Marketing update – raising the bar
As a managing agent one of our jobs is to monitor the market and advise on changes afoot. We have been mentioning for a number of years that the rise of PBSA buildings means expectations are higher, and competition fiercer. In fact, our first newsletter on this subject was sent to all landlords in 2013!
One way to stay at the fore front is to raise the marketability of the houses. This includes dressing them appropriately, with fixtures that remain in the property. Wall art, rugs, colour coordinated furniture, and good quality furnishings, all play a part. We work with a superb interior designer who has worked on a number of properties for us and other local agents and has a good working brief to provide a quality product.
Coupled with this is quality marketing materials. We pride ourselves on our marketing, the the quality of photos we take ourselves (we use a good quality moder digital SLR with a wide angle (10-22mm) lens, and a tripod and flash equipment), however when a house is dressed well we strongly recommend commisioning quality photos. Above is a property that has recently been dressed by our recommended interior designer and photographed by our recommended photographer. We will arrange this on your behalf.
These changes will mean the difference between earning £85 per week and £100 per week for the above example – around £260 increase in monthly income, or nearly £3000 over the course of a year. Your return on investment on investment would be approx £15000, versus a cost of under £3000.
By staying at the top of the market, you ensure your property lets early and reliably each year and you have very happy tenants.
If you would like us to arrange for upgrade works please let our lettings negotiator, Ben Fryer, know.