What Agents should look for when working with a landlord

Since October 2008, many areas across the UK have become a tenants’ rather than a landlords’ market. Rather than chase to secure landlords’ properties to rent, in many areas it’s much more important to secure tenants for the landlords’ properties you already have on your books.

This kind of market means that you need to choose your landlords carefully so that you don’t spend too much time on properties that you can’t let and end up with frustrated customers.

In a market where tenants can take their time to choose which property they want, it’s important to work with landlords who understand that the property needs to be either:

1.    In top condition so it lets before competitor property.
2.    The best value rent on the market compared to others.

You also need landlords that are realistic about the rent they can achieve and are happy to base their rental income on what the market can bear rather than what they need to cover their costs!

Finally, make sure you look for landlords that understand it’s better to rent a property out at £450 per month than wait a full month and lose £450 per month waiting for a tenant that will pay £500 per month. 

It may even be worth talking to landlords locally who normally let their properties themselves, but are struggling in the current market conditions. You could offer to just find the tenant for them and then let them do the rest of the work.