“Compare Rental Properties”

Tenants Compare the Rental Market

Typically, most Tenants will look at about half a dozen properties.  Then, they’ll make a decision as to which one they should rent.  Some tenants look at just a couple of properties.  Many months may pass while tenants compare the rental market.  They’ll consider each and every one of the dozens of properties within their price range that come on the market.

Many of the properties offered to a typical Tenant are likely to fit the minimum criteria they request.  However the tenant is unlikely to rent a specific property, however well-suited it may be, unless the property has been seen in comparison with others.

The psychology of the decision making process generally dictates that people make realistic comparisons between properties.  It’s the same for holidays, or cars, or shoes, or even toothbrushes for that matter!  Some time may pass before they feel qualified to make a decision.  Their decision is based on the relative merits of each property (or item) they see.

Relative Rental Value

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.

Landlords should recognise the importance of going that extra mile in seeking to make their property as attractive as possible during the letting process.  Not only should you keep it clean and tidy, but also quote a competitive price.  Also you should be 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 R.O.I. (Return on Investment).

For details of our Tenancy Management service call our professional team at Callaways (Residential Sales & Lettings) on 01273 735237 or enquiries@callaways.co.uk .