Advice You Should Be Giving Your Letting Agency Clients
When you are a letting agent, you need to make sure that you are giving your landlords and your tenants the right advice. If a property is not as it should be then the landlord is not going to get a good price for it. Of course, depending on where you are located, you might find that properties go quite quickly but this doesn’t mean that the property is making as much money as it should be.
To help you with this, we have put together some of our best advice that you can give to your letting agency clients whether they are landlords or tenants looking for a property. Keep reading to hear what made our list.
Make More Space
These days, properties that have more space are worth much more. This is why you need to make sure that your landlords are making the most of the space that they have. A property doesn’t always need to have a lot of furniture in it to make it look good, sometimes less is more. Try to talk to your landlord clients about how they can make more space. Perhaps they can put some items in storage, this typically works because they don’t have to get rid of them entirely.
While making more space is the problem that the landlord needs to face, you can also advise your tenants to make more space for themselves. This can be done by encouraging them to put some of their items in storage before they move in. This works well if they cannot afford a large property and they have more things than they can bring. Safestore has a great resource on moving house and putting items in storage. Make sure to encourage your tenants to consider this when moving in.
Don’t Ask For Too Much
One of the biggest mistakes that a landlord can make is asking for too much rent. Unless there is a massive shortage of properties in an area, they might not be able to get a tenant to stick around for long enough to make it worthwhile. Make sure that your landlord clients know about the cost of properties in the local area and that they are offering a fair price. If you think that they are asking for too much and it is causing problems then speak up and it should help them out.
Our final piece of advice that you should be giving your landlord clients is to follow the regulations. It is important that they are not breaking any laws when it comes to renting out a property or this could also backfire on you. Make sure that they have the appropriate PAT testing and fire safety in the property. For your tenants, make sure that they are checking for these things and updating you if they are missing from the property. This should help you to ensure everyone is following regulations.
If you are an estate agent who has some clients who need advice then make sure to consider everything that we have discussed in this article. Think about how you can help your tenants on moving day by encouraging them to put some of their items in storage to make some more space. You should also ensure that your landlords are not charging too much as this could cost them more money in the long-run. Follow our advice and you should have some happy clients in the future.