What to do if my property isn’t getting interest
We often have lofty ideas for our properties when they are on for let and while this is not such a bad thing, these ideas might not pan out as we planned. It may be that you are not getting interest from the ‘right Tenant’ or it could be that there is limited interest overall. If this is the case we have some answers….
· List on the right platforms - not listing on the right platforms feels like going to shop for shoes in a store that exclusively sells clothes. You won’t receive any interest if no one can find your property. Make sure that your property is listed online – whether that’s on portals such as Rightmove, the estate agent’s website, or social media sites.
· Change your marketing strategy - if your property isn’t generating interest then your agent could be marketing it incorrectly. While traditional marketing is great, sometimes you have to look outside the box for some creative ideas for certain properties. Video tours, 3D rendering, great descriptions and more can help to attract interest from the right people.
· Change your photos - people are often moved to act by what they see. It isn't rocket science, sometimes you are swayed to go for the better-looking option and this is purely psychological. Imagine walking into a dessert shop to buy a specific cake but you had no design in mind; the most appealing design is probably what you will be leaving the store with. Your property is the cake and if you are not generating interest, it might be because your pictures aren’t showing it in the best light. Engage the services of a professional and watch interest soar.
· The property condition – if you are getting viewings but not receiving applications the reason is likely to be the property. It is always important to make sure that your property is clean and tidy and generally well presented. Use a professional cleaning company to clean the property and floorcoverings and ensure that maintenance items are addressed before viewings are conducted.
· You have a lackadaisical agent - no one would show interest in your property if your agent isn’t putting the work in. Before picking an agent, you want to be sure that the individual and the agency have a proven track record of success. Do periodic checks, you can ask a friend to pretend to be an interested Tenant so you can properly evaluate how your agent treats practical situations. If you are not satisfied, chances are that many others won’t be either!
· The market – there are always changes that affect the market. This could be an increase in property supply, Tenant demand, performance of a subsector or legal requirements. A great letting agent will be monitoring the market conditions to provide you with the best advise for you and your property, before and during marketing. Speak to your letting agent to find out about what is happening within the market and how to maximise interest in your property.
Speak to Mundys Lettings to find out more about how we can maximise the interest generated in your rental property on 01522 556099.