Rented property improvements 'may be on the rise'

News Category: Marketing

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Landlords and rented property owners may be turning to extensions and renovations as a means of increasing the letting value of their portfolios, according to an expert.

Recent research from Sainsbury's Home Insurance has revealed that the average level of expenditure on domestic structural improvements is set to rise this year.

This is despite the fact that the number of homeowners planning extensions has decreased by 39 per cent.

Andrew Leech, director at the National Home Improvement Council, suggested that this increase could be due to property letters undertaking work in order to improve the profitability of their business.

He said: "I wonder if this also includes private landlords who are doing extensions on the back of rented properties to get … a bit more space so they can charge more rent."

Mr Leech added that now may be a good time to undertake renovation work of this sort, as falling construction costs have led to increasingly affordable quotes being offered by builders.

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