5 Top Tips for Sourcing Good Tenants
Every landlord has an ideal tenant in mind – but how do you find the right one for your property? With a bit of careful preparation you can avoid timewasters and attract people that will pay on time, take care of your property and hopefully remain there a long time. Find out how with our 5 top tips for sourcing good tenants.
1. Market Your Property Well
Good marketing is key to attracting good tenants. There is no shortage of property listings online, so you have to ensure yours catches people’s eye. Hire a professional photographer if possible to take crisp, clear photos that are well-lit and taken at flattering angles. The property description needs to be written concisely to describe the property type and its features, without overselling it. There is real skill involved in marketing and hiring a letting agent can ensure it is done to a high standard so you get the calibre of applicants you want.
2. Choose the Right Letting Agent
One search online will reveal a lot of letting agents in your local area. But how do you determine the good from the bad? First of all you want to ensure you can trust them with your property and money, so look for accreditations such as ARLA Propertymark, NAEA Propertymark, The Property Ombudsman and My Deposits. They should take the time to understand your needs and not pressurise you into making decisions. Agents that are based nearby will have a good idea of the local market and how to get you the best value and tenants.
3. Check Out the Competition
It’s highly likely that tenants won’t just be looking at your property, so even if you find good tenants there will also be stiff competition. The rent level needs to be realistic and competitive and in line with what others are offering in the area. The best way to do this is to check out other listings and properties that are available for let. Review your rent rates regularly, as things do change, and it could allow you to increase your returns. If you want to go the letting agent route, they will know exactly how much the rent should be and how to give you the edge against other landlords.
4. Prepare for Property Viewings
First impressions count and one of the best ways to gain the interest of high calibre tenants is to ensure the property is in great condition. Put together a checklist so you cover every aspect of the property to prepare the front, interior and garden (if it has one). If you’re not already aware, read up on knowledge about the local area too – tenants will ask about things like council tax rates, internet connections, bin collections and more. Also try to make parking available for them on the viewing day so they don’t have any concerns about access.
There is a lot to cover in property viewings which is why many landlords choose to use a letting agency. Local letting agents will have in-depth knowledge of the area your property is in and will have plenty of experience conducting property viewings. This means they will be well equipped to answer any questions potential tenants may have.
5. Sell Yourself as a Landlord
The relationship you have with your prospective tenant will also go a long way to convincing them to put in an offer. Tenants want to feel the person that manages the property is trustworthy and reliable and that after they move in you can be relied on when needed. A little professionalism goes a long way, so be as open and friendly as possible and deal with any questions they have. Alternatively, you could use a letting agent to manage the property during the tenancy. You will still make all the decisions but the agency acts as the middle man and deals with tenant requests, so you can focus on other things in your life.
Letting Property in North West London
If you’re a landlord in the North West London area searching for the right tenants, Regal Estates can help. We have over 20 years of lettings experience in the NW10 area, helping countless landlords let their properties successfully. By choosing Regal, we will help you at every step of the lettings process from marketing your property and finding suitable tenants to drawing up contracts and managing the property itself. We offer a range of lettings services to suit your needs. Contact us today on 020 8459 2530 or email email@example.com.
How to use Dulux’s Colour of the Year 2024
November 29, 2023
If you are looking to redecorate, why not consider Sweet Embrace™? Here are some ideas of how to use the current Dulux Colour of the Year.
New electrical check guidance for landlords
November 20, 2023
The safety of tenants has become of paramount importance in the private rental sector, and rightly so. One of the areas that has been improved immeasurably is electrical safety and now new guidelines have been issued to provide greater consistency when it comes to checks.
Leasehold reform formally confirmed as a Bill
November 13, 2023
On 7th November 2023, the King’s Speech marked the opening of a new session of Parliament. In his first address of this nature, King Charles III announced the Government’s key priorities for the year ahead and with a General Election expected within the next 12 months, the contents were hotly anticipated.