How Do You Know Which Properties to Target for Rent to Rent - R2R #R2Rshortandsweet #11
Are you unsure which properties to target?
We’ve outlined where to start to target the right properties for you.
How do you know which properties to target?
Should you be targeting all properties that are up for rent or only properties in a specific street?
There are two ways that we target properties:
Target properties that are already registered HMO’s
All registered HMO properties are on an HMO list that is held by each local council area and provide a list of names and addresses.
Within our Kickstarter course, we will give you some information on what to say to the council if they're being sticky as sometimes it’s not straightforward.
The council have a legal obligation to give that information publicly, but not all councils do it.
So here we’re targeting specific properties on specific streets that we know are already HMO’s.Working with letting agents
The letting agents will have a number of properties that are available to rent, so you will work with them to see if any of the properties meet your needs and if they're happy with the rent and you're happy with the rent, then that’s a good way to move forward with the letting agents.
Some people will send flyers to the whole street, but we wouldn’t recommend doing that - we feel it's not the perfect target market and the reply rates would be really low.
We like to focus on things that are 20% of the actions that then give you 80% of the results and that would be:
Sending landlord letters
Speaking to letting agents
Telling everybody you know about what you’re doing
These are the best ways of getting the best deals.
I hope you’ve found that useful and remember to subscribe to our YouTube channel for more informative and exciting rent to rent videos.
Bye for now.
Stephanie & Nicky
xx
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