Top 5 concerns for Landlords – No 1!October 19, 2017 10:26 am
As any good letting would agree, it is important to know what your landlords want and, just as importantly, what worries them. If we (the agent) can provide our landlords with confidence and peace of mind throughout the process they are far more likely to stay a landlord and even grow their portfolio. We have identified the top 5 concerns landlords have and over the next 5 weeks will show how LET it provide the solution.
No 1 – Property Sitting Vacant – It may sound obvious but if a landlord’s property is sitting empty it isn’t making the client money. Believe it or not, agents don’t want empty properties any more than landlords because whilst the landlord isn’t earning, neither is the agent! There are several key points here.
Firstly – Make it easy for someone to view the property. At LET it we carry out viewings 6 days a week including late nights to accommodate potential tenants. Tenants have busy lives and cant always take time off during the day so making sure people can viewing after hours and weekends can often make the difference in securing a quick turnaround.
Next – Ensure the property is looking its best. The rental market is highly competitive and tenants know what they want. If a property is tired and run down this will make a huge difference both in terms of rental income achieved but also void periods. Our ‘no nonsense’ approach means we will advise our clients what is required to ensure their property is occupied, even if its hard to hear!
Finally – Communication, Landlord’s need to know the agent is doing everything they can to secure a tenant quickly but if there is no communication the landlord assumes the agent is not doing enough or worse, nothing at all! At LET it we employ a policy of contacting our landlords once per week to provide feedback on recent viewings as well as suggestions to encourage more interest. This may be something simple like changing the colour scheme in a room or it may be that there are 15 similar properties available within a 1/4 mile which are cheaper so the rent needs adjusted but it is important to keep the the landlord informed.
NEXT WEEK – RENT ARREARS…