How to market a property to let
Posted on 7th March 2022
We're going to break down what it means to put a property on the market, some of the advantages of doing this and then follow up with some tips on marketing your property for rent.
What does it mean when you put a property on the market?
Simply that someone is letting their home or commercial building for another person (usually an estate agent) to manage; they are effectively renting out their own space.
The tenant is not responsible for this process as it is not their property.
The tenant, or tenants, are the people that are living or using the space and are paying the landlord for this.
The first step is to find an estate agent that you trust and is knowledgeable in the market you're trying to rent your property in. The next step is for the estate agent to come round and value your home - this will give them a good idea as to what they can achieve on the rental market.
Once they have a price, they will then put your property on the market and start to advertise it. They will take pictures of your home and create a floorplan with measurements of each room, create a listing and put it online.
They will also market it in other ways, such as through print media or to specific people who are looking for a property like yours.
It's important to remember that the estate agent is working for you and they should be doing all of this to get you the best deal possible - so make sure you ask them any questions along the way!
When someone is interested in your property, the estate agent will take them through it and do all of the necessary background checks. If you're happy with the tenant and they're happy with the property, then you can go ahead and sign a contract - congratulations, your property is now let, providing all the other steps are completed also!
Some advantages of putting a property to let:
The first advantage is that you can command your price. If you don't like the offers that are coming in, then negotiate with them until they meet your requirements.
Secondly, you have more control over who rents your property. You can stipulate what you're looking for in a tenant and carry out reference checks before they move in.
Lastly, you get to choose who your estate agent is. This gives you a lot of trust that they will be looking out for your best interests and not just their own commission.
Tips on marketing your property for rent:
- Have good quality pictures taken of the exterior and interior of your home.
- Make sure the listing is very detailed and appealing to prospective tenants.
- Put your property on as many online platforms as possible, including the big ones like Rightmove. Every property we put on the market we use Rightmove and on the market.
- Put a To Let sign up outside the property to advertise that you are looking for new tenants.
- Host an open day where people can come and have a look round – this is a great way to get potential tenants interested.
Whatever your goals, make sure that you communicate them clearly to your estate agent and they will help you achieve them. Thanks for reading!
If you would like any more information or advice, please contact us on 0116 3409989 or email@example.com
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