How to maximise your property rental
- 12th November 2008
- Landlord Property News
With media reports of falling rents, LONDON'S LETTING AGENT advises landlords how to maximise rental income.
According to the Royal Institution of Chartered Surveyors, rents fell for the first time in five years between July and October as more home-movers switched from selling to renting their homes.
A recent survey by RICs reported that 12 per cent more lettings agents said that rents had fallen rather than risen between August and October. Just three months earlier a third more agents reported that rents were rising.
Stephen Ludlow, Director of ludlowthompson comments: 'Landlords will no doubt worry reading about falling rents. It's even more important now to choose a letting agent that has the ability to get the best out of the current market conditions. It should be remembered that would be sellers renting their property also need to rent so demand also increases to match supply which evens things out at some level.'
How ludlowthompson maximise rental for their landlords -
Ever advancing technology has dramatically changed the way people look for property, so it's important that whomever you choose to let with is up to speed. Such letting agents recognise that we are more on the move today, using our mobiles and PDAs, accessing the internet 24/7 for information whenever we want it, wherever we are. Poeple want to view after work and have limited spare time to find a place to live so they need information delivered to their finger tips.
But not all estate agents are able to keep pace with the latest IT; the estate agency market is quite fragmented in its offering. For instance, some estate agents - such as ludlowthompson - started offering email property alerts four years ago and others have yet to catch up. It's no longer enough to have a nice looking website. People want interactivity akin to the best of online banking and 'matching' facilities offered by the likes of Ebay and Amazon. The main advantages to you, the seller, of using an estate agent with sophisticated IT are:
1. The scale of enquiries the internet can achieve - more enquiries = better offers.
2. Reduced viewings from disinterested tenants - anyone visiting your property will be seriously interested because they have already seen in-depth information.
3 Your property being where most tenants will look - a website that's easy to use and ranks high on search engines and property portals will attract more people. If you put your property on an old website that's slow with poor photos it won't be so visible.
Such estate agents can offer you both one-to-one and online account services; the best of both worlds. So if you don't have time to catch up with your estate agent during the day you can log on to their website whenever it suits you to check out progress on your sale and access documentation.
ludlowthompson offers the following internet property marketing for landlords -
~ Internet service via mobile phones - ludlow.mobi
~ RSS feeds (Really Simple Syndication) - see below *definition
~ Full description room by room with floor plan and printable details in PDF format
360 degrees virtual photo tours
~ Online journey planners to check out your particular routes e.g. to work or school
~ Interactive Property Updates by email and text alerts with 'email a friend' + 'Call Me'
~ Interactive ZoomMap plotting nearest amenities in relation to your property e.g.
- Supermarkets, convenience stores, bars, restaurants, cinemas, public parks, gyms.
- All nearest public transport types (tube, DLR, train, tram, bus stops & river taxis).
- Integrated London Journey Planner from TFL to plot and time routes.
- Schools in the area (public and private) including results and performance tables
- High resolution Satellite and Aerial Photography
- Council tax rates
- Mortgage repayment calculator
* Definition: RSS (Really Simple Syndication) is a web feed which sends frequently updated content of choice to a computer via the Internet. In respect of property, buyers can keep up to date with what's new 'for sale' on the market. An increasing number of people prefer to use the RSS method instead of clogging up their email inbox with updates and newsletters.
It's now even more important to choose a letting agent which has the ability get the best out of the current market.
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