{"id":644,"date":"2020-05-27T18:09:31","date_gmt":"2020-05-27T17:09:31","guid":{"rendered":"https:\/\/www.propertyunder50k.com\/blog\/?p=644"},"modified":"2020-05-27T21:10:56","modified_gmt":"2020-05-27T20:10:56","slug":"how-to-survive-in-a-tenants-market","status":"publish","type":"post","link":"https:\/\/www.propertyunder50k.com\/blog\/2020\/05\/27\/how-to-survive-in-a-tenants-market\/","title":{"rendered":"4 ways how to survive in a tenants’ market"},"content":{"rendered":"\n

Landlords face increased competition for long-term tenants. With short term holiday rentals being down due to covid-19 \u2013 many switched to renting their property long term. How can landlords survive in this tenants’ market?

Here are 4 tips to get landlords through this tough period in a tenants’ market.<\/p>\n\n\n\n

Leasing a\nresidential property has always been a challenge, now it got a little harder<\/h2>\n\n\n\n

We saw a\ntrend in some cities where residential properties where used to rent it out to\ntourists. This short-term rental was far more lucrative and therefore very attractive\nfor the owner. With that almost coming to a complete hold, we see a reverse\neffect as those landlords now are entering the long-term rental market.<\/p>\n\n\n\n

Another difficulty\nwe face is the social distancing rules \u2013 although they recently relaxed those\nrules slightly. Still, some prospective tenants are uncomfortable about\nentering a property and worst, if there are tenants still living at the place, they\nmight not like any strangers entering their home at this time.<\/p>\n\n\n\n

1 Adapt to\nnew conditions<\/h2>\n\n\n\n

The smart\nlandlord will do some research to recognise and adapt to these new conditions. Luckily,\nwe can do so by doing our research online. <\/p>\n\n\n\n

You may eve find an opportunity here in this challenging tenants’ market. For example, some landlords that own property near hospitals were able to rent out their places to hospitals or medical staff as those needed to stay separate from their family to don\u2019t put them at risk.<\/p>\n\n\n\n

2 Stay\nrealistic<\/h2>\n\n\n\n

Don\u2019t push\nthe rent up to test the limit. This can cost you valuable time and money, in\nthe end, you might only get a smaller rent anyway but maybe wasted 2 months in\nwhich you could have already earned. Make sure you are realistic and meet the\nmarket. <\/p>\n\n\n\n

You may also consider to rent the property for a shorter period than the typical 12-month period. This might be more convenient for some tenants that are in an uncertain situation. Being flexible in that way can give you this little extra advantage.<\/p>\n\n\n\n

3 Present\nyour property in the best light<\/h2>\n\n\n\n

To present your place at its best is crucial. Some landlords or agents who take some quick photos with their cell may not take a good approach. As always, and especially now, the first impression is important. Great photos, with good light, showing a tidy property can make all the difference to stand out from other offers. <\/p>\n\n\n\n

\"\"
Image by Michal Jarmoluk<\/a> from Pixabay<\/a><\/figcaption><\/figure>\n\n\n\n

If it is\nnot possible to show your property at its best because it just isn\u2019t at its\nbest maybe now would be a good time to do some maintenance or upgrading. A\nlittle bit of paint and well-chosen decoration can make miracles.<\/p>\n\n\n\n

4 Advertise\non a wider market<\/h2>\n\n\n\n

Take advantage of online real estate platforms such as www.listproperty4free.com<\/a> where you can list property ads for free.  Also, often a local classified portal can get you the right audience.<\/p>\n","protected":false},"excerpt":{"rendered":"

Landlords face increased competition for long-term tenants. With short term holiday rentals being down due to covid-19 \u2013 many switched to renting their property long term. How can landlords survive in this tenants’ market? Here are 4 tips to get landlords through this tough period in a tenants’ market. Leasing a residential property has always … Continue reading 4 ways how to survive in a tenants’ market<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[236],"tags":[280],"yoast_head":"\n4 ways how to survive in a tenants' market - propertyunder50k.com<\/title>\n<meta name=\"description\" content=\"...holiday rentals being down due to covid-19 \u2013 many switched to renting their property long term. 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