Why hasn't your property let yet?
If you have one or more properties that are staying on the market for longer than usual, it's time to ask why.
Time to refurbish or time to sell? If your property is struggling to let, or not achieving the rents you're looking for, Seekers can help.
What are the reasons that properties stay on the market?
There are a multitude of reasons why your property may still be on the market. Some of the most prevalent reasons include:
You've priced your property too high - people are always looking out to make sure they are getting the best bang for their buck, especially when it comes to students, so don't price yourself out of the market.
The condition of the property isn't up to scratch - Just because it's a rental property, doesn't mean that it should look basic and in need of repair. This can seriously hinder your chances of letting your property, so make sure any refurbishments have been carried out, and that your property is a reflection of the kind of place you would be happy to live in.
Inadequate marketing - If you're letting a property for the first time, it can be tricky knowing where to start and what to do. Part of a successful letting is ensuring that you have marketed the property as well as you can to try and maximise the amount of potential renters enquiring. At Seekers, we offer a Tenant Find service, which will match a tenant to your property, taking some of the stress out of waiting.
What can I do?
Ask our lettings team for detailed feedback on the condition of the property and what prospective tenants have commented whilst on viewings. Take a look at other rental properties we have available, the condition they're in and the rents they are advertised at to get an idea of the competition and realistic rental prices.
It's easy, especially if you don't live in Newcastle or within easy distance of your property, to let the years pass and the rent come in without putting further investment into the property. Think about when the kitchen and bathroom were installed, should they be replaced? Even just re-painting and buying some new furniture or flooring can make a massive difference in how quickly your property is let and increase the rent.
How else can Seekers help?
We offer a range of landlord services including, a valuation of your property, advice on how to increase the rent with the benefit of an in-house complete refurbishment service and our burgeoning sales team who can also provide a free sales valuation if you choose to sell.
If you'd like to find out more, call us on 0191 243 1000, or visit our Percy Street Office.
