If youre interested in finding a better tenant faster, then you can download our free eBook: “How to Find a Better Tenant Faster”. The eBook is full of useful tips to finding a great tenant for your property.
The whole aim of your buy to let investment is to provide you with a sustained, long-term income and that means finding tenants to fill the property. The internet has changed the way the world works and there are so many options available to landlords when it comes to their buy to let investments.
Free eBook
If youre interested in finding a a great tenant for your property, then you can download our free eBook: “How to Find a Better Tenant Faster”. The eBook is full of useful tips to finding a great tenant for your property.
You can find information on buy to let home insurance, tenants rights, gas and electricity safety requirements and much more. The internet is also a great place to advertise. With various websites available for you to advertise your property, you can spread the word quickly and for little if any outlay. Practically every lettings agency will have a website, meaning you could market your property through them to reach an even wider audience.
However, the emergence of the digital world does not spell the end of the traditional ways of finding tenants. Word-of-mouth, shop window advertising and local newspapers all represent tried and trusted ways of letting people know that your house is available for rent.
So which is the best way of going about finding tenants? The key is to weigh up the pros and cons of each and decide from there.
The internet – is it the way forward?
There is no doubt the internet has changed the world. It is a place to network, keep in contact with friends, shop and find out about almost any topic. It is also a place where people look for properties. All lettings agencies have websites these days because the internet allows prospective tenants to find places in a certain price bracket and location much easier than calling around various agencies and speaking to people over the phone. The convenience of the internet means you cannot ignore it as a way of advertising your property.
Lettings Agents
You could sign up with a lettings agency and let them market your place via their website, or you could place adverts on sites such as Gumtree or specific property portals to reach as wider audience as possible. Social networking sites such as Facebook and Twitter also represent a way of spreading the word. Property forums are another option, as are local newspaper sites.
How much you choose to invest in online marketing is something to think about carefully. For example, going via the digital route could prove a wise move if you are aiming for students or young professionals as these are internet-savvy individuals who have grown up with the technology. If, however, you are aiming for those in their 50s or over, the internet may not be so useful, as these groups are less likely to use the technology on a regular basis.
Advertising on websites will incur monthly costs so it is worth doing plenty of research and finding out which sites are most visited and have the best reputation before parting with your cash.
Traditional methods – still relevant?
The emergence of the internet has not spelled the death knell for the more traditional way of marketing a buy to let property. If you go through a lettings agency, they will promote your house in their high street outlet as well as their website, meaning you can take advantage of both. Many people enjoy speaking to someone face-to-face when deciding where to live, which is something the internet cannot deliver. A lettings agent can take prospective tenants through the property and answer any questions they may have.
Shop Windows
Advertising in shop windows is still an effective way of generating interest as well. In student areas in particular, this could be a cheap yet highly profitable way of marketing your home. Local newspapers are another option available to you. Again, these are relatively cheap and offer you an opportunity to find tenants from the local area.
Where traditional marketing suffers against internet promotion is the size of the audience you can reach. The internet is a global phenomenon and your property can be seen by a person from Edinburgh and another from Dorset within seconds of each other. Local newspapers and shop windows will only be seen by those in a particular area, therefore narrowing your scope in terms of who you can attract. While there are definitely cost savings to be made, it is important to weigh up the most effective way of spending your money.
Solution – the best of both worlds?
Both online and offline options offer many positives and can help you drum up a lot of interest in your property. As both have their advantages and disadvantages, you could enjoy the best of both worlds and split your budget between the two. The deficiencies of one are compensated by the other, so a two-pronged approach could see tenants queuing up to see your property in no time.
Dont forget for further information you can also download the JDP and G R Phelpss free eBook – How to find a better tenant faster. It has some fantastic information in there, including:
- Checking the market
- Preparing your tenancy agreement
- Sample tenancy agreements
- Sample Inventory
- Legal rights of tenants and much, much more.
All you need to do to receive this free eBook is to subscribe to the JDP website for free.
Article provided by Simple Landlords Insurance
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