Let’s face it, being an HMO landlord isn’t easy. On any given day you might be chasing rent, making repairs, handling evictions, dealing with complaints, and so on. It’s never-ending!
Among the smorgasbord of troublesome tasks thatlandlords handle, though, there’s one that trumps the lot: finding occupantsfor empty rooms.
As you know, short-term leases and itinerantindividuals combine to create sky-high levels of tenant turnover these days.It’s like a revolving door, which puts you under constant pressure to plug thegaps and keep the cash coming in.
That’s why many landlords try to find a tenant serviceor letting agent to help. These companies are set up to make your life easier.They’ll market your property, manage the enquiries, and then send prospectivetenants your way. But first you have to pick the right one for the task!
Want to learn to do it? Read on to discover our toptips for finding a tenant service that works.
Leverage the Internet
The internet’s a great place to start the hunt foranything, including HMO tenant-find services! Hop online and do a quick Googlesearch to reveal the viable options in your area. You can then check out theirwebsites, read through customer reviews and testimonials, and use thatinformation to draw up a shortlist of promising services to pursue.
Don’t stop there though. Visit landlord forums, relevant Facebook groups, and Google customer reviews for extra sources of insight and suggestions. The more diligent you are in the search, the more likely you are to find the best tenant service for your needs.
Phone a Friend
Think about your network of friends, family, colleagues and acquaintances. Do you know any other landlords who might be able to offer advice? If they’ve used tenant-find services in the past, then they might be able to recommend the perfect company for your needs.
Even better, you’ll be able to ask all about their experience as well. Unlike online testimonials, this gives you a chance to uncover the pros and cons from the horse’s mouth. In other words, you get an unbiased review about a company’s credentials from someone you trust! That’s a major advantage when it comes to making a final decision.
Check Their Services
Imagine a company that specializes in advertising HMO landlords’ property listings but doesn’t perform reference-checks on prospective tenants. You could end up with lots of interest, but from unsuitable individuals.
As you know, that’s often a one-way ticket to wastedtime and mounting frustration.
This example demonstrates the importance of choosing a tenant service that not only comes highly recommended, but offers the actual services you need. Always take the time to verify this fact before you hand over your hard-earned cash. Read their services page and/or reach out to their customer service department to double-check.
Assess Their Marketing Acumen
The next step to finding a tenant service that works is to assess their marketing methods. After all, this is arguably the most important part of their role. It’s literally their job to take your listing, promote it in the right places, and find potential tenants in the process.
Alas, many services have different ideas about what constitutes ‘effective marketing’. Some substandard services do nothing more than place an ad on one or two (free-to-use) real-estate platforms. You’d be better off doing the marketing yourself!
Thankfully, there are others (like ours) that go the extra mile. As experts in the field, we understand the best avenues in which to advertise your property- including exclusive platforms that most landlords don’t have access to. From Badi and Facebook Marketplace to The House Shop and Prime Location, your listing’s sure to be seen by significant numbers of prospective tenants.
Consider the Cost
For overworked and beleaguered landlords, having the help of an effective tenant service can be priceless. However, it still has to be affordable! Last but not least, then, you should take the list of possibilities and compare prices until you find one that falls within budget.
If a company’s asking-price would take too much away from your margins, then you’ll need to a) negotiate them down, or b) look elsewhere. We suggest treating this like an investment though. Paying a little more than you might wish to could pay for itself twice over in terms of the support you receive and the positive results that follow.
Exactly How to Find a Tenant Service That Works
Thanks to the current rate of tenant turnover, finding amazing occupants for empty rooms can feel like an uphill battle for HMO landlords. You’re engaged in a perpetual struggle to market the property, respond to messages, show interested people around, and convince someone to stay.
Wait too long to fill the space and you lose out onall-important rental income.
The good news is that there are plenty of companies out there who can help with this time-consuming process. The bad news? Finding the right tenant-find service for the job can be hard work too! That’s why we put the tips in this post together. Keep them in mind and you should have a greater chance of choosing the best service for the task.
Are you looking to find a tenant service that works? Well, as room rental marketing experts, we can certainly help. Contact us today to find out more.