For a Buy-To-Let property to be as profitable as possible, it’s crucial to find quality tenants quickly. The most sought-after tenants are those who pay their rent on time, keep the property in good condition, and don’t cause any problems. Over the last few years, more and more people in the UK have been renting homes rather than buying them. We’re also staying in rented homes for much longer without moving. To attract the right tenants it is important to present the property well and have it marketed in the right places looking at its best. If you obviously care about your property, your tenant is more likely to care for it as well.
Identify your target tenant
Ideally, you will have purchased your buy-to-let property with a specific tenant in mind – for example, families, young professionals, or students. But this won’t always be the case, as you may be renting out a property that you originally bought for yourself, or inherited. The main deciding factor that tenants are looking for in their rental property is a ‘good’ location.
If you’re not sure who your target tenant is, look at:
Location – Is your property in a safe and secure neighbourhood? Is your property within a good school’s catchment area? Does it have good transport links? Would it suit commuters? Is there a good proximity to local nightlife or shops?
Nearby rental properties – If you search on a property website for your area, who do you think those landlords are targeting?
Quality – Do you think your property offers a similar standard as other properties available, or is it superior in some way?
Know what your target tenant is looking for
Think about which features of your property make it suitable for the audience you’ve identified.
Examples of points to consider:
• Does it have a perfect garden for families?
• Does it offer parking?
• Is there access to a gym in the building?
• Is it suitable for pets?
• Does it have an en suite bathroom?
• Is it offered furnished or unfurnished?
These are all examples of features you’ll want to draw attention to in your property listing.
Take great photos
Well-shot photos can make your listing stand out and help your new tenants to picture themselves living there.
Lighting – Natural is best, so shoot on a bright day, if possible, with the curtains and blinds open.
Angles – Shoot towards a corner, rather than head-on to a wall, to give a better impression of the size of the space. Staging – Photos of clean and well organised properties are more appealing than cluttered and untidy ones. Consider finishing touches such as flowers or a fruit bowl.
Details – If you have unique features, such as luxury white goods, make sure your photos draw attention to them Variety – Include a good range of photos, including different angles of the same room if there’s an opportunity to show different features.
Describe your property clearly
You can either write the descriptive text yourself or review text written by your agent. Either way, make sure that it mentions everything you think will attract the tenants you want.
• Focus on the biggest and best feature first, e.g. ‘spacious family home’ or ‘luxurious city apartment’
• List other features of the property
• Give reasons why it’s suitable for a particular type of tenant
• Include positives about the neighbourhood
• Use relevant descriptors, such as ‘quiet’ or ‘modern’, rather than general ones, such as ‘exciting’ or ‘fantastic’
Remember the things that aren’t shown in your photos, such as a security system, off-street parking, or close proximity to local amenities. It might help you to imagine what you would point out to people if they were viewing your property in person. You’ll also want to be clear about your pet policy and smoking policy.
Ask your agent for advice
Your letting agent can check that you’ve included all of the essential information and add anything you’ve missed. They’ll also confirm that you’re meeting all of your obligations in line with the Consumer Protection from Unfair Trading Regulations (2008).