A guide to a successful let: Miranda Coaley #SpencersAgents

At Spencers we believe in transparency; giving honest & helpful advice.   Are you a landlord struggling to let your property out or just not achieving the rental return you should be?  With the UK rental market soaring, and a massive 35% of the UK renting, your property should be letting quickly & with a good yield.  

Since early 2012 the average rental price has risen by 2.3%. If you aren’t seeing a better return then you have to ask why. Despite the high demand, the amount of rental stock on the market has risen on average by 10% since 2008.   As a landlord you need to be competitive and to make sure your property sticks out from the others, this will enable you to have fewer void periods & a better, more consistent income. 

With this competitive market, tenants are able to be fussier and spending a little money will help in the future. A new modern kitchen and stylish bathroom are what tenants look for the most; they will potentially pay more & stay longer for these benefits.  Also, think about your target market for who you want to capture, if you are looking for young professionals then keep the design modern & neutral.  Make sure that your property is presented to look its best that it can be, you can easily dress the bedrooms with fresh linen and the bathrooms with folded towels; you want the viewer to imagine they are living at the property. Finally, this goes without saying, but make sure your property is clean & tidy; on the whole the tenant will keep the property how they found it.