Lewisham’s rental market is growing, and landlords can benefit from this. In early 2025, average monthly rents hit £1,757, an 8.7% increase from 2024. This is a great time to make your property stand out.
Regeneration projects are improving areas such as Catford and Deptford, and excellent transport links keep Lewisham connected to central London. Many types of properties are available here, from period terraces to modern builds, leading to solid competition.
The good news is that you don’t need a complete renovation to attract quality tenants. A few simple upgrades can help a lot. So, where should you start?
Essential Property Upgrades for Lewisham Landlords
Here are some essential property upgrades for Lewisham landlords:
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Know What Lewisham Tenants Are Looking For
Understanding your target tenants is essential. Lewisham has a diverse population, with numerous young professionals, families, and creatives, especially those working hybrid schedules. This means they want more than just a place to live.
Local renters look for modern living with practical features. They prefer open layouts, good internet access, energy efficiency, and smart storage. Being close to parks like Hilly Fields or Ladywell Fields, having easy commutes on the DLR or Overground, and walking to local cafés and co-working spaces make the area more attractive. Your renovations should reflect this focus on lifestyle.
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Focus on Upgrades That Offer the Best Value
Kitchens and bathrooms are important areas that tenants look at when choosing a rental property. Upgrading these spaces can be done without spending a lot of money.
In the kitchen, focus on simple upgrades: replace old cupboard doors, add a metro tile backsplash, and change out old taps for brushed nickel or matte black fixtures. Use laminate worktops that look like stone for a stylish touch without the high cost.
Replace the basin or vanity unit in bathrooms or upgrading to a rainfall showerhead.
Installing under-cabinet lighting or replacing old extractor fans improves functionality and gives your space a modern look.
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Use Colours That Appeal to Modern Renters
Tenants want to feel at home, and neutral colours help with this. Soft grey walls, warm beige carpets, and crisp white woodwork create a fresh background that many people like.
The home shouldn’t feel dull, though. You can add texture with budget-friendly options like wood-look vinyl flooring, matte tiles, or a striking pendant light above the dining area. A navy or sage green feature wall can add character while letting for future tenant choice.
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Choose Materials That Last and Save You Time
Rental properties experience wear and tear, so choosing durable materials is essential. Laminate flooring that looks like hardwood is both stylish and resistant to stains. In kitchens, composite or acrylic splashbacks are easier to clean than traditional tiles and grout.
For countertops, quartz-look options are better than laminate and do not stain easily. Consider large-format porcelain tiles in bathrooms, which have fewer grout lines and are easier to clean.
By choosing these materials upfront, you can save on repairs, reduce empty periods between tenants, and keep your property ready for tenants for years.
A 2024 report by Propertymark found that most UK landlords spend up to £1,000 yearly on basic maintenance. Refurbishments, such as updating kitchens and bathrooms, can cost about £3,000. This makes choosing the right materials a key way to save money.
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Make the Most of Every Inch with Smart Design
As more tenants work from home, a flexible design is very helpful. Even in smaller flats, make room for a desk or built-in shelves. With the proper chair and lighting, a window ledge can work as a workspace.
According to Aviva, 15% of homeowners in the UK plan to renovate their homes in the next two years, and many want to add a dedicated home office. This shows a growing need for flexible living spaces.
Maximise vertical space with practical additions like the following:
- Floating shelves
- Under-stairs storage solutions
- Foldaway wall-mounted desks
In family homes, create separate areas within open spaces for the following:
- Dining
- Relaxing
- Working
Adding multipurpose furniture like storage ottomans or wall beds – can be an affordable way to increase functionality.
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Upgrade Your Property’s Energy Efficiency
Upgrades that improve your property’s EPC rating can be necessary by law and smart for your finances. Simple changes like double glazing, loft insulation, and LED lighting can make a noticeable difference.
Smart thermostats and efficient boilers cut utility costs and attract eco-friendly tenants. Being environmentally friendly in a competitive market like Lewisham can be a big plus.
Landlords in Lewisham can check for government grants or local programs that help pay for energy-efficient improvements. These grants can lower initial costs and make properties more appealing.
“In a market like Lewisham, landlords don’t need to overspend to attract good tenants,” says a spokesperson from City Borough Housing in Lewisham. Focus on practical upgrades like modern kitchens, energy efficiency, and flexible living spaces that suit today’s renters – especially young professionals and remote workers.
Conclusion
You can make your Lewisham rental a more appealing home without spending much money. Instead, focus on thoughtful upgrades that match what tenants like. By making upgrades that match what tenants want and using stylish, energy-efficient materials, you can boost your property’s appeal in Lewisham’s competitive rental market.
Upgrading the kitchen, improving storage, or even creating flexible living spaces are all effective changes. Every slight improvement adds value. Start small, think smart, and turn your rental into a home that tenants will love and want to stay in.