When was the last time you checked whether you were charging the correct level of rent? You would expect your agent to advise you on changing market conditions, especially when paying for a fully managed service and you wouldn’t be wrong in assuming this. Unfortunately, this isn’t always the case, with many agents out there choosing a quiet life, working on volume turnover rather than getting their clients the best return on their investment.
It is also important as a landlord to regularly visit your property, or at least enquire about the condition and ask to see a few photographs. When the rent is being paid and the empty periods are short, many landlords won’t think to challenge the agents. However, by making small changes and ensuring the property is presented to the best standard you could increase your rent level significantly. It’s not always a big investment and often by investing a small amount of time and money into your property you will see big rewards.
To be completely honest, we see far too many average or below average properties advertised online daily. It’s astounding to see the poor levels of presentation, photo quality and I have even seen a property listed on Rightmove with upside down images – I kid you not!
Landlords, in short, to maximise the return on your investment you should ensure you regularly check the presentation of your property and keep a close eye on the way it is being portrayed when listed online. By making frequent, little changes it will save you a big surprise, and perhaps more importantly a big bill at the end!
Here at Sanderson Weatherall we have worked with a large number of landlords over the years to ensure their properties are maintained to the best possible level. We have also been heavily involved in several projects to update and refurb properties and have seen a significant upturn in those rents.
To see how you could improve the yield on your rental properties why not contact us or pop in to our Central Square office for a coffee and chat.
