Learn how to work out ROI on property with simple steps, real examples, and expert tips to analyse property deals correctly.
Read More
The UK property rental market is overflowing with demand. If you are planning to enter the business, now could be an excellent time for you.
Table of Contents
ToggleThough there are countless potential tenants out there, it is important to know how to manage inquiries effectively. A wrong approach or an issue with the property can cost you a good quality deal.
Here are some of the most common things that you have to avoid:
Many renters are willing to pay more as long as they see the value that they will get for it. However, you are far from closing a deal if the price does not align with the product.
Make sure to do your research – check prevailing rental rates in the area, especially properties that are comparable to yours in terms of size, facilities, and condition. You can also view the rental pricing index that is published regularly by the UK Office For National Statistics.
Who would want to live in a dirty, broken-down place? Before entertaining any inquiries, you first have to make your property presentable.
Do an overall maintenance check and address all issues. Fix the plumbing. Repaint the walls. Remove all cobwebs, molds, and rust.
Unpleasant odors are also a big turn-off. Consider setting up a scented diffuser before accommodating a house tour.
A property that is functional, safe, and clean is the minimum that any renter can expect. However, even if you can meet these basic requirements, you may still fall short of impressing potential renters if the place is outdated.
Though it is clear that they will not own the house, tenants still desire to reside in an environment that wears a style they can appreciate. Of course, they can always dress the place according to their liking, but only up to a certain extent. Built-in elements such as kitchen countertops and cabinets, as well as bathroom fixtures, are a particular focus.
Renovating and updating the property can be a substantial expense, but keep in mind that this will also allow you to demand a higher rental price.
It is good to redecorate the property, yes, but take note that your style preference is not shared by the rest of the majority of the population. Colours and patterns that are overwhelming can also turn off a renter.
It is wise to instead go for more a neutral look such as white, cream, or earth tones.
English people love gardens. It gives a sense of life to the place and is a sign that the house is being cared for. Dying plants or overgrown vegetation may give the impression of a neglectful owner. If your property has a garden, take time to refresh it before advertising the place.
A smart landlord is always careful about accepting a tenant. Background checking is indeed a must. However, you have to know your boundaries and not make them feel like a suspect in a crime.
For example, rather than interrogating them to draw out their personal information, you can provide them with a form that they can simply fill out. You should also limit the things to ask and not make them go through dozens of questions.
Like in any business transaction, it is important to always manage expectations. Potential tenants will quickly turn away if they feel that they were misled or deceived.
Be outright about your asking price, payment terms, and rental inclusions. Your ads should also be accurate based on what you are offering. Do not use photos that show furniture if you are leasing the property bare. Do not say that the station is 5 minutes away when it is actually 15 minutes.
If you are property business owner looking for tips and insights, we invite you to check our Online Property Training Guide!
Learn how to work out ROI on property with simple steps, real examples, and expert tips to analyse property deals correctly.
Read MoreLearn how to become a property deal sourcer with no money or experience. Simple steps, real examples, and UK legal guidance.
Read MoreA clear and simple selective licensing guide for landlords. Learn rules, costs, real examples, and how to stay compliant in the UK.
Read MoreWhy are landlords selling up in 2026? Discover the real reasons the UK rental market is changing and what landlords and investors can expect.
Read More
Claim Your Free Copy
Assets For Life LTD is a company incorporated in England and Wales with registered number 09935286 and registered offices at Assets for Life Ltd, Suite 105, Waterhouse Business Centre, 2 Cromar Way, Chelmsford, Essex, England, CM1 2QE, United Kingdom.
Assets For Life LTD is registered with the Information Commissioner’s Office, with registration number ZA280607
COPYRIGHT © 2024 ASSETS FOR LIFE, ALL RIGHTS RESERVED. WEBSITE BY AMPLIFY MARKETING