If you have a property to let, a loft conversion can be a great way to attract tenants, by creating extra living space from the unloved attic. It can also add potential revenue in the short term, and then again in the future if you decide to sell the property.
But whatever the reason for converting the loft, there are times when it’s additionally important not just to have the space, but to make the most of it! So when you’re letting a property, it’s particularly crucial to maximising the impact and advantages the loft room brings to daily living, as this can really set your property apart from others on the market, help to attract tenants and reduce vacant periods.
When your loft space is newly designed it can pay to consider the local rental market, as this can help you decide what the space should offer and how it should ‘look’. Then use this information to ‘stage’ the loft by decorating and arranging it in a way which really demonstrates the potential of this extra space and attracts tenants quickly.
Make the space a place
To present the loft space as a place prospective tenants want to spend time in, it’s important to think about why most residents move into this particular area, and how the room can help meet their needs.
Think about what purpose the room is going to fulfil - bedroom, playroom, home office, hobby room, there’s plenty you can do at the design, furnishing and decorating stages to customise your loft to a specific purpose.
So, if the rental market in the area tends to be:
If the school is for primary and junior aged children, staging the loft conversion could include:
If the school is a secondary school, but the family also has younger children, any of the options above would still apply. But additionally, staging the room as a teenage den / study / studio would add to its appeal for families with teenagers.
Throwing light onto the stage
When it comes to staging a room, the way you accessorise the windows can also enhance the room’s sense of place:
Layering the effect
After you’ve taken care of the windows, pay attention to the floor. Creating zones within the room can really show its potential and is easily achieved by using different types of flooring and rugs - durable for playrooms, luxurious for bedrooms, and cosy for chill-out zones.
Using rugs to emphasise the sense of place not only creates a warm, welcoming space which your prospective tenants can ‘see themselves’ moving straight into but also helps to dampen down sound, ideal if your target market is families.
Make the space spacious
In all cases, you’ll want to make the most of the space to maximise the property’s letting potential by appealing to tenants. Recommendations for maximising your loft conversion space include …
In-situ furnishings add to that high-specification finish which may command a higher rental fee.
But whatever the rental sector, offering built-in furniture as part of the space also minimises knocks and damage associated with tenants trying to get their own furnishings into loft rooms - stairwells tend to be deceiving when it comes to getting furniture into place. Thoughtful details like this make the idea of moving home much more stress-free for tenants, something which can help attract tenants to your property, rather than an alternative.
Painting walls and ceiling in same light tone can also expand the space, whilst allowing a practical, economical and quick to repaint between tenancies, so that the space appears bright, fresh and attractive to prospective new tenants.
For more ideas on how to save space in a loft conversion check out Abbey Loft’s Top Space Saving Ideas blog post.
Make the space moody
Adding an ambiance or mood to the room is another way to enhance both the size and purpose of the space, which could add considerably to the rental potential of the property. For instance ...
Make the space sensational
If your target market is upmarket and time and money allow, creating a sensational space is certain to make the most of your loft conversion. At the loft design stage, you could consider incorporating a mezzanine or a built-in bed to really dedicate the space, whilst adding a luxury en-suite, sumptuous textiles and rugs adds sensation and opulence to master suites.
Finally, making the most of a loft conversion in a rental property means acknowledging that sometimes tenants, particularly those on short-term tenancies, may need storage for items not being unpacked. Make use of eaves areas to retain a little ‘attic’ storage space, so that prospective tenants can make the most of your space without their own clutter can also help achieve lettings quickly, as potential tenants recognise that they can move in quickly and easily to start enjoying the loft room for themselves.