When it comes to finding an investment property you are obviously looking for one that you can make a profit from each month. As a result, the properties you purchase tend to be smaller than you would buy for your own home. However, this doesn’t have to be a bad thing. If you utilise the space well you can make it a very appealing property for your target audience. After all, they are likely to only be there for a year so as long as it has suitable storage for this length of time, your potential tenants will be happy. PropertyQuoteDirect have suggested some ways of maximising the space in a small apartment to attract as many tenants as possible.
You need to assume that your tenants will have already de-cluttered before they move into your property because you simply won’t be able to provide the room for numerous football trophy’s that your tenant won whilst at school 15 years ago. Providing that they have de-cluttered by mounting cupboards on the walls you will be able to create some room for all the “stuff” that comes along with a tenant. You could mount a bookcase as well and house any CD’s DVD’s and books so there is still some floor space which is always a great advantage.
If you are renting out the apartment furnished then you need to choose pieces that work in each room rather than simply purchasing them because you like the look of them. Tables are of course handy in a living room but is it necessary? Probably not and not only does it take up extra room, when the tenant moves in and are constantly knocking into it, it will become damaged causing an extra bill for you. Corner sofas are great in small spaces not only because they look cosy but because they fit neatly round corners meaning no space is lost.
When many think of entertaining in a small apartment, they usually rely on the living room, well now you don’t have too. The kitchen is just next door and screaming for some attention. Whilst a dining room table is unlikely to be a feasible option, a breakfast bar is a great addition and one that will set your apartment away from other rentals in the local area too. Of course, if you can squeeze in a table too then maybe you can provide a folding table and chairs that can be stored in a loft in the apartment is lucky enough to have one!
If you are providing a bed it is advisable not to provide the biggest one that you can fit in the room. Instead try out a couple of options such as a futon or a sofa bed. These create more space in the room and will look more appealing to potential tenants if they can see the space.
The next best trick for landlords is to make the rooms as light as possible. The more windows and the more open the rooms appear, the bigger they will look. You can do this through choosing light colours to paint the walls with and not providing heavy curtains. Blinds are a better option as they also take up less room, make sure that you don’t clutter the room with too many lamps. This is not the way to make the room feel brighter and bigger.