60 viewing requests, 19 viewings today – is it a record?

by Mark Alexander

18:32 PM, 9th March 2015
About 4 years ago

60 viewing requests, 19 viewings today – is it a record?

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60 viewing requests, 19 viewings today – is it a record?

My tenants gave notice a month ago and moved out today, they didn’t agree to viewings during the notice period because they have a young baby which is fair enough. Nevertheless, as soon as I was given notice I advertised the property with Letting Supermarket who immediately began marketing the property for £100 more than I was previously charging in rent. They had over 60 enquiries! Letting Supermarket

My tenant moved out today so I went along to the checkout and everything was left spotless. Letting Supermarket had 19 viewings this afternoon and 9 of the prospective tenants wanted to move forward to referencing immediately. Based on the demand, the agent doing the viewings suggested to tenants that they should make a best offer, subject to referencing of course. The best offer so far is from a working couple with no children or pets and should reference up for RGI no problem at all. Best of all they want to move in next weekend and are happy to pay £50 pcm over the asking price

Fingers crossed on the referencing process.

It gets better though!

Tony at Letting Supermarket noticed I had a similar property in the area and called me to suggest increasing the rent on that one by £100 pcm too given the obvious rental demand in the area. Not a bad day hey, I could be £250 a month better off and best of all I only pay Letting Supermarket 4% of rent.

If you are looking for a place to invest with mega high demand, low capital values and hence high yields, take a look at the Council Estates in Thetford, Norfolk. They are not the prettiest of properties but the demand for them is absolutely staggering!

I’ve added a contact form for Letting Supermarket below, just in case anybody has a vacant property in Thetford. That said, wherever you are in England, chances are Letting Supermarket have an agent in your area too.

By the way, Letting Supermarket launched a £250,000 Crowd Funding pitch last week which is already fully funded, so expect to see them advertising on your TV in the coming months.

For the sake of transparency, note that I’m a marketing consultant and non-exec Director to Letting Supermarket but I can absolutely assure you this is an entirely true personal experience of mine and I can prove it if required.

Contact LettingSupermarket.com



Comments

Tony Sheldon

22:31 PM, 9th March 2015
About 4 years ago

Thetford - amazing. We are still taking rent offers today and so far have £50 pcm over the asking price with an immediate move in subject to referencing
Tony

Paul Parker

10:32 AM, 10th March 2015
About 4 years ago

This all sounds great but I think it is slightly disingenuous to suggest how great an agent or agency is (no matter how great they are) and then mention right at the end that you are a marketing consultant and director of said agency.

Mark Alexander

10:38 AM, 10th March 2015
About 4 years ago

Reply to the comment left by "Paul Parker" at "10/03/2015 - 10:32":

Why?

It's all true, and it is certainly no secret that I'm a non-exec Director of LettingSupermarket.com, I discuss it regularly on my blogs here.

Also, as the founder of Property118.com does that not give me the right to promote my clients, sponsors and business interests?
.

Paul Parker

10:58 AM, 10th March 2015
About 4 years ago

Ok, I didn't realise this was your website. Of course, you are well within your rights to advertise your businesses. I'm now in the know. Thanks,

Mark Alexander

11:08 AM, 10th March 2015
About 4 years ago

Reply to the comment left by "Paul Parker" at "10/03/2015 - 10:58":

Hi Paul

You're welcome, no offence taken 🙂
.

Joe Bloggs

12:24 PM, 10th March 2015
About 4 years ago

hi mark,
what do you think is the reason for the 'mega demand' in thetford?

Mark Alexander

12:37 PM, 10th March 2015
About 4 years ago

Reply to the comment left by "Joe Bloggs" at "10/03/2015 - 12:24":

Hi Joe

The reason for the mega demand in Thetford is the lack of supply. The postcode for my property is IP24 1DE. Taqke a look at Rightmove (pre-populated link here >>> http://goo.gl/KEeQqZ). As you will see, there's virtually nothing else available at the moment!

My property is within walking distance of the industrial estates where a huge number of Eastern Europeans have come to work. The demand is not only from these workers though as they have taken most of the supply out of the market which impacts the indigenous population too of course.
.

Sam Addison

13:07 PM, 14th March 2015
About 4 years ago

Mark, I applaud your telling us about these services which can be so valuable to landlords. The fact that you are instrumental in setting up some of them speaks to your business acumen. We are happy to learn from you (and other posters) - and at the right price too!

Mark Alexander

14:01 PM, 14th March 2015
About 4 years ago

Reply to the comment left by "Sam Addison" at "14/03/2015 - 13:07":

Thanks Sam, much appreciated 😀
.

Matthew Turner

10:40 AM, 18th March 2015
About 4 years ago

Glad you have had such a good experience with lettings supermarket, it would be lovely if some of your 'owners luck' would rub off on my first experience with them ... lt currently it leaves something to be desired.

I have a great property in London listed with them currently unlet, with 600 zoopla views in the first 2 days, a single 2 hour viewing slot was provided, from that not one single feasible tenant has come forward (the referencing process went ahead on a tenant who, when I was provided with details at the end, transpired their previous landlord was a kebab shop, and it turned out this tenant had not even viewed the flat!).

So they are now back to searching for a tenant again, and we are weeks later in a super busy London market, the property is still empty. This is not a difficult let, it is keenly priced and now had over 2500 views on zoopla as of this morning.

I own 7 properties which I have successfully marketed and managed myself, all but one of them. I have never had a void like this, on such an easily rentable property in such a busy market. I was all on for delegating all my property rentals, but from this experience, not so sure this model is any better than any other, I am afraid ... I am afraid my impression so far of lettings supermarket is pretty slow service with very much a one man band approach, with lots of opportunities for Mia communication between the head office and the on the ground people used.
A high street agent would be able to do many more viewings to actually get people into the place... Letting supermarkets bungling of the marketing is already costing me most of what I would be saving over a local high street agent in this area...

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