Here is a thought leadership article from LeadPro
In 2021, over one-third of all the UK households were renters, and that number has been on the rise for the past 20 years.
According to the RICS UK Residential Market Survey from August 2021, tenant demand for homes to rent is rising even more, with a growth of +66% in enquires (up from the +58% in the previous month).
Although the property portals and other marketing efforts provide a good stream of applicants looking to rent, a lot of lettings agents are struggling to find new landlords and grow their portfolios. With having thousands of agent-users on LeadPro, these are the tricks that helped them in finding new stock to rent out!
1. Identify Property Investors
With mortgage rates tumbling, and rents rising in most of the UK, a lot of landlords are very keen to expand their portfolios this year. So, qualifying the buyers correctly today can help in getting a new landlord tomorrow!
Make sure your sales department gets the most information from the buyer possible. You want to know if the potential buyer is buying their first property, or buying as an investment opportunity - Investors are likely to be renting their property soon. Even if they don’t need the tenants for the property they’re buying now - it’s worth keeping in touch with them in the future, in case they’re in a good position to buy more stock.
LeadPro’s Lead Responder Tool can help you pre-qualify the applicants, with no effort needed on your end. It instantly responds to every portal enquiry and sends all applicants a pre-qualification questionnaire, allowing you to prioritise applicants who are investors, or have a property to let. And the best thing? It instantly refers them to your lettings department!
2. Ask the tenants!
A lot of people looking to rent a new place are currently tenants, and the place they’re currently living in will probably need new tenants soon!
To identify these opportunities, it’s important to ask the applicants about their current position. If they’re currently renting privately from a landlord, they might be keen to share their landlord’s details with you, which can then be used to both check their tenancy history, as well as the potential business opportunity! If the tenants have given their notice already, their landlord is likely to be looking for new tenants soon - you can easily check that while referencing the applicant.
Knowing how busy the market is, our Lead Responder tool can do all the above for you! It qualifies the applicants by their current tenancy information, and - if applicable - gets the information on their current landlord.
3. Online Marketing efforts
In the digital era, advertising to potential landlords might not be as easy as it might seem - especially if you’re starting with a blank canvas. Social media presence and advertising to potential landlords can open up a whole new market for your agency, but it’s just not that simple!
Very few people are willing to sell or let their property as soon as they start doing their research on the home value, or the businesses that can help them in getting the best price - that’s where the nurture comes in place. It’s important you provide the potential landlord as much helpful information as possible and nurture them into trusting you with their property.
Make sure you provide them with engaging, high-quality content that will position you as the industry leader in your area.
Local business events might be a great way to meet new landlords, especially if you know about some property investors meet-ups in your area. Attending these events will surely help in getting your name and face known!
5. Offer free advice
We all love free content, especially if they’re coming from a high-authority figure within the industry. Creating content to give out for free, or providing the potential landlords with free advice might seem like undervaluing your time and expertise, but it’s a great way of positioning yourself as the business they can trust.
A lot of landlords might be new to renting out their properties and are not familiar with the process, how long the process might take, or the legislation. You, as the expert, should provide them with the most up-to-date information on the market trends, and expectations, as well as patiently answer to all the questions they might have about renting their property out.
Once they see you as an expert in the field, they’ll be more likely to trust you with their property.
6. Renting as an alternative to selling
In case you’re out on a sales valuation, you can let the potential seller about how much their property could be rent for. Under the right circumstances, renting can be very lucrative for the right person!
Also, there are a lot of properties that have been on the market for quite some time, without getting sold - offering the owner to consider renting the property out can bring in a new landlord very soon!
Who are LeadPro?
LeadPro is a fully integrated marketing platform that helps to convert website visitors and portal enquiries into booked valuations.
Our software has been developed in partnership with leading agents over the last five years to provide an intuitive and easy-to-use platform designed for winning new business and growing market share whilst monitoring high-level KPIs.
LeadPro Instant Valuation Tool can be added to your website, email, and social media, and turn unknown visitors into valuation leads. The Lead Responder Tool instantly responds to every portal enquiry with a branded email and text message, sending all applicants a pre-qualification questionnaire to find out if they have a property to sell or let. Our Autocaller allows you to speak to high-value portal enquiries before your competitors do, helping you win more business. We've recently added Social Media Marketing to the list of services we provide, helping you increase brand awareness, improve lead generation and revenue-driving efforts. And the best part? You can track all your leads' statuses inside of our LeadPro Dashboard and understand which sources provide the best ROI.
Here’s your exclusive kerfuffle deal: 50% off of Power Agent Set Up Call for Kerfuffle members only. Interested? click here.
Respond and qualify leads quicker with LeadPro. Watch the full Supplier Spotlight webinar: