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All the latest tips and guides from YOUR Insurance.

Maximising your property’s potential

Maximising your property's potentialMaking the best of what you have can increase your property’s attractiveness to potential tenants. From advertising to home improvement fixes, these useful tips can help make light work of marketing and maintaining your property.

Finding the perfect tenant
Before you decide on where to advertise you need to decide what type of tenant you want to attract. Whether you want a professional couple, a family or students depends on the type of property you own, its location and your rental price.

Where to advertise for a tenant?
You can advertise your rental property in a number of different ways. Newspaper advertisements, community notice boards, rental websites and word of mouth may all prove effective, depending on your situation. Many landlords are opting for direct letting and use free or paid online advertising to find tenants. Word of mouth advertising is also effective – and free. Put the word out to your colleagues, friends, neighbours and current tenants and use your social network to obtain a reference for your prospective tenants. A referral from a trusted source can also help attract a good tenant.

Maintenance considerations
Routine maintenance makes sense for many reasons. Immediate action and regular maintenance checks can help prevent long-term damage and future repair bills. Service your boilers and cookers regularly and take care of little problems such as leaky showers or taps before they become an expensive headache. Buildings insurance for landlords offers some protection against such damage.

Insurance for landlords covers a range of events that may cause damage to your property. It is important that you understand your level of buildings insurance for landlords cover before you need to make a claim.

Quick tips for home improvement and tenant attraction

First impressions do count, so stand outside and look at your property through the eyes of a tenant. Fix any broken windows, damaged or sagging gutters. Painting the interior can make your rooms appear lighter, bigger and cleaner, but be sure to pick a neutral colour scheme. Fix any leaking taps and broken appliances and unblock clogged drains prior to showing the property. Wash the windows and polish all metal fixtures to a keen gleam for maximum visual appeal.

Any minor repairs you can do will add instant appeal to your property. If you have a buildings insurance policy for landlords, remember to inform your insurance company of any home improvements you make. Also be sure to notify them when the property is tenanted, as this may affect your landlord insurance cover.