For those of you who don’t know, I’ve been in Vegas for the past 2 weeks; soaking in the sun, drinking extortionately priced cocktails and ogling at beautifully slutty women. It was great. And now, it’s disgustingly depressing to be back as reality starts to set in…
While I was away I received a missed call on my mobile from my tenant. I knew it had to be bad news because tenants don’t call landlords while their on holiday unless it’s desperately important. I didn’t want to overly concern myself with any work related shit while I was pimping myself in Vegas, so I didn’t bother returning my tenant’s call, I just sent him a text saying, “I’m still on Holiday, will call you in 2 days times when I return”, hoping the house hadn’t burnt down.
When I returned home there was a letter waiting for me from my tenant. In summary,
I hope you re well. I was trying to get a hold of you over the past 2 days, but I assume you were still on holiday.
I just wanted to let you know I’m terminating our tenancy agreement as I’m purchasing a house, which should be completed this month. I’m giving you a month’s notice, so I’m putting an initial date for leave on the 25th of June 2010.
Well, at least the house remains in tact. But, still, what a bag of SHIT! If there was one tenant I could keep forever, it would be that one! The guy’s a doctor (working professional) and he pays by standing order every month, on time! He’s basically the perfect tenant!! Anyways, now I have to waste time trying to find new tenants that aren’t scumbags. What a f’ing bore!!
Sidenote, the tenant is currently on a periodic tenancy, hence why his one month notice was completely valid.
Let’s start an experiment
While I’m in this current predicament, I figure I may as well kick start an experiment. I previously completed a successful experiment that I documented, where I found tenants without the aid of a letting agent by using free methods of marketing. You can read about that experiment and read deeper into the methods I used to Find Tenants Without A Letting Agent. A few people have told me that they copied the steps I took and they also managed to successfully find tenants, which was great to hear!!
My new experiment to find tenants is going to be slightly different, even though I’m still going to find tenants without using highstreet letting agents. Instead, I’m going to use one of the many “virtual letting agents” online, that give landlords access to market their vacant BTL property onto the most popular UK property portals on the internet. These virtual letting agents are online companies that market landlords properties across the biggest portals online (e.g. Rightmove and Findaproperty) for a relatively small fee. To find out more about what I’m talking about and to view a list of these virtual letting agents, go here, How To Advertise Your BTL For Tenants On The Biggest Property Portals Online.
I’m basically going to choose an online agent from that list, based on which I believe to be currently offering the best value. My idea of best value is simple. It’s the website that will get my property across the most popular property portals across the internet for the smallest fee. From what I’ve seen, the average price seems to be £50. For that amount, the online agents will market your property across the biggest portals online until your property is let. That’s still a hell of a lot cheaper than highstreet agents!!! Bearing in mind, most highstreet agents these days advertise and find tenants on these portals anyways, but charge 10x more for the privilege.
I’ll document my experience, and I’ll let you know if the website I end up using ends of being successful for me! Who knows, if the website works for me, you may also want to use their services…
A few snaps…
Just to keep things a little sexy, here are a few pics I took on my phone from Vegas, incase you happen to give a shit…
Disclaimer: I'm just a simple landlord blogger; I'm not qualified to give legal or financial advice. Any information I share is my opinion based on my personal experiences as an active landlord, and should never be construed as legal or professional advice. For more information, please read my full disclaimer.