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How to Win at Playing Finders Keepers When It Comes to Great Tenants

How to Win at Playing Finders Keepers When It Comes to Great Tenants

How to Win at Playing
Finders Keepers When It Comes to Great Tenants

In this three-minute read, we look at how landlords in Kent
can find and keep terrific tenants.

‘Finders keepers, losers weepers.’ It’s a timeless rhyme
used every day in school playgrounds in Kent and all over the UK.

It often applies to someone finding something that’s unowned
or abandoned. But it also resonates with local landlords when it comes to having
the second most important piece of the rental puzzle – great tenants.

Finding these excellent tenants is one thing. Keeping
them is another. And some landlords lose these precious people because of
basic, unnecessary errors. It’s enough to make a good landlord weep.

But put the tissues away because here are seven ways you can
win at Rental Finders Keepers.

1) Use
a good letting agent
. Earlier in
this article, we mentioned that tenants were the second most crucial piece of
completing a rental puzzle. The first? Well, in our opinion, it’s an excellent
letting agent. That’s not because we are one, by the way. It’s because, over
the years, we’ve seen countless landlords go down the DIY route to managing
their properties and getting themselves in a stressful and expensive muddle.
Look for agents with experience, testimonials, industry qualifications, and a
clear plan on how they’ll market, manage, and maintain your tenancies.

2) Know
your target tenants.
An experienced letting agent will be able to advise
you on who your property will most appeal to. Is it a growing family, young
professionals, or a retired couple? Knowing this will help with the next
ultra-important step.

3) Marketing
. Perhaps the biggest
error DIY landlords make is not taking the marketing of the property seriously
enough. You are ‘selling’ an expensive product after all. This is why
photography, property descriptions, and online advertising should be handled by
professionals who do it day in, day out. The better your property’s marketing,
the better calibre of tenants it will attract – giving you more choice when it
comes to the next step.

4) Setting
the rent
. By knowing your target
tenant, marketing correctly, and listening to expert advice, you’ll be able to
set your rent at the right amount. A correctly priced rental (not too cheap or
expensive) will attract more interest and ultimately, more offers from quality tenants.

5) Be
prepared for questions.
Good tenants tend not to just turn up at a property
and say: ‘It’s great, where do I sign?’. It’s a big decision for them, and
they’ll have questions such as ‘What council tax band is the home in?’, ‘What
are the parking arrangements?’, ‘Are utilities included in the monthly rent?’.
Remember, when it comes to the best tenants, this is a two-way selection
process as they are savvy enough to research the rental market, so you’ll also
need to make a good impression on them.

6) Check
them out.
A tenant worth having will have no issue going through a
referencing process. Here’s another area where a good letting agency reduces
your risk of problems further down the line. Please don’t be shy about asking
your letting agent for proof of the referencing process they’ve carried out,
which should involve financial, employment, and past landlord checks. Skip this
part at your peril.

Keeping them. So, once you’ve found a
great tenant, how do you go about keeping them? Well, this is an entire article
in itself, but it would be along these lines: Be a good landlord by maintaining
the property properly, dealing with issues quickly, charging rent fairly, and
acting professionally.

At CWB Property, our job is to help landlords find and keep great
tenants. To ask us anything about the Kent rental market, contact
us today.