How to show a property in 5 simple steps

show a property One question a letting agent or landlord may ask themselves is how to show property successfully. In an ideal world, the letting agent would simply open the door to a rental property and the features of the property would speak for themselves, thus leading to a successful letting.

However in reality, the letting market is flooded with properties, all with perceived positives and negatives. In short, the letting agent must put the ground work in to set the property on view apart from the competition!

I have listed below five key rules on how to show a property. These will ensure the tenant gets the best impression of the property, and also of the professional service the letting agent provides. Please read the rules below and put them into practice because as the great Roy Keane says, “fail to prepare, prepare to fail.”

1. Be punctual for the viewing – arrive early!

When you are showing your rental property it is important that you arrive early for the viewing to make sure the place is presentable and to allow you to find your bearings in the property. There is nothing worse than arriving at the same time as the prospective tenant or worse, arriving late for an appointment.

If you are conducting viewings in the colder months, try to arrive a little early to put the heating and lights on so they are coming into a cosy well-lit property. Meet and greet your prospective tenants in a calm friendly manner, as this will put the tenants at ease when viewing. You may be under pressure for time, but remain calm! Remember first impressions last!

2. Clean and tidy property is essential!

Make sure the property is clean and tidy as first impressions of the property will most likely sway your tenant’s decision. Your prospective tenant must be able to visualise living in the property and with clutter lying around, it won’t feel like a blank canvas for the tenant to make their mark.

A good cleaning company can provide a deep clean of the property which is something your tenants will expect before moving in so get this sorted before you conduct your viewings to maximise the letting potential.

how to show a property

3. Know your property inside out!

It is so important to know the property inside out. Would you buy a car off a garage if the salesperson couldn’t tell you what size engine the car had, or what fuel it uses? All too often agents don’t familiarise themselves with the property leading to poor communication of the features and benefits.

Your tenants will have lots of different questions and if you are well prepared, you will be able to answer them there and then. This could be the difference between the tenant renting your property or the next one on their list.

Some questions tenants will ask:

  •  Is the cooker electric or gas operated?
  • What type of TV connection is available and can I bring my own satellite dish?
  • How much is the average electricity and gas bill?
  • What is the energy rating for the property?
  • How much for water charges, waste collection and council taxes?
  • Is the shower an electric shower and what is the pressure like?

4. Know the area  – local amenities

Some letting agents or landlords may not live in the locality or be too familiar with the local area. It is good practice to familiarise yourself with the local amenities including local schools, shops, sports and social clubs, transport routes or motorways etc.

Depending on the age group of the tenants, you can tailor your pitch to the relevant resources they may be interested in, e.g. information relevant to families would be schools and local clubs.

5. Have important documents at hand

Make sure you have all the relevant documents at hand for your prospective tenants to read or take away with them. This will speed up the decision of the potential applicant and prompt the tenant to accept your property as their new home.

Relevant Documents

  • Deposit receipt book
  • Application form
  • Copy of house rules (If the property is in an apartment complex)
  • Terms of rental and additional charges
  • Copy of Inventory

This blog is from my experience within the letting industry of how to show a property, from conducting thousands of showings. I hope you find it useful. This is the best way, in my opinion, of how to show a property. Please let me know if it makes your life easier!

 

<a href=”http://www.blogpingsite.com/”>BlogPingSite</a>

How to let a property in the summer

The summer season can be a frustrating time for letting agents, as they have a number of prime location properties that become available at the same time.

How to let a property in the summer

So what’s the problem?

In most cases, there are also a number of other prime location properties that come on the market with other agencies and landlords. As students finish up renting for the end of the academic year, their rental properties will normally come back on the rental market. With the exodus of students, the market sees a huge jump in the number of available units.

How to let a property in the summer

Having a property vacant for as little as 1 week will see a reduction of 2% in annual rent, bring that vacant period forward to a month and you are looking at a reduction in rent of 8%. One of a properties USPs is the rental amount and if you market the property at the rental value today and not at its peak you should see the property being let within a lot quicker time period. Another post of interest may be How to market a rental property.

Look at the numbers

Example1. Rent of €1000 per month. Vacant for 6 weeks

= loss of rent of €1385.

12 month lease =€12,000-€1,385 =€10,615

Example 2. Rent of €950 per month. Vacant for 1 week

= loss of rent at €220

12 month lease = Annual Rent €11,400 – €220= €11,180

Results

Renting for a reduced rent equals a saving of €565

Analysis

Reducing the rent by 5% of the peak renting value actually works out at increasing the landlords annual yield by 5% compared to having a void period of 6 weeks. In my opinion, this is how to let a property in the summer.

The main point here is that if you analyse the figures and discuss it, the landlord should not let the concern of a lower rent today impact the result of a higher annual rental yield. 

Going forward

You can try to let the property for a lease term which brings in the property for renewal in August & September in order to increase the yield for your landlord.

By Andreas Riha

Rental marketing video

Following on from our previous video blog on creating your Letting Agency Video Channel, here we can see how to publish a property marketing video on your YouTube station. (by Rentviewsoftware)

Process for editing your rental marketing video

Here is 5 steps in uploading your rental marketing video to YouTube. You will need to create an account as outlined in the above link.

Step 1. Upload the video from your computer or device. If you are using a smart phone or tablet you can easily upload the video by just clicking the upload facility.

Step 2. Start to place SEO information relating to your rental marketing video. It is important to use keywords which you hope to rank with in the Title, Description and tags. For example if your property is located on Manchester Ave you may want the title as “Manchester Ave Apartment to rent” this should also appear in the description.

Step 2a. Include the text to appear in your Facebook or Twitter Feed if you have social media connected with your channel.

Step 3. Advanced settings, will allow you enter details such as location and options to include recording date etc.

Step 4. Once you have everything completed press save and now you edit some of the rental makreting video to include on screen texts and links etc.

Step 5. Promote your rental marketing video in order for you to generate traffic and views. The obvious places of promotion are all your social media channels but also on the description of your rental property.

Rental marketing video

Why agencies use rental marketing video

The strategy of using a rental marketing video by letting agents to attract tenants allows them to qualify the tenants to the highest level possible. By offering a rental marketing video any potential tenant viewing your property knows that location, price, layout & interior match their expectations.

By using rental marketing videos you are offering more in your marketing services to landlords. With increased competition within the lettings industry having more USP’s will certainly help you attract more listings.

Read more on Strategy in marketing a rental property – which discusses letting agents’ different marketing strategies.

by Andreas Riha

How to advertise property for rent

advertise-property-for-rent

Image credit ThisparticularGreg

How to advertise property for rent

An interesting and effective advertisement will have two components – pictures and a description.

1. Advertise property for rent using images

As the old saying goes, a picture is worth a thousand words, so you better make sure those pictures are up to Shakespeare and Tolkien standards! Obviously, there should be at least one picture of each room, and these pictures should be of a good size and quality. We recommend taking more than one photo of each room to capture the necessary detail, but be sure there’s no clutter and everything is clean before you start. This is especially true for kitchens and bathrooms as these rooms can be deal makers or breakers. Let your creative side shine and experiment with lighting and angles to show the rooms at their best. Photograph the exterior too, preferably on a clear day when the light hits it best. If you really want to impress, make a video too. A simple virtual tour of the property using a digital camera or even a phone brings the property to life. See Why Use YouTube for marketing

advertise-property-for-rent

Image credit Andrew Mason

2. Advertise property for rent using good property description

Keep the description short but detailed and without deceptive language. Most people are quite savvy these days and will see through descriptions like ‘cosy kitchen’ and find the real meaning of small, possibly cramped. Just be realistic. Follow the rules of correct grammar and spelling when advertising a property to rent. Don’t forget to proofread the description before you post it! As for what to include in the description, imagine you’re writing it for a first-time renter who doesn’t know what to expect and is unfamiliar with the area the property is in. Place the most attractive points at the beginning and end, as most people read these but scan the middle. Include the following information:

 

  • Location
  • Rent
  • Lease length
  • How many rooms/bathrooms and their approximate size
  • Furnished/Unfurnished
  • Appliances e.g. washer/dryer
  • Storage
  • Internet
  • Security measures
  • Policy on children, pets and rent allowance
  • Proximity to amenities
  • Special features
  • Letting agent contact information

Combining photographs with a detailed description will ensure your advert is both eye-catching and effective when you advertise property to rent.

By Andreas Riha

Property Viewing – Top 3 Tips

Property Viewing

In social interactions, whether it is a job interview or just meeting new people, we have a desire to give a good first impression. The reasons for this are many, but quite often lead to engaging in some sort of impression management to influence perceptions. The same can be applied to running a successful property viewing. Influencing a situation (in this case, the appearance/functioning of the property) in the right way can be enough to ensure a deal and a new tenant. Follow these guidelines and that important good first impression will be made at your property viewing!

property-showing

Image Credit – Nosha

#1 Get the basics right

Fixing and cleaning: the bread and butter of managing the property. Property agents can be a good source of information on problems. Are there any major structural issues? Broken roof slates, draughts from windows and doors? Get them fixed, as not only will they improve the appearance of the property, they could also help with the heating bills. Are all fixtures, fittings and appliances in good condition? This means no leaking taps, showers, no burnt-out light bulbs, fully functioning smoke alarm, strong locks and security measures etc. If the walls are looking a bit dull, re-paint them to make them look new.

#2 Cleaning the property

Next, clean the property inside and out. It may seem obvious, but the emphasis here is on thoroughness. Set aside enough time to do a proper job. A couple of hours running around with a vacuum-cleaner and some bathroom sprays are not enough. Take each room in turn and dust, vacuum, sweep and spray everything. Carpets should be washed, as should windows to prevent/remove mould. All appliances need to be cleaned and be free from unpleasant odours. If the property has a garden; cut the grass, de-weed it and plant some low maintenance flowers if possible. A small bit of detail can turn a property into a home!

property-viewing-clean

Image Credit Maartin Takens

#3 Take It to the Next Level

Set the right tone for the showing. Remove all clutter. The lived-in look may emphasise the homely aspect of a property, but it is not appropriate for a showing. For a longer and more relaxed showing have some lit, scented candles or incense in a couple of rooms. Not only will this help everyone involved relax, but it can remove any last minute or unexpected odours. A little soft music can also play with perceptions, but keep it appropriate. Finally, ensure there’s enough lighting. Even if the showing is during the day, increase the lighting levels.

by 

Andreas Riha