Identify your tenant profile
Ideally, by the time you come to marketing your property you should already have identified your ideal tenants
When it comes to traditional long-term letting, the first step is to identify your target market.
Ideally, by the time you come to marketing your property you should already have identified your ideal tenants.
For example, you may have chosen to invest in a buy to let in a university town with a view to renting to students.
But you may be an accidental landlord, who has perhaps inherited a property which you are now looking to let out. If you’re not yet sure who is likely to be interested in your property, the first thing you need to do is identify who your ‘ideal renter’ would be.
This will help you to understand their needs so that you can tailor your marketing effectively.
Let’s say your rental property is a three-bedroom semi-detached house in a quiet neighbourhood near schools and parks – in this scenario it would make sense to focus on targeting families.
But if you own a studio flat in a city centre, your target tenant is more likely to be a single professional or a young couple. Once you understand who is most likely to be interested in your property, you can start to build up a clearer picture of how to present your property to appeal to their needs and where to advertise your property, depending on which websites and social networks they are likely to use.
One of the most important considerations for tenants will be rent affordability. Look at the rent of similar properties in the area to make sure that you remain competitive to your target tenant.
