February 10, 2017
Do your tenants pay for their own home improvements?
According to Plentific, 73% of private renters carry out DIY, maintenance and home improvements at their own expense. Research by the home improvements company also revealed that almost a quarter of tenants spend over £500 on sprucing up their rented accommodation.
Tenants that envisage themselves staying in a property for a long period of time tend to want make the place feel more homely. If the amendments to the property are purely aesthetic, the landlord is not always liable to pay for them, meaning that tenants will have to pick up the bill instead. Whether this is installing shelving, painting walls or re-tiling, many tenants are happy to make the effort themselves.
Figures from Plentific show that on average, around 23% of tenants have spent over £500 on home improvements during their tenancy, 25% spent between £100 and £500, and 26% of those in rented accommodation spending under £100. The age of tenants also makes a difference in the amount of money willing to be spent. 27% of over 55s spent more than £500 on improvements on their rental property, whereas just 15% of 18-34s did the same.
With more and more people choosing to rent for longer periods of time, landlords should expect that the majority of their tenants will want to make their property feel more homely by making cosmetic changes. With that in mind, it is wise to clearly set out guidelines and expectations for tenants in the tenancy agreement, so as to avoid tricky disputes at the end of the tenancy. We have more advice on how to avoid tenancy disputes. It’s also worth considering the aesthetics of your property when preparing it for initial viewings. Think about the type of tenants you will be attracting based on the number of bedrooms, location and pricing, and then decorate your property accordingly.