Landlords being the number one priority for letting agents is a not-so-well-kept secret. At least, that’s how things used to be. The thought process went something along these lines: there’s a lack of housing stock, and therefore people with bricks and mortar to rent out are worth their weight in gold.
Renters, on the other hand, well, there’s loads of them. In fact, a quarter of the entire UK property market will be made up by the private rental sector at the end of the year. So, they’re essentially an afterthought, right?
Fortunately, the landscape has changed somewhat in the last few years, even if there is still a lack of housing stock and and overflow of demand. These days, the best letting agents realise the importance of renters and how focusing on them means more homes rented and happier landlords.
That’s why this guide is all about how to attract more renters.
Understand that renters are looking for a home
Once upon a time, people rented somewhere while they saved up a deposit to buy their first home. The type of properties they moved into were cheap and cheerful, and saving money was the name of the game. Things have changed over the last 10 years, however.
Today, renting is also a lifestyle choice, and people want to move into a home rather than a stop-gap. As a letting agent, you can tap into this mindset by showing that you're helping renters find their home, whether it’s for 12 months or 10 years.
Show them how you’re all about helping to create memories in a new home by being the first steps on their journey. Show renters you understand how they feel and that your goal is to help them move into a home they love.
Show the importance of an in-life tenancy
Finding renters for a new home is one thing, but what if you also offer property management? Give renters an insight into how your property management section of the business operates and show them how you’ll look after their tenancy if it's part of your business.
How are repairs handled? Who is the primary contact for the renter? How can they access documents, such as an AST, to see how long is left on the contract? Getting people in the home is just the first part if you also manage the properties. Too often, renters are unsure of how property management works, but instead of selling them the dream of getting the keys to their new home, give them the bigger picture when it comes to their new home.
Be bold with your marketing
Marketing is a key component for any business, especially for letting agents looking to attract new renter sign-ups and landlords. Work out which portion of marketing you want to focus on renters and then experiment. You could try a renter podcast, focusing more of your time creating informational email content about renting or increasing your presence with social media influencers.
Your marketing efforts provide an opportunity to show that you understand the renter mindset and are best placed to help them find a new home. A watertight marketing strategy is a great way to target both landlords and renters, especially when you’re not afraid to try new ways of expanding your reach.
Work with renter-first brands
Choosing the right partners can make a big difference in how you’re viewed by renters. For example, here at Movebubble, we’re a renter-first brand and everything we do is catered towards helping people find new homes.
With features like instant chat, video walkthroughs and instant booking, we’re making a difference to the renting experience. And working with partners who put renters first reinforces your commitment as a letting agent to helping them and showing yourself in a good light.
The letting agents everyone wants
There’s no doubt in the importance of finding landlords, but renters are also a vital component to the process. Showing them you’re on their side, focusing your marketing on them with innovative ideas and partnering with renter-first brands will go a long way to winning over renters in your bid to be the best agent on your patch.