Why Landlords Should Refurbish for Better Returns and Faster Rentals

Maximising Return On Investment For Edinburgh Landlords

When you’re a landlord, working out the right balance between investing in your property and getting a worthwhile return on that spend can be difficult to calculate. Go overboard on your investment, and you may never really get back what you spent out. You need to identify that sweet spot where your investment returns over and above. That’s where a good letting agent can help.

Investing in the refurbishment of a buy-to-let property in Edinburgh can make the difference between a tenant snapping it up as soon as it hits the market or sitting empty for months. And with the COVID-19 pandemic impacting Edinburgh’s lettings market, presenting a property in ‘as new’ condition has never been more important.

Clan Gordon has been looking after buy-to-lets for Edinburgh landlords for more than 13 years, and we currently have around 500 properties on our books across the city, and we are the highest rated letting agent in Edinburgh. With extensive experience in this area, we are always happy to advise landlords and property investors on renovations or manage the whole project for them. (read our blog how to avoid cowboy builders)

Where To Buy an Investment Property in Edinburgh

We often work with clients at the purchase stage to help them select properties in areas of Edinburgh that we know will provide a good rental income. We then advise on refurbishments, sometimes overseeing the whole project from purchase to rental to ensure the property reaches the desired standard and attracts the perfect tenant.

Why Invest in Property?

Transforming a property into a highly desirable residence is an investment that will last a number of years and ensure it’s easy to let when tenants move on. High-end kitchens and bathrooms are always star attractions, and spending a bit more means, they’ll be durable and won’t require as much maintenance.

Clan Gordon managing director Jonathan Gordon said: “There’s no doubt the Edinburgh lettings market has taken a hit during the pandemic, but good landlords are still letting their properties and attaining strong rents. The key is quality – a good property with high-grade fixtures and fittings makes it easier to attract tenants.”

Examples of property investment case studies in Edinburgh

As well as looking after individual properties for landlords, Clan Gordon manages and helps to build property portfolios for clients.

Case Study 1

A landlord asked Clan Gordon to take on his property once the current tenant moved out, managing renovations and finding a new tenant. The flat was being let for £725 a month.

Clan Gordon project-managed the £30k refurbishment and re-let it within a week of advertising at £1,100 a month – an annual increase of £4,500. The tenant moved in just two weeks later.

The landlord can expect a return on the £30k investment in under seven years, and the renovations to the property will last considerably longer. The photos clearly show the transformation from shabby to ultra-chic.

Case Study 2

Iain and Alex consulted Clan Gordon when they were first building a property portfolio after being recommended by another company.

With the couple’s latest property Clan Gordon managed the complete refurbishment from start to finish, taking all the hassle away.

Iain said: “Clan Gordon always deliver a consistently professional service. They were able to advise us on where the market was going and the best locations for investment properties.

“One of the things we like the most about letting our property through Clan Gordon is the ease of management. They deal with all the tenant-side of things, from vetting to dealing with any issues once they’ve moved in.

“Now we tend to look out for new properties to invest in and will contact Jonathan and his team to bounce ideas off them to see if they think it looks like a good opportunity,” they said.

Investing in rental property doesn’t need to feel like a minefield. We can take away that hassle for you.

Get on the buy-to-let ladder with expert support from the highest-rated letting agent in Edinburgh.

 If you are looking to get on the buy-to-let ladder or would like advice on refurbishing a rental property, schedule a call for a no-obligation chat. Our professional team will be happy to talk you through what’s involved so you can start enjoying a great return on your investment without any of the hassle involved.

 

A Complete Guide for Landlords can be found here.

Read about choosing the best letting agent.

Buy-to-let Refurbishment Before Images

Buy-to-let Refurbishment After Images

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