As the rental market becomes more competitive, it’s imperative that landlords start advertising to other types of tenants. These might include those who have just moved or are looking for a new place. A common denominator in many of these is an institution like a university, hospital or care home.
If you're thinking about renting to institutions and want to do it well, here are some tips for letting to housing associations:
-Get your property professionally marketed on Facebook and other social media platforms
-Create a professional profile for your property on Homelet, which can help you generate potential tenants quickly
-Think about the type of tenancy you want, from the length of time they will stay and what their needs may be
-Consider all the benefits of renting with an institution like grants available for maintenance fees, disability allowances and more
One of the main reasons for landlords to advertise to institutional tenants is that these tenants typically have more money, are more likely to pay on time and be more responsible and reliable than private tenants. They’ll also need less maintenance because they have their own support staff, which will save you a lot of time and hassle.
Additionally, there are grants available for landlords who rent out property to housing associations; these grants can cover the cost of the agency fees
and the tenant’s rent for a specified amount of time. Other benefits include disability allowances, tenancy grants and other financial incentives.
One of the biggest challenges with renting to institutions is that they generally don't have the same marketing reach as individuals. If you want to advertise your property to these types of people, you could use social media platforms like Facebook and Twitter. This is because many institutions have a large following on these platforms. However, make sure that you are targeting your potential audience effectively by making sure that their interests are aligned with what you're trying to sell.
If you're going to market your property digitally, we recommend considering Homelet's marketing tools as they can help streamline the process and give landlords access to a wide range of potential tenants online. With this in mind, make sure that you prepare your property before entering its details on the site so it stands out from other listings. For example, if your property has a kitchen with an oven and hob, mention it in the description so visitors know what they are getting into when they book it.
It’s important to make your rental property stand out from the rest. You need to get it professionally marketed on Facebook and other social media platforms. This could include:
-Using an image that specifically represents your property
-Creating a video, which is a good way to capture the attention of tenants and increase conversions
-Sending direct mailers or advertising in local newspapers
With all this marketing, you will attract more potential tenants for your property. It's also possible to increase the number of people viewing your profile by making sure it looks professional. Make sure you include all relevant information about yourself as well as any work references, past employment history or qualifications they might be interested in. Include photos of the inside and outside of your property and list some of the things tenants can expect to find when they move in so they have an idea beforehand.
Finally, think about the tenancy type and what they need. It’s important to think about these aspects when letting your property to housing associations.
For example, if you are renting to students, it’s best to advertise that the property is close to a university and has easy access to public transport.
If you are looking for long-term tenants and want them to be able to move in quickly, make sure the property is ready for them when they arrive.
Other aspects of renting with an institution might be things like grants available for maintenance fees, disability allowances and more – just ensure you’re clear on what these are before letting your property out.
Renting with an institution can prove to be a very fruitful opportunity. For example, if you have tenants who are moving into your property, you could get grants for maintenance fees and disability allowances. You can also find grant funding when they leave the property at the end of their tenancy.
Additionally, you may not need to worry about meeting your rental costs in some cases because some housing associations offer grants for landlords.
It’s important to consider all the benefits of renting with a housing association so that you can decide if it’s worthwhile for your business.
