Sprucing up your buy to let property? Update your landlord buildings insurance

The rental market has never been so competitive – meaning standing out from the crowd can be hard. Therefore, it’s unsurprising that many house owners may be thinking about carrying out a little improvement work on their property to make it more palatable for potential tenants.

For this reason, DIY Newbie is highlighting the importance of keeping your landlord building insurance up to date, especially if you’re going to carry out structural work on your property.

Improving your property for the rental market is a bit of a fine art that requires a different mindset to when you’re trying to sell. It’s important to remember that whatever you spend on your buy-to-let property will have to be recouped to make your business successful. While you may add a conservatory or loft conversion to your home in order to sell it, it could take many years or even decades of rent to pay for this.

For this reason, it’s best to think small when it comes to doing up your property for the rental market. A lot of little touches can go a long way. For example, investing in some new fixtures and fittings, such as lights or a fireplace, can really update a tired old room. Similarly, redecorating your home could make it more palatable. Aim to create a blank canvas - your tenants may want to put their own stamp on the property, so neural shades and blank walls could be your best bet.

You may even decide to make small structural changes to create space, such as knocking down the wall between the living and dining rooms to create a through-lounge. However, always check with an expert such as a builder first – and make sure you update your landlords building insurance afterwards.

It may even be the case that you need to turn your attention to the outside of the property. If no one has lived in the house for a few months or even years, the gardens could have become overgrown. A weekend spent tidying things up could pay dividends – don’t forget that the front garden is likely to be the first thing prospective tenants see.

And the better you make your property look, the more you’re likely to be able to charge in rent. Get it right and you’ll recoup your investment in no time. Find low cost landlords insurance and you’ll save even more money – making your buy to let venture as profitable as possible.