A Landlord's Guide to Finding Tenants
Are you finding it hard to find a tenant?
This can be a problem for many landlords and can not be only frustrating but expensive. I've been there and it is not a nice place to find yourself. I have been a landlord for over ten years and have learned to minimize the time a property remains empty. For every landlord having just one buy-to-let costs money EVERY day that it is not let and it eats away at your profits.
I have put together the landlord's guide to finding tenants and with these tips you can increase your chances of finding tenants quickly and therefore minimize the amount of time your property is empty for.
Use different types of advertising
A tenant can not find your property unless they know it is empty and available to let, therefore the key is to advertise, advertise, advertise. Here are a few ways in which you can advertise:
• Local shops and supermarkets eg window / pin boards
• Local newspapers
• Word of mouth
• Online property portals – Rightmove, Zoopla and Findaproperty.com
• Letting agent – these can be expensive therefore I would stick to online agents.
Advertise your property on the largest property websites, like Rightmove .
This is the best effective way to find tenants although you can not advertise direct, therefore you may need to use a letting agent. Using a high street letting agent can be cost but if you use an online letting agent, they will advertise your property on Rightmove at no, yes no or very little cost.
Ensure that your property is well presented
It is important to put yourself in the tenants place. Think, where would you like to live? Somewhere that is not maintained or presented well or vice versa. So the key once you have found tenants is to ensure they want to let your property. If your property is presented well then it will be snapped up quickly as long as it is correctly priced.
Make sure the price is right
The easiest way to check if the rent is right, is to find out what other properties are renting for in the area. Also if you call a local letting agent they will often tell you the information you are looking for. They have the facility to look at historical data in the region and can see prices properties similar to yours have rented for.
Ensure that your advert packs a punch.
When advertising your property you need to make sure it is appealing for the reader. Again put yourself in the tenants place and think 'what would I want if I was a tenant?'. Think about all the key features of the property and make sure they are included in your advert eg if your property is walking distance to the local town center then mention this. This will help in making sure you get more inquiries and the right type of inquiries.
Once you have worded your advert correctly, make sure you include photos where possible. Good quality photos can make the difference as to whether a person clicks on your property over another, first impressions count.
If you advertise enough then you will extremely find tenants to let your property.