Tenants Choose By Comparison
Typically, most tenants will look at about half a dozen properties before making a decision as to which one they should rent. Some people look at just a couple, and others spend months considering each and every one of the dozens of properties that come on the market within their price range.
Even though many of the properties offered to a typical tenant are likely to fit the minimum criteria they request, the tenant is unlikely to rent a specific property, however well-suited it may be, unless it can be seen in comparison with others.
The psychology of the decision process generally dictates that people make realistic comparisons between properties (or holidays, or cars, or shoes, or even toothbrushes for that matter) before they feel qualified to make a decision based on the relative merits of each one they see.
Part of our job involves helping tenants making a buying decision that is genuinely in their best interests, as well as those of our client, the landlord.
We therefore encourage our prospective tenants never to exclude a property without having first seen it in context. Although the asking price is a critical consideration, it is the relative value that is even more important. A property is worth not what the landlord put in, but what the tenant gets out of it in relation to an alternative property.
It is therefore important to go the extra mile in seeking to make your property as attractive a possible during the letting process, not just by keeping it clean and tidy, but also by quoting a competitive price, and being flexible over entry date and contents. If you make your property attractive in these ways, our marketing and ongoing management will help you maximise your return on investment.
Posted By Teresa Henson