How to Rent Your House Out
The Cotswolds, renowned for its idyllic landscapes and charming villages, offers an excellent opportunity for property owners to invest in the buy-to-let market. Renting out cottages in the Cotswolds can be a lucrative venture, attracting individuals, couple and families seeking to put down roots in the quintessential English countryside. If you’re considering investing in a cottage to rent in the Cotswolds, this comprehensive guide to renting your house in the Cotswolds will provide you with valuable insights and tips for a successful rental venture.
Choosing the Right Location
Selecting the right location is crucial for a successful buy-to-let investment in the Cotswolds. The Cotswolds has plenty of picturesque villages and historic towns to choose from. You may want to consider the local schools if your property is a family friendly home. Or near to the established road and rail networks for renters looking to be able to commute into the larger towns and cities – do head over to another article to read about the best places to live in the Cotswolds.
Property Selection and Investment
Consider the following factors when choosing a property:
- Size and Features: Consider the location and the likely rental customer when looking at the size and features of a property. If you’re the property is a small and cosy cottage it will suit couples, whereas larger properties are perfect for families. Consider the bedroom to bathroom ratio – renters will expect a master bedroom with an en-suite. Plus features such as open plan and eat in kitchens are still incredibly popular with all renters.
- Unique Selling Points: Look for properties with unique features that set them apart from the competition. It could be a stunning garden, period features, or breath-taking views of the Cotswold countryside. These features can enable your property to command higher rental rates.
- Renovation Potential: Consider properties that may require renovation or cosmetic updates. This provides an opportunity to add value to the property in the long term as well as increasing the rental income in the short term. Consult with professionals to estimate renovation costs and the return on investment.
Understand the Market and Rental Demand
Thoroughly research the Cotswold rental market to understand demand, occupancy rates, and seasonal variations. Analyse rental prices of similar properties in the area to determine competitive rates. At this stage you may want to consider engaging with a specialist local letting agent with expert knowledge of the Cotswolds lettings market. They will often hold the key to you gaining invaluable insights into the market trends and demand for cottages in specific locations.
Legal and Regulatory Considerations
Ensure compliance with all legal and regulatory requirements for landlords. Research and adhere to local planning regulations, obtaining necessary permissions or licenses if required. You will need to familiarise yourself with safety regulations, such as fire safety, gas, and electrical checks. Again this is where an expert letting agency can be worth their weight in gold. They can advise on all the legal requirements and where necessary recommend professionals who can help you to ensure full compliance.
Furnishing and Styling
Rental properties tend to suffer from wear and tear a little more than your own home – mostly due to tenants moving in and out. If your property is to be offered as a short-let you will want to opt for comfortable and durable furniture throughout. And you will need to ensure your fixtures and fittings are of the highest standard – think fully fitted kitchens, well equipped bathrooms and fully enclosed gardens. As an expert Cotswold letting agency we always recommend a neutral colour scheme throughout. Most tenants will have some items of furniture that they will want to seamlessly blend into their new home – and bring some of their own personality.
Professional Property Management
Consider engaging a professional property management company specialising in lettings in the Cotswolds. They can handle key tasks such as marketing, viewings, preparation of tenancy agreements, holding of deposits and ongoing maintenance and emergency support. This is especially useful if you are not local to the Cotswolds yourself, or if you simply just prefer a hands off approach.
Want to find out more?
Investing in a cottage to rent in the Cotswolds presents a promising opportunity to generate significant rental income. By carefully selecting the right location, understanding the market demand, complying with legal requirements, and working with a specialist local Cotswold letting agency, you can create a successful buy-to-let venture.
To find out more give us a call on 01993 684572 – or pop in to our office Monday to Friday 09.00 – 17.00 at 15 Witney Street, Burford, OX18 4SN. You can also send an email to olly@cotswoldlettingagency.com or fergus@cotswoldlettingagency.com and we will get straight back to you.
