A rental property is a great way to make a steady income, particularly in sought after areas of London. However, in order to keep on making a profit from your investment, you need to make sure that you have suitable, reliable tenants occupying the property.
Approximately one third of the population are renters and, contrary to popular belief, they aren’t simply students and young people. In fact, there are as many people between the ages of 30-65 renting as there are under 30. This means there is a huge pool of people looking to rent a property, and you need to take steps to make sure you are attracting the right ones to occupy your property. Here are some of our tips for finding suitable tenants to occupy your investment.
- Take advantage of every possible channel. There are many ways to find tenants, including the use of social media, lettings agents, websites, and much more. Our skilled team will make use of a wide range of channels to optimise the chances of successfully finding tenants.
- Know your policies. Your ultimate goal should be to find quality renters who will keep the property in good condition and keep up with payments. Start by becoming educated on the rights both landlords and renters have. You can then set down a list of required criteria for your applicants, considering factors such as proof of income, credit score and rental history.
- Know your target audience. To attract the right tenant for your property, you need to assess the local amenities. Is your property close to a mall, school, or business park? Students will want a place that is close to their place of education whereas families may want to be situated near schools. Take these into consideration and include them in your advertisement.
We specialise in lettings, property management and block management in Bromley and the rest of London, and can help you find the highest calibre tenants for your property. For over a decade we have been situated at the forefront of London’s property market and our level of knowledge and experienced is unmatched. For full and comprehensive block management and help with marketing your property, get in touch.