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Best Flooring for your Rental Property
[lwptoc]Best Flooring for your Rental Property – We Ask Tenants What They Want
Finding the best flooring for your rental property is always challenging. It can be tempting to save money wherever you can, after all, you bought the property to make money. But when it comes to your properties, shouldn’t you be investing all that you can to increase rental yield and appeal to the right type of people?
In the long run, investing in quality products – such as flooring – means that you’ll save less in repair and maintenance costs and hopefully hold onto your tenants for the long haul. So what is it that tenants are looking for in in your floors?
What are the flooring options for investment properties?
Carpet is a great insulator and can reduce the noise – this is particularly beneficial in apartments. The downside here is that keeping carpet clean is very extremely high maintenance. You run the risk of messy and lazy tenants leaving stains in the carpet and creating odours that may result in your needing to replace the flooring altogether later down the track. Even respectful tenants know that life’s little mishaps can leave them with a stain and no returned bond.
Tiles are great option for investment properties because they are easy to clean and durable. They also range in price so this can be a flexible option to suit any budget. The downsides here are that they do not insulate the house very well so tenants will be spending more money on electricity to heat and cool the house. They can also crack and require the maintenance of cleaning the grout.
Floorboards are one of the most sought after options from tenants. They will be the most expensive to purchase and lay but they’re very durable and hard-wearing. They’re low maintenance for tenants and while they are susceptible to scratches, staining and fading, the hardwood variety can be refinished up to four times across their lifetime.
Laminate is a very affordable option and easy to install. It’s also resistant to scratches and stains but this option is far less durable than hardwood floors. While you might spend less in the beginning, you’ll need to replace the flooring far sooner and more often.
Vinyl is also an inexpensive choice which is easy to install and keep clean. Similarly to laminate, this is not a durable option – the vinyl can rip and tear as well as grow mold when water is trapped underneath.
What do renters look for when renting a property?
Image Property surveyed 500 tenants and found what they looked for when it came to the floors of their potential rental property. Based on the results from the survey, floorboards are the highest in demand with 39% of tenants choosing this option, closely followed by the 37% choosing tiles. Only 5% of tenants looked favourably upon carpet in their new rental home – a big no-no for landlords.
So why do tenants want floorboards over all the rest?
“Easy to clean and far more timeless than carpet or tiles… good in summer too!”
“Because they are easier to clean compared to carpet but not as cold as tiles.”
“Floorboards are durable, comfortable, low allergenic and easy to care for.”
“Easy to keep clean; I have allergies; they look good and go with most furniture; not as harsh as tiles on the feet; carpets can hide all sorts of nasties; I look for uncarpeted places whenever possible as rentals.”
Why do you need attract quality tenants?
Making your rental property more attractive to potential tenants means you’ll be attracting people that can afford a little more and will treat your property with the respect it deserves.
Finding reliable people to live in your property means that they can call your property their home and be there for the long run. This quality tenant ensures you’ll be provided with a realiable and ongoing stream of income – the key to successful investing.
On the other hand, a poor tenant could actually leave you out of pocket. A tenant that leaves your house in bad condition could result in expensive repairs and maintenance work on your behalf. There is the option of taking them to the tribunal but you have to weigh up whether this option is worth your time and money.
Opting for the best flooring for your rental property is just one method to and hold onto those good tenants. Keep them happy and you’ll be happier in the long run too.
