Letting agents 'should provide incentives'

News Category: Marketing

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A buy-to-let expert has advised letting agents and landlords to offer incentives to tenants to improve their marketing success in the current climate.

Chris Jenkins, manager of buy-to-let lender and commercial finance firm Clarity Commercial, spoke of the need for innovation within their approach to residential lettings.

On a new development for rent, Mr Jenkins noted that hundreds of similar properties could be on offer for tenants at a similar price and so incentives, such as free bus passes for example, might prove successful.

His comments come after research by the Association of Residential Letting Agents in December 2008 reported that nine out of ten landlords were neither buying nor selling rental properties.

Given demand among consumers for rental accommodation because of a current shortage in mortgage availability, letting agents and landlords might need to invest in advertising or change their rent to attract tenants, Mr Jenkins continued.

"It is important to adopt an individual and bespoke approach to letting your property rather than adopting a 'one method fits all' which sadly some agents and landlords persist with," he said.

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