7 Secrets of a successful property investor - Secret #4 - Finding tenants quickly

Finding tenants quickly for your property

The 4^th secret I am going to share with you is how we find tenants quickly in any location in the UK.

·         Firstly with 2 months lead time to exchange on your purchased you should survey the property for its rental potential – so email as many letting agents in the area and tell them you have a property to let – proving the square footage and the specification for the property.

·         You will get a variety of emails back providing a mixture of rental figures – you should now consider the ones that came back to you in the best available time and talk to each one and get a feel for their professionalism on the phone – you are aiming to select the best 4 agents from your list. Choose a rental figure in the upper 25% of the range you are given from the agents and don’t place it too high or you will price yourself out of the market.

·         Once you have chosen 4 hungry agents who have been professional courteous you will instruct all 4 of them to market the property for you. Tell them that you are instructing multiple agents so that they are aware of the competition. This is critical for ensuring that they are going to work for you.

·         Tell the agents you are an investor and have more properties to let and if this works out you will be bringing more in to them. Ask them if there is anything that they can do for you in terms of discount.

·         Provide keys to each agent you have instructed and wait for your tenant to be found.

Using this method you are not limiting yourself to one agent and being left behind several other landlords during peak times and you should be able to negotiate down your finders fee.

Secret #5 will explain how to manage your properties once you have a list of suitable tenants in place.

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