The demand for privately rented property in the UK shows no sign of slowing down, so the fact that your property is still sat there empty must be incredibly frustrating. Although there’s a demand, that doesn’t mean that tenants don’t know their stuff. They are more informed than ever before, and if your property doesn’t meet the grade, they will just walk on by.
So why could they be rejecting your property?
Have you done your research to see what the going rate is for similar properties, or have you just done your figures and decided that’s the price what you want? Tenants will be actively looking for property so will have a strong sense of the market and the price they are willing to pay for a home in a particular area. If you price your property too high, you will put them off instantly and they will continue their search elsewhere.
If you’re unsure about what you should charge, seek expert advice from a local letting agent such as ourselves.
How it’s presented
Although they’re renting a property, tenants are looking for a home. With getting onto the property market being tough, renting is a long-term necessity for many. So if you’re thinking of cutting corners and not taking pride in making your property look like a home, you will either attract the wrong type of tenants or won’t attract any at all.
Tenants are willing to pay a premium for those properties where care has been taken to put in some quality finishes and luxury touches. But a word of caution: make sure you match your property to the need in the area. We can give you insight into the type of tenants that are looking for a home in your area, and what is important to them.
First impressions count, and as a landlord we know you could be pulled in different directions and possibly be short on time. You may not be able to return calls promptly, or lack of time may prevent you from being flexible enough to meet all viewing requests. How you handle their initial enquiry will impact on what they perceive their tenancy with you is likely to be like.
Tenants want a smooth tenancy; they want the security of knowing that any issues will be resolved swiftly with concerns listened to and solutions found. If your time is stretched and their first impression is marred, tenants may get the impression that the process going forward would echo this initial interaction.
Don’t give them the wrong impression; if your time is limited then outsource this part of the process. It may even be worth looking into having your property managed by us to provide your tenants with a consistent and efficient service.
At Rees & Associates we want to ensure your property is in demand and never rejected. For more advice on how to maximise your investment, contact our team on +44(0)1223 810055.