Being a landlord, as liberating and self-governing as it can be, brings with it its own set of nightmares. The leading one being an empty property. When you have no tenants, you are losing potential income every single day. And as the days go by, your property is slowly losing its value and appeal that is unless you maintain it well. Which will cost money. Money that you may not have since you do not have tenants.
It is therefore quite important to attract tenants to your HMO. The thing about this whole thing is this: you do not want to attract just any kind of tenant. You want to attract the stable types. Tenants who will pay their rent on time, lease the unit for months on end and take good care of your property. You do not want to be advertising for a new tenant every two weeks.
To attract these kinds of tenants, you need to get smart and a little sly. Here are the 3 tips for advertising your HMO to attract the right kind of tenant.
It is all about presentation
The very first interaction that potential tenants will have with your property is probably the images they see of it. Most people look for places to live online now. And as much as you may write a beautiful description of the property and the surrounding areas, no one will take you seriously until they see just how gorgeous the property really is for themselves.
This means high-quality, well-taken pictures. Hire a professional photographer who knows how to use angles and lighting to portray the property in its best image. Try to focus on the unique features of the house as well as some local attraction. Basically, sell a lifestyle, not just space.
Advertise it in all the right places
Simply putting up posters and maybe a placard in the yard that reads ‘Vacancy’ is not enough anymore. Half of the world has access to the internet now and you can bet your bottom quid that they are using it. Why not try your hand at advertising online as well as offline? You can use websites such as Rightmove, which generates over 20 million enquiries every year. These kinds of sites are frequented by people who are looking to rent space. You stand a better chance of finding your next tenant here. Include beautiful images, a wonderful property description and your contact information. Try to respond to every enquiry you get.
Employ excellent timing
Advertising your property without alerting your current residents can be a little problematic. As much as it is your property, your sitting tenants have a right to know when you want to show the property and bring in new tenants. Their corporation is vital if you are going to present your HMO as a harmonious living community. Communicate with them and get their support.
It only takes a little imagination and time investment to create the perfect advert that will generate enough public interest to get you the right kind of tenants for your HMO.