How to use TARGETED MARKETING to FIND the PERFECT TENANT 🎯
#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Finding a property for rent can be challenging! But you will be surprised to know that Tenants are not the only ones facing the challenge, Landlords face an equal problem in finding Tenants.
Having a property or portfolio of properties won’t be much of use to you, if you are not able to fill them with good Tenants
Long gone are the days where Landlords had the upper hand. The competition among Landlords in UK is increasing as more Landlords are putting their property in the saturated market.
Marketing is really important to make your property visible to the best Tenants, you must focus on a targeted audience to get the best results.
Here are few ways in which you can use targeted marketing to find the perfect Tenant
🔹 It's not just the property that the best Tenants are interested in, it's the lifestyle, location and amenities that come with it
First and foremost, identify the best Tenants in your mind and write directly to them as your first KEY FEATURE on your property advert e.g. 'Perfect for 3 professional sharers' or, 'Ideal for young family'
Your advert will immediately invite your target Tenant to make contact, and most likely will make non-ideal Tenants understand the property might not be best suited to them
In terms of amenities, again... Think about your best made-up best Tenants...
For example, for the 3 sharers our second KEY FEATURE would be, 'Allocated off-street parking for 3 cars'
Or, for our young family, 10-minute walk to open park with playground
Continue with your list of amenities and build them into your KEY FEATURES (most online portals will allow 10 to be added)
Using Google Maps is an excellent way of determining amenities and providing walking/driving times/distances
Other KEY FEATURES we would recommend are: consideration for pets, parking status and EPC ratings
🔹 Use the power of internet portals, but careful not to go over the top (and be weary of multi-agency advertising)
As you'll most likely be aware, the 3 main property portals are Rightmove, Zoopla and On the Market
When registering with a Letting Agent, check to see which they're registered with
In most instances, Agents will be using 2 out of 3 (usually Rightmove + Zoopla or Rightmove + On the Market)
If an Agent is using all 3, don't be too swayed - our experience shows that having 3 over 2 makes no real impact on your ability to secure the BEST Tenants
Multi-agency listings: we strongly advise against launching your property with more than one Agency
Landlords make an assumption that the competition this creates between the Agents means they get a better service
In reality, the RESPONSIBILITY of finding a Tenant is diluted amongst the Agents, where as a Landlord you need Agents to be 100% responsible for your property
Price adjustments aren't as well considered, one Agent saying one thing, the other something else, which leaves you a little lost as to the marketing strategy
From a Tenant's perspective, seeing the same advert twice or perhaps three times with more than one Agent makes it unnecessarily complicated. Which one do they call? And... When offering on the property, we often see bartering such as, "I'll call the other Agent and offer less" etc which effectively means, you're the one the loses out (we can negotiate a lot harder when a Tenant doesn't have another Agent they can call about the same property)
Ultimately, Agents will will work smarter/harder/more focused/more effective for Landlords on properties where they are SOLELY RESPONSIBLE for the outcome
🙋♀️ Please can you help me TARGET the BEST Tenants to MAXIMISE MY INVESTMENT whilst REDUCING MY MAINTENANCE and VOID COSTS?
Yes sure, get in touch with EXPERT TEAM today... It's what we do all day, every day... We'd be delighted to speak to you about your specific circumstances 👍
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#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
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