Landlords 'must understand local marketplace'

by Gary Whittaker

This article was brought to you by Rentman the premium rent management software.

Landlords have been advised that it is important to understand the housing needs of the local area in order to successfully rent out their properties.

According to online letting agent, a property needs to be geared up to a particular type of person to give it the best chance of being let.

James Davis, chief executive officer of the site, explained that landlords should investigate what sort of properties are in demand in the areas where they are looking to let houses out.

Speaking at the recent Avoid the Voids webinar, he said: "Understanding who your tenant base is and what is happening to that in your local marketplace is a very key point to take on board."

Mr Davis' comments come after statistics released by the National Landlords Association (NLA) found that there has been a stabilisation in the void periods for rental property.

According to the NLA, the average void period is now 17 days.

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30-April-10Property Management