Tuesday, September 24, 2013

Who is your market audience?

When considering renting out your property it is all too easy to forget the most obvious factor which will determine the whole process to follow; who is going to be living in my property?
This consideration brings to light two key factors. What market are you aiming for, and how can you best adapt and promote your property to appeal to that market?

At Scott-Bates and Coles we like to simplify things for landlords as much as we can. We therefore offer straight forward and cost effective ideas on how best to prepare your home to appeal to the most tenants, at the optimum rental price. We do this by asking three key questions;

Is the property versatile and ‘neutral? Your property needs to be able to adapt to whatever style your potential tenant may have. You need to cater for all, from the ‘beige people’ to the ‘bright pink people’. So get out the magnolia paint and make your home a clean and fresh canvas for the taste and style of whoever is to live there. We also need to make sure that rooms appear ‘versatile’, i.e. a downstairs study could be an additional bedroom. In this case, a de-clutter will most property be required!

The aim is to show off the space and possibilities that the room can offer.
Is it safe? The most important question of all.
How does your property rate against the competition? This will affect your rental price and timescales of being able to let your property.

With a little work, and very few pennies it is possible to increase not only the rental price but ‘lettability’ of your property.

If you need any advice, please email us!