Today’s housing market is sending more and more people into the rental sector. This is great news for both landlords and tenants. With so many people looking for rental homes, very few properties are left unrented for long periods of time. Whilst those looking for a property will often find a wide variety of options and can narrow down their search to their specific needs and wants.
With this in mind, do you know what you should do to get your property rented as soon as possible. Here’s our tips for finding the right tenants:
Know The Market
You will need to make sure that you are priced appropriately. There is no tenant in the world who will pay more for your property, when they can get exactly the same set up at half the price. Being priced in the right bracket will mean that more prospective tenants even take the first step to renting your house.
Target Your Audience
If you are located in the catchment area for a good school, market your property to families. If you are right next door to great transport links to a big city, then you should be aiming for commuters. Ultimately, you need to know the strengths of your location and what sort of person will be looking for that very scenario.
Be Over Protected – Legally
Buying the right landlord insurance will mean that you are not worried about what might go wrong. If you are protected for the worst case scenarios, then you won’t feel the need to stress about them. If you are worried about what you should know, there is a great Homelet e book for you to read.
Compare Your Coverage
Before you buy any landlord insurance, you should visit homelet.co.uk/landlord-insurance/ and see what the policies offer. Some landlord policies will provide legal cover for almost everything, whilst other will offer the absolute basics. Comparing the different policies will allow you to find the policy which most closely ties in with your needs and your budget.
Consider Both Furnished and Unfurnished Offerings
Tenants come in all shapes and sizes and with all kinds of previous renting experience. If someone has rented for years, they might well want to being all of their own furniture with them and will not need anything from you. Likewise, is someone is entering the rental market for the first time, they might literally not have any furniture or fixtures at all. Owning a toaster and kettle might even be a stretch for some people when they first start out. Offering both options would increase your potential audience and make your property more attractive.
The growth of the rental market means that you could be facing more competition for tenants than ever before. Following our simple guide will help to make sure that you are pitching your property at the right audience and, therefore, mean that you rent out your property sooner.