Renting out your Property during Lockdown
During Lockdown you have to work harder and even little be cleverer to get your property rented .
Here are 6 ways to help you rent your property faster.
1. Get the Setup Right
Setting up the property is very important; do you furnish the property or do you not.
Normally in a city center you need to furnish a property, but if the market dictates that you should furnish the property then you should furnish it. If you are waiting a few weeks to get it rented and it is not furnished, it may be costing you a lot of more money because you are not willing spend a little time and money on furnishing the property. So, make sure you understand your market and get the decision right.
2. Get the Price Right
You not only have to setup the property correctly, you also need to get the price right. Now is not the time to be greedy, if you over charge then you may lose out on getting your property tenanted quickly.
The rent that you have been charging before may not be appropriate now, you should look what the market is doing and what the competition is charging regularly for similar properties.
You may need to reduce the price to get it rented and or risk leaving the property empty. The market may be strong, and you may be able to increase price. This advice is relevant at any time but now more then ever.
3. Get your Marketing Strategy Right
Block viewings can generate excitement and can get your property let quickly. Today during Lockdown lots of people viewing your property is not practical and that is why you need to be creative to get interest in your property.
The marketing strategy must be done right. This is why photo and videos are very important, they must be appealing be able to help the tenant to understand visually the property makeup. This is an investment and important part of the getting a property let. You want to have the right photos to help the viewer know that this is the right property for them.
The next step is video tours, this is no longer a creative extra for adverts, it has become essential during 2020. Videos get properties let faster then just having a photo as the people who turn up to a viewing after doing a video tour is a better prospect and more likely to move fast.
The advert should be correctly designed so you are providing enough text and content to allow the prospect to understand the vital facts like room sizes, distance from station.
4. Be Flexible during Viewings
Landlords need to provide options to prospects more now during Lockdown to ensure diaries can line up. The prospect may be trying to see multiple properties and if you are only providing a few dates for viewing the prospect may not visit your property due to diary flexibility. An Agent can help but you need to make sure they have time to perform the viewings as the process for performing viewing is now longer then before.
If the property is tenanted it makes it more difficult, we are living in a Covid era now and the tenants need to be flexible as well as the Landlord. It is always a challenge to get access, some people will use it as an excuse and others will quite rightfully be concerned due to health reason. Being on good terms with your tenants are the basics that need to be in place.
5. Create the WOW Factor
During Lockdown you may need to add a little bit of a WOW factor like offering fast free internet, this could be a good attraction for tenants. Setting up internet can be a pain to set up. You can also offer free Netflix, it does not have to be super costly. Set yourself up to shine more than the competition.
6. Chase for Feedback
You should gather information on how the viewing went or what people thought of the video tour, this could turn a maybe to a yes. Always get feedback and you should respond quickly to feedback.
Renting a property is not easy, you will need to sharpen up and up your game during
We at Letting Options 4U do this on a day-to-day basis and we can help to get your property let on a long Term Guaranteed Rent basis. Please contact us to find out more.