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Target Your Market and Find a Suitable Tenant for Your Property in Edinburgh

By LauraCampbell Subscribe to RSS | March 2nd 2012 | Views:
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One of the biggest responsibility’s that comes with becoming a landlord is, managing the property or properties. You can either do this yourself or hire an agent to do it on your behalf. Letting agents have expertise and they can give you valuable advice of the local market. You can also hire an agent in the beginning to do all the paperwork, attract tenants etc. After this you can take over the running in your own hands. Alternatively, you can let the agent continue his job of providing full management service.

Another way of managing the property is, doing it yourself. You will be saving money but at the same time you will have to spend a great amount of time on advertising, dealing with potential tenants, arranging property viewings, carrying out the repairs etc.

Here are some simple tips which can help you with your property management.

Targeting your market

If you are buying a particular property with the intention of letting it or have already bought one, then you must go for the property with the targeted tenants in mind. For example, if you plan to let property to students then you must buy to let property in localities which are close in proximity to universities, local markets, bus stations etc. It is always helpful to talk to a letting agent at an early stage about the tenants that would appeal to a particular property.

Finding a suitable tenant

You can find a suitable tenant by advertising in the local newspapers, on the internet, university boards, talking to friends etc. You can also approach for employers in the area who are often looking for areas to relocate their staff. You must be really careful with choosing the right tenant. Always ask them for references and also check them out.

Staying in touch with the tenant

As a landlord you must always stay in touch with your tenant and maintain a good relationship in order to ensure that the tenancy runs smoothly. This will help you in the longrun. If issues might arise between you two in future, they can be resolved without expensive legal actions.

Furnished or unfurnished property

They are no legal requirements with regard to this. You are free to furnish your property or leave it unfurnished. However, a good move will be to seek advice from the letting agent about the type of property that will appeal tenants and proceed accordingly.

LauraCampbell - About Author:
Laura Campbell is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on rent flat in edinburgh, please visit to let in edinburgh.

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