Landlords can often get a raw deal in the property industry. They spend a great deal of money on estate agent fees, refurbishing the houses they want to let and dealing with the day-to-day costs that come from general wear and tear from the tenants.
For most though, problems can arise straight from the start where they are just unable to find tenants to fill their houses on offer. If you find yourself in this predicament, follow these quick tips that will help market your property much better.
If you haven’t been marketing your property online, you're missing out on a massive chunk of potential tenants.
A whopping 95% of property searches are online nowadays, which means that only 5% of people looking for a place to rent will actually have a chance of seeing your property!
Sites such as Gumtree and Craigslist are invaluable in marketing your property. Ensure you have good pictures to promote the house with, as no one will consider approaching a house to rent if they can’t get an idea of what it looks like first.
Why not try your hand at social media too? After all, everyone uses Facebook so it's the perfect place to get your houses or flats seen! You could set up your own landlord Facebook page and post statuses detailing info about any places you have to let.
Make it Spic and Span
Ensure that the property you are letting is as presentable as you can make it. A clean, fresh and tidy house will make a massive impression on prospective buyers.
Remove any mould or dust from worktops, walls and floors, as these are the main areas that will be scrutinised when tenants come to view your house. Chances are, they will have seen several other houses already, so make yours stand out by being the cleanest.
Price is arguably the most important deciding factor when it comes to picking a place to rent – if it's not affordable, it's not going to get let no matter how nice the place it!
Make sure that your rent is a realistic figure and that you’re not pricing yourself out of potential tenants. Set your price at the right level and you’re instantly opening your property up to a potential bidding war.
Of course, when it comes to price you have to consider who you are targeting. If it’s students you’ll need to find out what counts as a competitive rate, otherwise if it’s too expensive you just simply won’t get any interest.
Sweeten the Deal
If you’re still haven’t found the perfect tenant then try enticing people in by offering perks like free broadband, a nice big T.V to have in the living room or the water bill included in the price. Tenants love to see little savings like that and they can help your property stand out from the crowd.
So to recap, the essential steps are to ensure an online presence – through social media and an online letting agent –, to market the property, to make sure the house is as clean as can be and to check that the price is right.
If you’re a landlord who has any tips and trick of the trade to share then comment below!
Image by Nikki Mahadevan