If your house is sitting lonely and unloved on the market, it is probably due to two main reasons - the rent and/or the condition.
A property has zero intrinsic value: it is only worth (in sales and in rentals) what someone is willing to pay. So in most cases if there is no interest then the rent is too high and it needs to be lowered.
Of course this is easy to say and harder to stomach. It is particularly painful when the rent is near the mortgage repayment level and you risk having to top it up each month. However the harsh reality is that some income is better than none - it is better to lower the rent, accept a 6 or 12 month tenancy and pay 5% of the mortgage rather than 100%.
The condition of the property is paramount. Tenants have high expectations. They want bright, light, clean and modern and that is why Decorum Interiors, our furnishing business, exists. They will pay for the best properties and they walk away from tired homes. The worst properties let the slowest.
You need to be realistic about the condition of your property. Often landlords are too close to the issue and in mild denial about their property - they like the property so they feel that tenants must like it too.
However you are not the tenant. You are not the target market. If properties are struggling, at Finders Keepers we sort them out. That is our job. This can be minor (mowing the lawn, replacing lino in a bathroom) or it can be substantial (a basement which needs damproofing).
Two other factors may be at work: your soft criteria and the hard criteria.
· The soft criteria are your preferences for furnished or not, pets, children, etc. We have dealt with landlords who refuse to unfurnish their family house even though 10 out of 10 applicants need unfurnished. The stricter you are on "no pets, no children" the fewer applicants can be matched to your home.
· The 'hard criteria' are issue such as parking and availability dates. If the property is only available for 6 months, that makes it harder to let. No parking makes it even harder.
If you would like to learn more about how to get the best rent for your property, or how to speed up the process, feel free to call us on: 01235 535454 or email us at: email@example.com