It is beneficial to keep the rental price low in order to attract a large number of potential renters – this ensures a larger pool of prospective tenants to choose from.
Give the property a new name
Adding signage to the front of the house and a new name for the property can give it a whole new lease of life.
Buying new signage and mounting shiny new house numbers helps to essentially rebrand the property from being the ‘abandoned house’ or the ‘horrible house’ into being simply whatever you choose it to be called!
Signage can be picked up relatively cheap and personalised from places like Etsy.
Use an agent
Use a reputable agent like Belvoir to prevent standards from slipping.
Belvoir inspects the property at least every three months and reports back to the landlord as well as undertaking proper references.
When you’ve selected a reputable agent, inform locals that a professional lettings agent has taken over the property and allow the agency’s good reputation to overwrite the property’s bad one.
