Hard-to-Let Properties: Understanding the Challenges and Solutions
What Are Hard-to-Let Properties?
A hard-to-let property is one that struggles to attract tenants, often remaining vacant for extended periods. This can result in financial strain for landlords due to lost rental income, ongoing maintenance costs, and council tax liabilities.
Why Are Some Properties Hard to Let?
Several factors contribute to a property being difficult to rent out, including:
1. Location Issues
- Poor transport links
- High crime rates in the area
- Lack of local amenities (shops, schools, healthcare)
2. Poor Property Condition
- Outdated interiors or lack of modern features
- Poor energy efficiency (high heating costs)
- Damp, mould, or structural issues
3. Overpriced Rent
- Charging above the local market rate
- Failing to adjust pricing based on property condition
4. Competition from New Developments
- Newer rental properties offering better amenities
- Professional build-to-rent schemes attracting tenants
5. Restrictions on Tenants
- No DSS (housing benefit recipients) policies limiting demand
- No pets or strict tenancy agreements deterring potential renters
Solutions for Hard-to-Let Properties
1. Improve Property Condition
Invest in minor renovations such as:
- Fresh paint and modern decor
- Energy-efficient upgrades (LED lighting, insulation)
- Addressing maintenance issues promptly
2. Adjust Rental Pricing
- Compare local market rents and adjust accordingly
- Offer incentives such as rent-free periods or flexible deposits
3. Enhance Marketing Strategies
- Professional photography and virtual tours
- Listing on multiple property platforms
- Highlighting unique selling points (garden, parking, transport links)
4. Consider a Different Target Market
- Allowing pets to attract a wider audience
- Offering short-term or furnished rentals
- Partnering with local businesses for corporate lets
5. Work with a Property Management Company
Professional agencies like Fraser Bond can help landlords by:
- Marketing properties effectively
- Vetting potential tenants
- Managing rental agreements and maintenance
How Fraser Bond Can Help
At Fraser Bond, we specialise in helping landlords with hard-to-let properties. Our expert team can:
- Conduct market analysis to price your property competitively
- Offer property management services to attract reliable tenants
- Provide guidance on renovation and staging to enhance appeal
Conclusion
If your property is struggling to attract tenants, don’t leave it sitting empty. Small adjustments to pricing, marketing, and presentation can make a big difference. Contact Fraser Bond today to turn your hard-to-let property into a successful rental!
