One in five homes in the UK are now owned by landlords, that means there’s greater competition than even when it comes to renting out your property. Don’t let this put you off property investment though as, when you get it right, the financial gains you can achieve are huge – especially with the help of Nick Fox Property Mentoring. Nick recently helped one mentee make over £1,400 monthly net profit from a single property (£800 per month more than he thought was possible!).
There’s also more tenants looking for property now than a decade ago. The average first-time buyer was 33 in 2014-2015, compared to 31 in 2004-2005, and only 57% of private renters expect to buy a property in the future. This ultimately means, more people are renting property!
So with great competition among landlords and a great amount of tenants to appeal to, how do you make your property stand out amongst the crowd?
Here are our top 4 tips:
1. Smarten the outside.
Many landlords put their sole focus on the interior of the house, and forget about the curb appeal. Simple and cost-effective things can make your property more attractive from the outside, and it’s the first thing your potential tenants will see so it’s worth investing in. Keep all parts of the garden trimmed and tidy, and repaint the walls, window frames and front door if needed. This will give a great first impression for your viewing, and also draw attention to the property from people walking by.
2. Make the property as secure as possible.
No matter what area your property is in, security will be one of the top things on your tenants list. Ensure the windows and doors are as secure as can be, and install a burglar alarm if you haven’t done so already. Have multiple smoke alarms throughout the house too. It’s important to point out these safety features throughout the viewing, as otherwise your tenants may not pick up on them.
3. Go all out to impress at viewings, and do the viewings yourself.
People feel happier when they have the landlord perform the viewings rather than another company, so do this if possible. Take care of the obvious things such as ensuring your property is clean, presentable and smells good (some scented candles or infusers do the trick). Then, tailor your viewing to your demographic. If you are attracting families, perhaps have some toys the children can play with whilst the parents view the house. Offer a welcome drink that suit the demographic you’re appealing to too.
4. Highlight your properties USP.
Every property is different, but each will have USP’s that you need to address during the viewing. Perhaps it has a spacious kitchen, or has a lot of outdoor space that’s great for children, or has an open layout that is great for parties? Pick out the USP’s of your property and tell them to your tenants. This will help them visualise living in the home, and could seal the deal.
We hope these tips help you, both in securing viewings for your property and throughout the viewing itself. We’re sure doing these 4 things will help your property stand out for the right reasons, and help you secure great tenants.
If you would like more advice on how to make your properties appealing to tenants, get in touch with the team at Nick Fox Property Mentoring. We’ve helped many property investors just like you go to the next level and grow their property portfolio.
Tags: rental property
Trackback from your site.