When did you last see your property? Have you been letting it for quite a few years now? Is it proving harder to let each time now, rather than when you first bought it?
Lower tenant demand makes letting tougher in Central London
Too many properties are currently chasing too few tenants – especially from overseas. Dropping the rent is not what landlords want to do, as their overheads have not reduced. So, what else can be done to make your rental property more attractive?
What influences an incoming tenant’s choice?
Not only the rent level, location and size of the property. It’s also the style and condition that will sway a tenant’s choice. Does your property tick all the boxes, or does it have an ‘Achilles heel’ which is putting people off? These could include tired and faded Décor, worn Carpets and dated Furnishings, not to mention worn out Appliances – or perhaps a lack of modern day ‘essentials’ such as microwaves, dishwashers and power showers.
How does a landlord know what needs changing?
This is usually brought to light when prospective tenants view your property. A bright and pro-active agent – when accompanying the applicants – will encourage them to say what is putting them off and will feed these points back to the landlord.