Sat 11 Aug 2018 View all news articles

Top tips for landlords renting a property


As a landlord renting a property, there are a few things you should consider when choosing a letting agent. There are hundreds of letting agents around the UK and in the Midlands area, but it is important to choose a company that is local to you, whether you are based in Leicester, Nottingham, Birmingham or Sheffield.

Your letting agent should be there to look after your property management, acting as a middle man between you as a landlord and your tenants.

LANDLORDS LOOKING FOR ESTATE AGENTS
As a landlord, there are some things you should consider before investing in a letting agent to manage your property. Before you do anything, you should seek advice. It is important to see what other people are saying about the letting agents. You can look at Google Reviews and other network platforms to reach out for advice.

There are many other landlords out there in the same boat as you, so don’t feel like you have no one to contact. It maybe you are un experienced and need advice on where to start searching. Alternatively, it may be that you have a large property portfolio and need to expand your target audience. Listen to your gut and consider which letting agents’ others recommend.

Local knowledge is important when it comes to choosing the right letting agent. As a landlord, you need your letting agent to be familiar with local knowledge, pricing, trends etc. This means that when your property is listed, it has the best chance of fitting into the market and returning the most yield. It would be pointless and even detrimental for a landlord to guess the right price for their property. Have your estate agents evaluate the value of the property, considering size, appeal, amenities, location and much more. If you price your property too low, it may entice the wrong type of customer and leave you as a Landlord out of pocket. Alternatively, priced too high may put off potential tenants and leave your property uninhabited.

Building a good relationship with you letting agent is important if you are struggling to find the right tenant for your property. Talk to your letting agent about the type of tenant you are trying to target, this will come in handy when optimising your listing. Are you trying to target young students with a budget property rental, or are you trying to target affluent growing families that need modern space in the city?

Once you understand who you are trying to target as a landlord, it allows your letting agent to push your property in front of the right customers on the appropriate platforms. They have the knowledge an experience of where your customers are looking for property rentals and how they like to be contacted.

Source: Property Forum

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