Rental Property Renovation with Extension

THE PROJECT

This rental property renovation project was a client who was a landlord in North London. We often get work in the buy-to-let sector as landlords are naturally always very keen to control the costs of their projects. By organising and monitoring their building projects for them, we can ensure their renovation projects are carried out as cost effectively and quickly as possible and give their bank the reassurance they need to secure their finances.

The property was a three bedroom semi-detached house. It had been a rental property for several years and the landlord had decided to extend and modernise the house to improve the quality of the accommodation and so boost his rental income and yields. Planning permission had been acquired to add a 48 square metre double storey extension and the house was then to be reconfigured and refurbished. The building project included adding a new master bedroom with en-suite bathroom, a new family bathroom, decoration of the entire premises, a new kitchen diner and a downstairs cloakroom. Work was also needed to improve the external areas including the drive and garden.

THE CHALLENGE

When working on a commercial project such as a rental property renovation it is even more important than normal to ensure that the project keeps both to programme, and to budget. Our landlord client was keen to use CLPM project management to ensure that he got the best possible prices from the builders, as well as to ensure it was completed as quickly as possible. That way he could minimise the period of time the property was unoccupied and so not generating income. Having an expert oversee the works was also a requirement on his bank.

THE SOLUTION

We started by taking our clients architectural plans and structural engineer’s drawings and checked them to ensure all of the information was clear and consistent. Once this design review was completed, we then drew up a schedule of works for our client and prepared the tender documentation. Together with our clients we agreed a list of suitable local builders to approach and then met with them and briefed them on the project. Once the tender returns were received we then analysed them and helped our clients decide on his build team. We then prepared the building contracts and supported the build onsite in the role of Contract Administrator. This involved regularly vising the site and holding weekly meetings with the builder. We liaised closely with the build team to ensure any issues or queries were dealt with quickly. We also checked the progress of the works and versus the plans and signed off the invoices for payment. At the end of the construction phase we also dealt with the snags and defects and once these were resolved we arranged the release of the retention figures.

THE RESULT

We’re pleased to say the high level of organisation early on and throughout the project meant the works went very smoothly and our client is very pleased with his new property.

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CLPM Services used by our client:-

Design Review and Schedule of Works. Tender Management and Analysis, Builder Appointment and Contract. Bank Monitoring Services. Contract Administration role with main contractor with site inspection. 

If you’re a landlord and own a residential rental property that needs to be refurbished, it makes sense to invest in professional advice and support from CLPM. We can ensure your renovation project is delivered to the correct specification, as cost effectively and quickly as possible.