What are the quiet times of year to get tenants?

by Readers Question

16:13 PM, 7th August 2014
About 7 years ago

What are the quiet times of year to get tenants?

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What are the quiet times of year to get tenants?

I have a small HMO which I only let rooms to professional/working tenants. Just recently the enquiries to my ads have dried up.

I find this strange because the location is nice and central and the rooms are priced competitively. The house is in good order and has recently been redecorated with all new appliances and furniture.

I advertise on all the spareroom/houseshare sites, but things have dried up. I only have one tenant in at the moment who is more then happy living there and wishes to stay.

The thing is that bills are stacking up monthly and I need to make the house pay, so if I can’t turn things around I might be forced to sell. Has anybody else had quiet months? If so what months are they and when did things pick up?

Any suggestions will be great.

CarlHoliday

Comments

Sam Cowen

9:10 AM, 8th August 2014
About 7 years ago

Hi Carl,

there tends to be many more seekers than room offerers at the moment - but there will always be local patterns of high or low demand. You haven't said where your properties are. If you'd like to talk through your options and what you can do for free or very low cost, give SpareRoom customer services a call - we are open till 9pm nightly (8pm on weekends) - 01625 666 750.

Rob Crawford

21:23 PM, 10th August 2014
About 7 years ago

You need to be proactive and Spare Rooms encourages this. But also think about social media. A business facebook page just for your HMO allows you to advertise your rooms to your chosen market. I assume you are already using Gum Tree. Recruitment companies are worth talking to.

Renovate To let

8:56 AM, 11th August 2014
About 7 years ago

Firstly I would ask the existing satisfactory tenant if they know any prospective tenants (and offer £50 off the next months rent if they find one that passes your criteria and rents). Get A5 flyers in bars, fast food outlets, post offices etc locally.

Secondly, look very critically at your Spareroom ad versus others in your postcode area.

Are your photos bright, undistorted and able to give a very good idea of the size, quality and 'lifestyle' your property offers? (A one-off dressing of the rooms and professional photos is the answer if your own skills or kit are lacking). Remember these photos can be used into the future so the cost is an investment (and tax deductible).

Is your description in 'estate agent' or in conversational speech? The best response comes from describing as you would a property you had just bought and were excitedly telling your friends about.....

Are you very clear about what's included in the rent? Utilities, broadband, cleaner etc. This demographic wants one bill and clarity on what's left to enjoy life with.

Re hospitals, councils, other large employers. Just telling HR you exist is a waste of time.....ask for permission to place an A4 flyer on staff notice boards or add links to their intranet (and follow the same advice re pictures and description). Hospitals have masses of transient staff because of CPD requirements etc so they must be placing people somewhere....invite HR round for a viewing!

Thirdly you could look at a company let where the employer is your tenant and their employees occupy. Take advice re the agreement needed and make sure the company is sound before going this way though.

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