When you are looking at a long term rental on your Marbella property, let’s face it face it finding tenants isn’t that difficult. Especially in the summer.
However finding the best tenants is a little more of a challenge for many landlords. In this post we’ll take a quick look at how you should approach things.
Traditionally, advertising long term property for rent, especially in an upmarket area like Marbella was best achieved via use of the newspaper. But because now we are all geared up around the Internet, things have changed a little. It’s not that there was anything wrong with the local paper, it’s just that it was a little less targeted and attracted all and sundry. As well as this, it could also get expensive especially if an owner was going through an agent.
So, let’s say you’ve decided to try the newspaper it, what is the best strategy to adopt? If you need to rent out your property quickly, it’s best to take a look at what other advertisers are currently doing. If you don’t want your rental property to stick around, make the rent competitive. Okay, you may get less in the long-term however, you will spend less on advertising. Identify what sorts of other property there are in the area, and assess the competition.
If you are used to living in the area, you’ll have a good idea which are the most popular newspapers when it comes to property advertising.
When it comes to effective advertising, try to think about what you would look for if you were trying to find a long term rental property. What would attract your attention? People tend to read the first and last of a paragraph of words, so be strategic and make sure any particularly attractive aspects of the property are mentioned right at the start.
This may sound obvious, but make yourself available to take phone calls and answer questions about the property. Be aware that many people don’t like to leave voicemails, they want answers and they want them right away. Every hurdle they have to jump through, makes it risky that they will just move on to another property. This is especially the case if there is a lot of competition.
Having made yourself available to take any calls regarding the property, make sure you handle it professionally. Take notes and ask open questions, not only will you get a greater understanding of what to talk about should you get a viewing, you’ll also quickly realise who is genuine and who is likely to just be window shopping. Time is money, so make sure that yours isn’t wasted.
If you have placed your long-term Marbella rental property with an agent, make sure they’ve got a great looking advertising board. This is advantageous on number of levels. Firstly people driving around looking for properties will notice them, and this could result in an immediate phone call. Secondly, any neighbours in the area will talk to friends and associates.
When it comes to holiday rental property, the above can be a very powerful way of holidaymakers informing their friends and relatives. This can give any property owner a valuable book of potential tenants.
Don’t discount local businesses and companies either. Where there is business, there is usually an need for employees to find suitable rental property. A lot of people want the convenience of living close to their place of work, and anybody letting out a property should be mindful of this. It pays to look at businesses in the local area or any planned events that may be occurring in the future. The same applies for utilities and large operations such as the proximity of transport networks and places like universities and schools. This strategy can often work well where there are seasonal requirements.
It wouldn’t be fair to not mention the Internet in this day and age, and there are many professional property sites that have search functions that allow would-be tenants to refine their choices very accurately. Internet searching is particularly valuable for those who don’t have access to local newspapers. So for instance, those looking for a rental property in Marbella may live in the UK. And so, if they have never visited the area before they won’t have access to local newspapers. Even if they do, newspaper adverts can date very quickly and it is impossible to see if a property is available on a real-time basis.
Once you’ve decided how to attract good quality tenants, that are targeted to your particular type of Marbella property you will want to establish that they are who they say they are and that any long-term rental occupancy will run smoothly and be mutually beneficial.
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