Renovating a flat to let: which works raise the yield and which don't

One of the most common mistakes property investors make: spending on renovations that don't translate into higher rent. The decision to renovate has to be made with numbers, not aesthetics.

The works with the best ROI for letting

Painting: The item with the best ROI. A well-painted flat lets faster, avoiding void periods. Cost: €1,000-2,500. Immediate payback.

An updated bathroom: A basic bathroom renovation for €3,000-5,000 can increase the rent by €50-100/month. ROI in 3-5 years.

Floors: Replacing worn-out floors can push up the rent. Laminate flooring: €3,000-6,000 for 70m². It pays off if the current condition is putting tenants off.

Works that DON'T usually pay off

• Full renovations of flats in the mid-to-low rental bracket
• An open-plan kitchen if it requires major building work (it only pays off in premium flats of 80m²+)
• Central air conditioning in small flats

The golden rule: the 10% limit

Don't spend more than 10% of the property's value on renovation before letting it for the first time. Above that threshold, the payback period becomes too long.

Analyse the potential before you renovate: Use RadarPro to estimate the market rent and the yield after renovation in your area.