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landlords
How to Find Tenants for Your Rental Property in Putney
Published 1st July
minute read
Whether you’re a buy-to-let or accidental landlord, finding great tenants for your Putney property is probably up there among your top concerns. This desirable area of south west London is always going to be in demand from renters, whether city professionals or families keen to settle. But while you may get plenty of enquiries, the key to a stress-free let is attracting and choosing the right tenants - ones who will pay their rent, look after the place and hopefully stay for the long term. We look at the key steps to achieving that.
There are two main ways to go about finding a tenant, engaging a letting agent to take care of it for you or going it alone. If you don’t want to use a letting agent, you should at least consider using an online lettings service which gives you access to the property portals Rightmove and Zoopla. Without them, spreading your net wide when it comes to tenant finding will be difficult.
How to find tenants is about marketing your property and the key to marketing is knowing your audience. Start by researching your target market. Think about who lives in properties like yours and what facilities will they want, whether families, young professionals, high-earners or students. If you’re looking at families, for example, is the garden suitable for play, is unfurnished more appealing and should you consider allowing pets?
Do plenty of research on what other landlords are charging in your area to understand what your home is worth to renters, honestly appraising it in comparison. Check all the portals and agents’ listings and set up alerts. If you’re keen to let the home quickly or attract more interest, consider slightly undershooting the norm.
This won’t necessarily affect whether you find a tenant but is a necessary step non-the-less, and part of your landlord responsibilities. Make sure you have a valid gas safety certificate, electrical safety certificate, energy performance certificate (EPC) and landlord licence if you need one, otherwise you can’t legally let the home - and will definitely put off prospective tenants.
If you’re struggling to let the home for any reason or think it might be difficult to attract the right tenants, you could think about incentives that give you the edge over other landlords. Allowing pets is one, another is to let the home with bills included as this can be a major financial worry for some people - but do your sums first.
Possibly the easiest and most obvious way to attract tenants to your rental property is to make it appealing. People need to be able to imagine themselves living there. Make sure it is in pristine condition with a thorough clean, all maintenance issues taken care of and decorated in neutral colours – freshly if needed. For furnished properties, stage the place well so it looks like home.
However you go about marketing the property, make sure that potential tenants have all the details they need upfront such as floorplans, room sizes and what’s included in the rent. Include plenty of useful info about the benefits - how close it is to transport, parks, shops and schools, if appropriate. Make sure photos and descriptions of the property show it off in its best light. If you are using a letting agent’s tenant finding service you don’t need to do all of this yourself, but be sure to brief them on what the home has to offer
Before you agree to show prospective tenants around the property, it is worth organising a pre-screening phone call. Ask plenty of questions to help you narrow down your list to serious applicants. While you’ll also need to do reference and credit checks you can get a feel for whether they are in stable employment and how strong their commitment is to staying in the area.
If a tenant has passed your pre-screening interview and seen the property, you need to complete thorough checks before you sign them up. This involves references from previous landlords to prove their reliability, bank statements and payslips to show they can afford the rent and checks on their credit history. Your letting agent can do this for you, if you are using one or you can appoint an organisation to complete the checks on your behalf.
You can use a letting agent to take care of most of these steps for you, whether marketing the property, screening tenants or referencing. Remember they are the professionals and, while it will cost you more, it’s worth weighing up the fees against the time it will save you. Choose your agency carefully, looking for good local knowledge of the rental market and a great record of letting properties like yours.
If you’re a landlord in Putney looking to rent out property for the first time, we’d love to talk to you about finding the perfect tenants for your home. Contact us today.
1 Decide how to find tenants
There are two main ways to go about finding a tenant, engaging a letting agent to take care of it for you or going it alone. If you don’t want to use a letting agent, you should at least consider using an online lettings service which gives you access to the property portals Rightmove and Zoopla. Without them, spreading your net wide when it comes to tenant finding will be difficult.
2 Pick your target market
How to find tenants is about marketing your property and the key to marketing is knowing your audience. Start by researching your target market. Think about who lives in properties like yours and what facilities will they want, whether families, young professionals, high-earners or students. If you’re looking at families, for example, is the garden suitable for play, is unfurnished more appealing and should you consider allowing pets?
3 Do your research on price
Do plenty of research on what other landlords are charging in your area to understand what your home is worth to renters, honestly appraising it in comparison. Check all the portals and agents’ listings and set up alerts. If you’re keen to let the home quickly or attract more interest, consider slightly undershooting the norm.
4 Take care of all the legal side
This won’t necessarily affect whether you find a tenant but is a necessary step non-the-less, and part of your landlord responsibilities. Make sure you have a valid gas safety certificate, electrical safety certificate, energy performance certificate (EPC) and landlord licence if you need one, otherwise you can’t legally let the home - and will definitely put off prospective tenants.
5 Consider incentives
If you’re struggling to let the home for any reason or think it might be difficult to attract the right tenants, you could think about incentives that give you the edge over other landlords. Allowing pets is one, another is to let the home with bills included as this can be a major financial worry for some people - but do your sums first.
6 Stage the property effectively
Possibly the easiest and most obvious way to attract tenants to your rental property is to make it appealing. People need to be able to imagine themselves living there. Make sure it is in pristine condition with a thorough clean, all maintenance issues taken care of and decorated in neutral colours – freshly if needed. For furnished properties, stage the place well so it looks like home.
7 Sell your property’s benefits
However you go about marketing the property, make sure that potential tenants have all the details they need upfront such as floorplans, room sizes and what’s included in the rent. Include plenty of useful info about the benefits - how close it is to transport, parks, shops and schools, if appropriate. Make sure photos and descriptions of the property show it off in its best light. If you are using a letting agent’s tenant finding service you don’t need to do all of this yourself, but be sure to brief them on what the home has to offer
8 Screen your tenants carefully
Before you agree to show prospective tenants around the property, it is worth organising a pre-screening phone call. Ask plenty of questions to help you narrow down your list to serious applicants. While you’ll also need to do reference and credit checks you can get a feel for whether they are in stable employment and how strong their commitment is to staying in the area.
9 Reference tenants thoroughly
If a tenant has passed your pre-screening interview and seen the property, you need to complete thorough checks before you sign them up. This involves references from previous landlords to prove their reliability, bank statements and payslips to show they can afford the rent and checks on their credit history. Your letting agent can do this for you, if you are using one or you can appoint an organisation to complete the checks on your behalf.
10 Consider using a letting agent
You can use a letting agent to take care of most of these steps for you, whether marketing the property, screening tenants or referencing. Remember they are the professionals and, while it will cost you more, it’s worth weighing up the fees against the time it will save you. Choose your agency carefully, looking for good local knowledge of the rental market and a great record of letting properties like yours.
If you’re a landlord in Putney looking to rent out property for the first time, we’d love to talk to you about finding the perfect tenants for your home. Contact us today.
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About Chartwell Residential
We are recognised as the premier Putney estate and letting agent for selling modern apartments throughout South West London, specialising in riverside properties along the Thames. We have an extensive portfolio of quality properties in sought after locations throughout SW15.
We recognise the challenges associated with buying, selling, letting, or renting, which can be overwhelming at times. We are here for you during those crucial moments, striving to ensure that the process is as stress-free as can be.
