In the UK rental market, homes are in demand as prospective tenants outnumber available properties, but marketing is still essential to attract the most suitable tenants. To help focus your marketing campaign, here’s what to consider.
Identify tenants
More often than not, properties naturally lend themselves to a specific demographic. For instance, flats in cities typically appeal to young professionals, and university towns are more likely to cater to HMO landlords looking for students.
Narrowing down the tenant type can help you identify the most appropriate platforms to market the property. If you’re targeting a specific area of the rental market, such as holiday lets or a particular vulnerable group, such as refugees, remind landlords to speak to their insurance provider. Both can impact the type of policy needed, but seeking advice will ensure the policy is tailored to suit the property’s use.
Organise property marketing material
Photos should show rooms in natural light and be of good quality – investing in a decent camera to take high-resolution pictures can make all the difference.
If a rental is partly or fully furnished, rooms should be tidy and clutter-free. If you feel repositioning furniture would show off an area to greater effect, don’t be afraid to ask to move things around.
You can complement static photos with a virtual tour of the property. Videos aren’t solely for large homes with lots of space to show off; they can also be just as effective at marketing smaller properties.
Know what features to highlight
When you have a tenant type in mind, it’s much easier to identify selling points. For example, outdoor space for families, office space for professionals who work from home, or off-street parking for anyone living in a busy city flat.
If there’s a garden, it should be presentable. Uncut grass or weed-filled beds don’t just demonstrate a lack of care; they suggest that the garden may be too much to look after and could put people off.
If properties have a point of difference, make sure to include it in the listing. This could be that the property is pet-friendly or has already been adapted with particular disabilities in mind.
Set the rent right
Be mindful of local rent levels. If landlords are trying to persuade you to market the property for a lot more than the area or property commands, be honest with them. A simple comparison showing landlords similar local properties and their rents should make your point clear.
Remember to be flexible too. Some tenants might be willing to commit to a longer tenancy for a slightly lower monthly rent.
Remember to set clear instructions in the tenancy agreement about how much rent costs and when it must be paid. It can also help to specify any payment methods – for example, provide account details or indicate if you use an online payment portal.
Plan the right time to launch onto the rental market
You should be aware of local trends, for example, if your area serves local military bases, you’ll be tuned into when new deployments take place. Similarly, if properties are aimed at students, October and November are typically when students start looking for accommodation.
Generally, rental queries start to rise in spring with prospective tenants thinking ahead. By summer, there’s often a surge in enquiries and viewings as families look to move before the school term starts again in September.
How lettings agents can support landlords
If you provide a fully managed service, landlords will often seek guidance and advice from you, particularly if they are first-time or accidental landlords.
Helping them navigate landlord insurance options and features such as rent guarantee insurance can reassure them that they’re financially covered should the unexpected happen.
For more information about our services, and how we can help you support your landlords, contact us on 01603 649727.
