The Edinburgh Property Market continues to perform strongly, with average rents exceeding £1,000 pcm in 2017. It might seem that in such a competitive market there is little need to invest in refurbishing a buy-to-let.
However, a landlord should consider several factors when making this decision, not least the increasing number of professionals and families choosing to rent as their preferred housing option. Tenancy lengths are increasing as people see renting as a long-term option, and not just a stop gap to getting on the housing ladder.
So, whilst demand is exceptional, tenants are equally seeking out the highest standard of property to call home, and are willing to pay a premium to secure this.
Braemore has a highly-experienced team of Property Managers, actively identifying opportunities for improvements to the portfolio, ensuring our clients are given knowledge and guidance on renovation projects to provide increased rental yields through a full year term. Our dedicated maintenance team works closely with our Property Managers to carry out the work to the highest standard.
In April 2017, we identified a refurbishment opportunity and contacted the landlord to provide quotes through our in-house maintenance team Lomond Maintenance Ltd.
The flat was completely transformed within a matter of weeks, into a high-end property which is highly sought after. At the end of the process landlord, Jake opted to try our Short Term Let Service. Prices have been set between £115 - £135 per night, increasing to £175 per night in the peak seasons, and it has already received several bookings after just a few days on the market.
The location, size and features of this property will ensure it continues to be an attractive proposition for the long term or short-term market. Investing in this asset has increased the capital value as well as the earning capability.
Braemore have the experts on hand to advise you on all aspects of Property Investment and can help you maximise the return on your investment whichever route you decide to take. For more information on Braemore’s full Property Management packages, please contact our New Business Director, Callum MacGregor on 0131 624 6666 or firstname.lastname@example.org.
Download our Refurbishment brochure HERE