It may sound like an option for opportunity, but renting your property rather than selling poses a whole host of issues that need to be thought through. Many of those 'accidental' landlords are facing long and quite expensive vacant periods and are in need of a concise approach to the entire lifecycle of letting their property in order to reduce time of vacancy as well as cost associated to finding the ideal tenant.
The demand for rental properties is set to remain strong over the next few years as the aspiration of home ownerships drops from number one as well as the continuing difficulty in obtaining mortgage financing. With this in mind, renters are also becoming increasingly more demanding in their requirements as renting is no longer a short-term bridging option to buying a home. The property must be priced well, close to local points of interest and offer amenities that are no longer considered a luxury such as a fast internet connection. Additionally, landlords are increasingly marketing their properties to the wrong demographic with many leads being lost through marketing campaigns targeting the wrong sector.
A good example of demand and supply not connecting is in the student accommodation sector, where at the start of term there are 1000s of students looking for homes and 1000s of available student flats but neither can find one another.
u-rooms allows landlords, letting agents and property managers across the UK to list properties on its website and informs landlords on the legal requirements placed upon them. Landlords can detail the type of person they want to let to and tenants create profiles to share their unique requirements. Creating a market place where all parties can come together to improve consistency and to connect demand. u-rooms connects to Facebook and other social networks to communicate in a way that this demographic demands. Moreover, the website offers agents unique dashboards and tools to manage their listings and prospects and improve on enquiry to let ratios. In summary, it is about minimising the time of vacancy and ensuring the best match between property and prospective tenant.
Mike Peirce, CEO of u-rooms ltd comments: “tenants, landlords and agents now have a place where they can connect, share best practice and create their own marketplace. Agents are also pleased as they can help opportunity landlords to better understand the complexities of housing law and all parties can save time, money and hassle by connecting the right person with the right home”
For more information visit: u-rooms.com
