Maximising Rental Income: 5 Compelling Reasons Why Landlords Need an Interior Designer
As a landlord, you may be wondering why you should hire an interior designer for your rental property. After all, you may think that interior designers are only for homeowners looking to decorate their homes. However, having worked closely with landlords over the last couple of years has proven to be highly beneficial for both the landlords and their tenants and there are indeed several benefits to hiring an interior designer for your rental property. In this blog post we will explore five of these benefits.
Increase Property Value
One of the primary benefits of hiring an interior designer as a landlord is that we can help increase the value of your property by maximising the property’s potential. With our expertise we can advise on space planning and optimising the layout, seamlessly embracing and integrating a building‘s history to the interior, advising on upgrades that can increase the property’s value, choosing the right colour scheme and furniture. In other words, we turn your property into a uniquely visually appealing, optimised and highly functional space, which will not only enhance your property’s appeal to potential tenants but also make it stand out from the competition and crowded market.
2. Attract More Tenants
Another benefit of hiring an interior designer is that we can help you attract more tenants to your property. A well-designed space will make your rental property more desirable, which can help you attract more potential high-quality tenants and command higher rental prices. An interior designer can also help you create a space that appeals to your target demographic, whether that’s young professionals, families, or retirees.
3. Save Time, Effort and Money
Designing an attractive, functional, and comfortable living space that will attract the ideal tenant takes a lot of time and effort. By hiring an interior designer, landlords can offload this work and focus on other aspects of managing and growing their property portfolios. While it may seem financially counterintuitive, hiring an interior designer can actually save not only time but also money in the long run by avoiding costly mistakes. An experienced designer will be able to work within your budget to create a space that looks great and meets your brief. Another perk and depending on your tax residence and how your property portfolio is structured, is that an interior designer's fees and the works can come under operating or capital expenses, both attracting tax relief.
4. Increase Tenant Retention
Another benefit of hiring an interior designer is that they can help increase tenant retention. A well-designed space can make tenants feel more comfortable and at home, which can make them more likely to stay in the property for longer. By investing in your property’s interior design, you can create a space that tenants will want to stay in, which can save you money in the long run by reducing turnover costs.
5. Professional Expertise
Finally, hiring an interior designer gives you access to professional expertise that you may not have otherwise. Interior designers have the training, experience, and industry knowledge to create spaces that look great and function well. With years of experience working with different spaces and styles, they can offer insights and advice that you may not have considered, recommend materials, colors, and furnishings that will stand up to wear and tear and make the most of the space.
To summarise, hiring an interior designer can be a smart investment for landlords who want to create unique, attractive, functional, and comfortable living spaces that will attract high-quality tenants and command higher rental prices.
Don't be put off by the upfront cost of an interior designer, as many offer digital options and can work with various budgets. Not only that but I also fully pass on my trade discounts so get in touch and see how we can create a higher yielding rental property that will attract your ideal tenants in all financial climates!