Why hasn't your property let yet?
If you have one or two properties that are staying on the market for longer than usual, Seekers can help you get the ball rolling with our landlord property services in Newcastle.
Our dedicated team of property experts can help you get the rent you’re looking for, and advise you on everything from budget preparation and payment invoices, to property inspections and contract management.
What are the reasons that properties stay on the market?
There are many reasons why your property may still be on the market. Some of the most common reasons are:
1. You've priced the property too high
Now more than ever, tenants are looking for properties that meet their standards and align with their budget. Newcastle is a bustling city filled with students seeking student accommodation, and are therefore looking to get the biggest bang for their buck. Students will want a property that is secure, furnished and affordable. We have a dedicated blog that answers the question: What Do Students Want From Their Rented Property?
At Seekers, our team of experienced experts can support you in pricing your property correctly. We’ll start by conducting a property valuation to determine how much your property is worth. We will then be able to give you an up-to-date figure which will help you identify your rental yield. We have over two decades of experience in the property sector, so you can rest assured that you’re in good hands.
2. The condition of your property isn't up to scratch
Tenant expectations are increasing, so having a rental property that is basic and in need of repair will risk void periods. We highly recommend refurbishing your property to make it more appealing and up to date. As a landlord, you also have health and safety responsibilities that need to be met, which will be assessed during the regular property inspections carried out by our team.
As part of our landlord property services in Newcastle , our dedicated property inspectors will conduct thorough inspections to ensure your property is legally compliant. These inspections will include gas checks, fire detection checks, risk assessments and electrical checks.
We also offer refurbishment services, where we’ll help you manage your renovation projects from instruction through to completion.
3. Inadequate marketing
If you’re a first-time landlord, it can be hard to know where to start when it comes to marketing your property. Part of a successful letting is ensuring that you have promoted the property as well as you can to maximise the amount of potential tenants enquiring. For top tips on marketing your property, take a look at our How Do You Market Your Student Properties blog.
At Seekers, we also offer a Tenant Find service, which will match you with the right tenant for your property, taking some of the stress out of sourcing them yourself.
What can I do to get my property let?
1. Get a property inspection
The most important starting point is making sure that the condition of your property is to the highest possible standard. Ask our lettings team for detailed feedback on the condition of your property and what prospective tenants have noted during viewings.
We strongly advise having a property inspection with Seekers so that the necessary repairs can be identified and carried out. Think about your bathroom and kitchen - when were they installed? We’ll help you pinpoint the amenities and/or rooms that need a refresh.
2. Scope out the competition
Take a look at the properties we have available, the condition they are in, and the advertised price range to get an idea of the competition and realistic rental prices.
3. Know your responsibilities as a landlord
As a landlord, it is a legal obligation to make sure that your property meets regulations and is free of health hazards. We have outlined all the responsibilities you should be aware of in our Landlord’s Health and Safety Responsibilities guide.
4. Undergo a property renovation
Once you know what rooms or amenities need an update, you can begin the process of renovating your property. Make sure your property is free of damp and mould, refresh the interior of property with your tenants in mind, and have your tools, supplies and contractors ready to hit the ground running. If you don’t know where to start, we have put together a comprehensive Landlord’s Guide to Renovate Your Property to help.
How can Seekers help with getting your property let?
We offer a range of landlord property services in Newcastle, including a valuation of your property, advice on how to increase the value of your property with our in-house refurbishment service, and our growing sales team who can provide a free sales valuation if you choose to sell.
To get started, get in touch with our team of friendly property experts.
