James Davis – Portfolio Landlord & Property Expert
After being a landlord for 22 years and becoming increasingly frustrated with the lack of quality tenant find services for landlords, James started Upad. Upad have mastered the intricacies of online to provide landlords a service they can rely on. In this article James deciphers how to make the most of the one real chance landlords get to maximize enquiries on leading property portals.
What’s More Important than Price?
When advertising your property online, it’s important to be aware of landslide shifts in the way your ads are listed.
It used to be that the biggest online property platforms, Rightmove and Zoopla, displayed their search results by price. You’d simply enter your criteria (number of bedrooms, location, etc.) and then see properties arranged by price. Now things have changed.
No second chances
Today, is it the most recently posted adverts that are listed first. What’s more, you can’t re-upload the same property at a new price unless the rental price changes by at least 2%.
This has had a huge effect on how landlords approach online advertising.
Previously, landlords could advertise their properties at a speculative price a few months before the end of the tenancy, and then progressively lower the price on the ad as the move-out date drew closer. This let landlords fish for a higher rent while minimising the risk of vacancies.
Now, however, this is extremely dicey. Because the advert is only at the top of the pile for a day, landlords cannot afford for that prime-time ad-space to be used speculatively. You will be on page seven by the time you reduce it to an affordable rent. And of course, by that time you can no longer easily re-upload your property in order to bump it back to the top of the pile.
Your property advert will only be top of the pile for the first few hours. It’s essential therefore to have your advert looking perfect as soon as you upload it.
This becomes even more obvious when we consider that 63% of searching tenants have property alerts set up. Setting up an alert allows the tenant to be sent an email linking to any new property that is uploaded if it fits their criteria. This happens in a matter of minutes.
Making sure your advert has a competitive rent, amazing imagery, a floorplan and a detailed description as soon as it goes live is a must in the current online environment. The best chance your ad has to succeed is as soon as it is published.
Article Courtesy of: Upad