Cost effective ways to market your property

Posted: 4th Jun 2014

If you are looking for tenants to fill your vacant property, then taking a multi pronged approach need not be as expensive as you may think. There is little doubt that good letting agents are worth their weight in gold by finding and vetting prospective tenants.

If you would rather try and find a tenant yourself, however, or you want to up the ante and also try and fill the void as well as use letting agents, then the good news is that there are a number of cost effective ways that you can market your property.

You don’t need to be an internet whizz or spend lots of money – here we share some ideas…

Social media

Firstly, use social media. Platforms such as Facebook and Twitter can allow you to easily spread the word. But don’t be too specific as to the address – an unoccupied property is attractive to burglars and while you know your own circle of contacts, your message could end up in the hands of someone you’d rather it not.

Keep the advert succinct, professional and make it easy for anyone interested to be able to get in touch with you.

Websites for landlords

Look online for specific landlords websites and forums for ideas on where you can also advertise. Many of these items will have up to date web addresses of places where you can place (sometimes) free advertisements.

Who’s your ideal tenant?

Think about your property and your target tenant. If it is a student let, then contact local universities and colleges to see if you can be placed on their accommodation lists.

Similarly, if it a smart flat, get in touch with nearby corporate businesses who may be looking for long term corporate lets.

Get networking

Join local business networking groups. These attract all types of business people, usually with a wide circle of contacts, who you can tell about your property. The more people you tell, the more chance you have of finding a tenant.

These are just some ideas of how you can advertise your investment property – many of which are free. All it takes is a little effort, and your property could soon be tenanted again.

Get it covered!

Finally, don’t forget to make sure your property has adequate insurance while it is standing empty. With most landlords insurance policies, once a property has been unoccupied for 30-45 consecutive days, then the policy will become invalid and you’ll need unoccupied property insurance. At Cover4LetProperty, we will only be too happy to advise you on the most suitable cover, so don’t be shy about getting in touch!