As a property investor you need to have your property let 52 weeks of the year or as close to that as possible. The summer can be a time of transition for many people, and you will often have tenants moving on at the end of an academic year for new jobs or courses, so take a look at our five top tips on letting your property this summer.
A picture is worth a thousand words and that is never more true than when it comes to advertising and successfully letting your property. The best property photographs are taken by professionals in good weather. Rain and grey skies might be the most common British weather but make the most of a bright sunny day to update the pictures of your property. This is especially important if you have made any changes or improvements since your last set of pictures or if they aren’t particularly great photos. A fresh set of images taken on a light and sunny day will help you to let your property.
- Outdoor Space
The summer months may not be as warm as we hope for each year, but all of us like to take to the garden whenever possible and of course enjoy a BBQ or two over the summer. One brilliant way to increase your letting chances this summer is to maximise on any outdoor space by showing off whatever you have to its best potential. Keep the lawn cut, edges tidy and thinking about getting some hanging baskets or flowering plants to brighten up the garden. If you are letting the property as furnished you could provide some garden furniture.
If you want to let your property you have to have it ready and available for viewings. If you are going away on holiday this summer, then you need to make sure that you have someone on hand to do viewings for you or appoint an estate agent or property manager to do it for you. Being unavailable when prospective tenants make enquiries will just lead them to look elsewhere.
The summer can be a time of change, with tenants moving on and new prospective tenants arriving, particularly in university cities. Make sure you are advertising your property well and in the right places for the clientele you are looking to attract. For example; University websites, noticeboards and student unions are good places to advertise if you have a student let. Updating your marketing from year to year is always a good idea so take some time over the summer to review your advertising.
- Short term lets
One way to make sure your property is filled at all times is to do short term lets. Sites such as Air BnB can offer an excellent opportunity to do this, particularly if your property is in a city, seaside or picturesque location where it could be let as a holiday home. Short term letting allows you to charge more and can be a useful gap filler before starting a new contract with longer term tenants at the start of the academic year.
For any further advice on your property management business do contact the team at Nick Fox Property Mentoring. We have a range of resources, books, courses and mentoring programmes to help you.
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