How can Umega increase your property investment value through refurbishment?
You may not be aware but we have a dedicated Project Management team at Umega supported by a pool of fantastic contractors who can take care of any refurbishments on your behalf. We can carry out anything from a simple lick of paint or new kitchen to a full property refurbishment and we offer this service to our existing landlords and to new buy to let investors.
What do tenants want? – We recently shared blog outlining the biggest tenant-turn offs when it comes to renting a property and bad décor and dated kitchens and bathrooms were right up there! There’s no doubt that you can enhance your property hugely by carrying out a refurbishment and this will have a positive impact on prospective tenants, increasing likely rent and reducing any void periods. It’s also much easier to monitor wear and tear in refurbished property where installations are brand spanking new.
How much more rent can I expect? – Our projects team can give you a rental figure pre-refurbishment and a rental estimate post-refurbishment so you have a full picture of how much additional rent you’ll achieve after investing in a refurbishment. It’s also worth remembering that by investing in your property you’ll be increasing the value of your asset in case you’re looking to sell the property or re-mortgage at any point in the future.
Timescales – We can pop into your property mid-tenancy and feedback to you on our suggested improvements so can play well in advance to take care of any upgrades when the current tenant vacates. We also manage to plan some refurbishments for periods when tenants are on holiday or not using the property so that they come back to a greatly improved property and you don’t have to have the property sit empty when refurbishments are taking place.
Umega Project Management – The Umega projects team has loads of experience upgrading properties throughout Edinburgh and Steve, our project manager has been part of the Umega family for over 8 years so knows our rental portfolio and our contractor list very well. We charge a 10%+VAT project management fee on the total cost of the refurbishment and this is normally paid in instalments as agreed in a detailed plan prior to works taking place.
Case Study – 1 bedroom property in Broughton – Click here to see an example of a refurbishment we recent took care of in the Broughton/New Town area
Want to find out more? – If you’re interested in Steve, our project manager, visiting your property to make his recommendations on upgrades, providing a quote and detailed plan for these works and to give an estimated rental figure post-refurbishment please just email Steve here