If your rental property is currently on the market awaiting a tenant, it may be tempting to assume that your agent is in full control of the situation, and that sooner or later a tenant will materialise. But don’t be so sure! Sometimes an agent will take the same view and simply sit in hope, having apparently exhausted their own marketing options.
Many letting agencies simply act as a broking service that matches people to property. However, we are acutely aware that there is far more to successful letting than this alone. Indeed, nationally, about 25% of initially agreed tenancies fail to prove satisfactory for one reason or another.
Innovation in estate agency is evolving rapidly, and the use of certain technologies is enabling agents to offer added value to customers.
As you may have noticed, our offices are now sporting impressive interactive touch screens that can display our clients’ properties to buyers more effectively than ever before. Gone are the days of the faded window card. It is size, movement, vibrancy and relevance that now catch the public’s attention.
If location is fundamental to a tenancy, then mapping is surely the most obvious way to highlight location.
We choose to use locational maps on our property website as they make it easy for tenants to identify the property in relation to its surroundings. This is particularly useful when a tenant is considering a property that is slightly outside an area they might have preferred, as they can see from the map that the property is actually not that far away from their chosen area.
One of the property terms that can be confusing is the word “deposit”, especially among first-time buyers who have previously been renting.
For example, consider this statement: “When Jake got his deposit back he had enough for his deposit, although this was not enough to cover his deposit.”
There are three uses of the word “deposit” that, unless understood in their respective context can be perplexing:
Just as anyone can open up an estate agency, so they can also start up a lettings business, without any training, experience or qualifications. This should concern landlords, because there is far more to the business than meets the eye. In some ways, finding a tenant is the easy bit!
Some local sellers have approached us to sell their property following a less-than-impressive performance by an online alternative to “proper” estate agency. Although it is always tempting to say “I told you so”, we wouldn’t be so harsh with someone who has just been through the mill with the wrong choice of agent.
One of the first things a tenant will ask a letting agent when offered a property is “How long has it been available?” – and with good reason. Moving house is a huge event and it takes courage to commit to undertake such a decision – often with very little support other than pure instinct.