The benefit of the feedback you get from your agent cannot be overestimated. Agents spend their days talking with tenants so they know exactly what tenants want and can quickly react to trends in the market. Fluctuations in the market occur for a number of reasons throughout the year, (which could be the subject of another blog) and a good agent is an excellent tool for measuring demand. This blog explores how best to utilise this valuable resource.
Your agent should give you regular feedback on viewings at your property. Make time for them to do this for you, tell them what methods of contact you prefer and when you like to be contacted. Some landlords like to be called each time we visit and others prefer a quick email, some want a weekly roundup.
You can do your part by remaining receptive to what your agent is telling you. It is much easier for an agent to advise you if you are clear about what you are, and are not, prepared to consider in respect of tenants’ requests. These may include: removing or providing furnishings; negotiating on rent; agreeing move-in dates; and improving décor and maintaining the property.
It might help for you to have a best scenario in mind, and an idea of your lowest limits. For instance the table below shows what you would really want, but gives the agent an idea of what you might be able to accommodate if a tenant requests it. You don’t have to prepare it in such a formal way but it might help you to list them in a way that you find appropriate, and then discuss the points with your agent. Don’t forget to keep re-evaluating this throughout the process if things change.
Will not accept
Rent £1000 per month
£900 per month
Less than £880 per month
students with guarantor
students without guarantor DSS tenants
Furnished as it is
removing any furniture apart from the beds
adding furniture or removing the beds
Décor as is
Painting the living room and kitchen and external paintwork
Painting any other areas or replacing windows/doors
Move in 1st December
2 week lead time
More than a month lead time without increasing the rent
If you have laid out your wishes to your agent in this way they will still bring offers to you – indeed they are obliged to put offers forward, however they will have been able to negotiate ‘best terms’ offers with the prospective tenants based on your wishes, before approaching you. This should save a lot of time for you and the tenant, and allows us to act more efficiently as your agent.
See more in our series of Blogs on What your agent does for you
In this section we look at the role the tenancy agreement plays in ensuring a successful tenancy. A good agent will ensure that the agreement is fair, current, and written in clear language, to ensure that both parties are fully … Continue reading →
In our previous posts we looked at marketing and finding a suitable tenant We are now going to look into the next step, which is to obtain the references. At this stage we will have already met the tenant and … Continue reading →
In the second of our series looking at the role of the Letting Agent we focus on actually finding the right tenant for you as landlord. Finding a tenant This includes the agent ‘qualifying’ each tenant before they see the … Continue reading →
We like to blog in series – giving our clients information in bite sized pieces that they can easily digest. In our latest planned group of blogs we are going to look at the role that the agent plays in … Continue reading →
This is the month where men can legitimately grow a mustache and feel good about raising awareness of Prostate and Testicular Cancer and funds for research. Riley Marshall’s (male) staff are having a go at a Mo and as a little light relief we will chart their progress here in our rogues gallery. Here is the batch of ‘Before’ pictures – taken last week, this weeks photos will soon follow…
Let’s see if you can get as good as this one below by the end of the month fellas!