Demand for rental property is consistently high in Oxfordshire (particularly over the last four years) while supply of properties is lagging behind. Letting a property can be an excellent place for investment. Of course, there is greater risk in investing in property than, say, a savings account, but with the right approach the reward can also be greater.
Here are five essential tips to enhance your letting experience, especially when you partner with a long-standing agency like Finders Keepers, who has been setting the standard for letting agents in Oxfordshire since 1972.
1. Understand the Market
Researching the local market will give you an idea of the expected achievable rent for your property. Looking at recently let properties that are like yours in size, location and condition should give you a guide on price. Finders Keepers let and manage over 2,000 tenancies every year and can provide invaluable insights into local trends and economic factors that influence tenant demand, ensuring you set a competitive price that attracts tenants quickly without undervaluing your property.
2. Make Your Property Appealing
First impressions are critical in the letting – both in terms of marketing the property online and in terms of physical viewings. A good agent will advise you on any necessary works required to ensure your property is presentable (e.g. fresh paint or any necessary repairs). Finders Keepers have always operated on the basis that properties in the best condition will attract the best tenants at the best rent. Our Renovations and Interiors divisions were set up to help landlords make the most of their properties, working with the lettings teams to establish what will appeal to the target demographic, and often dovetailing any works with the new tenancy.
3. Finding You The Right Tenant
Choosing the right tenants is crucial for a smooth letting experience. Finders Keepers’ lettings teams are not paid on a commission-basis and so their focus is on matching the right tenant to the right property. Thorough referencing, including credit checks, employment verification, and references from previous landlords, ensures that tenants are reliable and will take good care of your property.
4. Create a Comprehensive Tenancy Agreement
There are currently around 145 pieces of legislation that you need to adhere to when letting a property, and many of these laws need to be included in the tenancy agreement. A clear and detailed document is crucial to protect both you and your tenants. Finders Keepers regularly update their tenancy agreement with the latest legislation and their team is industry-qualified meaning you can be confident that they are providing you the best advice.
5. Setting and Maintaining Professional Relationships
Conducting a check-in when the tenant moves in enables you to set expectations at the start which can help prevent misunderstandings later down the line. Maintaining a professional relationship with your tenants is vital to a successful tenancy. Be responsive and respectful, addressing maintenance issues promptly and reasonably dealing with complaints and requests. Finders Keepers, with a team averaging 8.5 years of experience and some having over a decade, excels in providing consistent, experienced service that fosters positive relationships, encouraging tenants to stay longer and take better care of your property.
Partnering with Finders Keepers
At Finders Keepers, we pride ourselves on our connection to the community and our commitment to excellence in property management. Whether you’re a seasoned landlord or new to property investment, our team is ready to help you navigate the complexities of property letting. With our deep roots in Oxfordshire and a track record of high rent collection and occupancy rates and positive tenant feedback, we are not just managing properties—we are building communities and helping landlords succeed.
For more details on how we can help you maximise your property’s potential, contact us on 01295 276766 or at [email protected].
