Have you inherited a small flat that you are wondering how to repurpose for a profit? Rental properties can be a huge income boost to your household if you’re in a position to offer a fully equipped flat.
Size, when it comes to rentals, is not a decisive factor. A lot of tenants are either single or in a couple, which means they have limited needs for roomy interiors. However, focusing on solutions that create a functional rental can make a big difference.
Your tenants don’t want to compromise on comfort or functions. Therefore, they want a usable and smart home. Can you turn your small flat into an attractive rental? The answer is yes! Here are some of the best tips to maximise the space available.
You can’t beat smart storage ideas
A small room can feel comfortable and cosy if you have options to manage the clutter. Storage solutions are an indispensable addition to turn your small property into a desirable rental home. One of the most important lessons in space management is to use your vertical space. Too many rentals focus on taking up cupboard or floor space. However, you can use the wall to hang laundry baskets or add a spice rack in the kitchen, for instance. While it doesn’t mean you can cover walls in racks and shelves, smart additions can make your space feel functional and purposeful.
Choose hard-working furniture
In a small home, your furniture needs to work hard to make up for the lack of space. As such, if your buy-to-let is furnished, you want to look for multi-purpose items, such as a divan storage bed that can keep all the bed sheets and towels in one place. Some of the preferred furniture solutions include:
- Stackable and foldable chairs for guests
- Shelves that act as floor lamps
- Duty box mirror that opens on a set of shelves
Compact appliances that fit in small gaps
Just because you live in a small home doesn’t mean you should compromise on comfort. Small kitchens, for instance, tend to get deprived of appliances because they don’t fit within the space. However, compact appliances such as a narrow fridge or dishwasher can turn a tiny kitchen into a purposeful area that can tackle all the challenges your tenants need. Most tenants expect to find:
- A fridge and freezer
- A cooking hob and an oven
- A microwave
- A washing machine
Optional additions that are always a bonus include:
- A dishwasher
- A tumble dryer
Don’t shy away from colours
Most landlords are tempted to stick to neutral colours in a tiny space. Mongolia is a favourite in rentals! However, if you’re going to give life to your rental, you want to be smart about colours. Why not hire a designer who can create new dimensions with smart colour placements and depth contrasts? A colourful wall, for instance, can be a stylish accent that adds depth to a small room. Natural light and mirrors are some of the most common decor tips to give the illusion of space.
A smart and strategically equipped rental can transform your small flat into a resourceful investment. As mentioned, tenants are not always worried about the square-foot dimensions of the property. Most are looking for a place that meets their expectations and fulfils their needs, which you can do even with a small rental.