Maximizing Revenue and Flexibility for an Overseas Client
The Challenge
In 2022, we were approached by an overseas client seeking solutions for their upcoming tenancy agreement expiration. The client had a central apartment in Bath that had been let under an assured tenancy agreement for several years, limiting their personal use of the property. They wanted to explore options that would allow them flexibility in enjoying their apartment while increasing its revenue potential.
Our Approach
To address our client's objectives, we developed a comprehensive strategy that involved various steps to enhance the property and generate additional income. Our approach included:
Extensive Interior Renovation: We oversaw a thorough interior renovation of the property to improve its overall appeal and functionality. This included upgrading fixtures, refreshing the decor, and ensuring that the apartment met modern design standards.
Full Interior Design and Furnishing: Our team implemented a complete interior design plan tailored to the client's preferences and target market. We carefully selected furnishings, decor, and accessories to create an inviting and stylish atmosphere that would attract potential tenants.
Bespoke Contract Creation: To accommodate our client's desire for personal use of the property, we crafted a customized contract that allowed them to reserve specific weeks throughout the year for their own stays. This arrangement ensured that they could enjoy the benefits of their investment while maximizing revenue during the remaining periods.
The Results
As a result of our efforts, the property experienced significant positive outcomes:
Increased Revenue: The property now generates higher revenue due to its enhanced appeal and marketability. The interior renovation and professional interior design attracted more potential tenants, resulting in improved occupancy rates and rental income.
Personal Enjoyment: Our client now has the flexibility to utilize their apartment during specific weeks of the year, providing them with the opportunity to experience their property firsthand and enjoy the benefits of owning a central Bath apartment.
Enhanced Value: The extensive renovation, coupled with the attention to detail in the interior design, has not only increased the property's rental income but also added value to the overall asset. Our client has seen a positive impact on their investment's market value, making it a more attractive proposition for potential buyers or future rental opportunities.
By taking a proactive approach and tailoring our services to meet our client's unique needs, we were able to transform their property into a profitable and flexible asset. Our expertise in interior renovation, design, and contract creation played a vital role in achieving these remarkable results.
If you're seeking similar solutions to optimize your property's potential and increase revenue, contact us at Moa & Kin. Our experienced team is ready to assist you in maximizing the value and enjoyment of your property investment.
