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Landlords advised to install engineered wood flooring to increase value

Faced with dwindling profits, landlords are looking at ways to increase revenues. A property expert has suggested that installing engineered wood flooring can increase the rental value of properties.

There has been a downturn in buy-to-let investment. This is partly due to government changes, the increase of stamp duty on second properties and stricter lending regulations that make it more difficult for landlords to obtain mortgages. Although landlords are having a harder time, there are still profits to be made from buy-to-let investing provided that the necessary changes are made to make the business more efficient.

Tenants are prepared to pay more for luxury properties. Solid wood flooring is a very desirable feature of premium rented property. The cost of installing sold wood floors is prohibitive for many landlords. Nigel Barlow, writing on the website About Manchester suggests installing engineered wood flooring to attract people who want the look of natural wood. He says:

“It is true that renters love the look of wood, so that might attract renters, but you have options like Parador wood floors. This type of flooring is still made with real wood. The only difference is that it is engineered wood. You are going to be able to provide your renters exactly what they want at a fraction of the price.”

Installing engineered flooring in Wirral and Cheshire rented properties as part of upgrading the them to luxury status could increase the profitability of buy-to-let businesses.

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