London flat rental

London flat rental House or flat, property to rent or let






 

 

My ad isn't working well atall.

Occasionally people blame me for this.

This section is fairly frank. Once you've read it, you might hate me for a bit.

Flatshare ads turn over quite fast on MoveFlat, and you are advertising to a perceptive and articulate audience.

For every one flatshare ad that appears on the site there are in excess of 100 people visiting the site each day, looking for somewhere to live.

If your ad isn't moving, there are the two very boring explanations: price versus location.

If your room is in Lee and you are quoting £650 per calender month, and the bit you have to write in words reads 'friendly flatshare, all mod cons, close to transport, sharing with professional female,references required.' Then I would be confident that you will get near zero response, and I will probably have removed your ad already.

This is because people know they don't have to pay £650 pcm to live in Lee: With a bit of 'digging' around they can live in something a bit more more shabby, without a garden, in Zone 1 or 2, and maybe walk to work everyday.

If there's something really really special about your place, then you need to articulate this very well in your ad. Really well. And this doesn't mean you should jump into marketing hype: it won't work on this site.

You need to be anti-commercial: you are advertising somewhere to live. So this isn't an ad for low cholesterol marjarine, and it isn't one to tell people they should spray Dettol on their light-switches so other people don't catch colds.

Look at other ads on the site. In my opinion, the ones that stand out as being good, are humane and chatty without being too long on 'requirements.'

Owner Occupiers

I can offer some expertise here. I did it for several years. There are some pitfalls :-

If you are an owner-occupier, and your room ad isn't getting responses, then you might need to get out of the mind-set of assuming there is an infinite resevoir of people out there looking for rooms: there isn't.

If it's your home, then it isn't their home and that's a basic fact that isn't lost on anyone who's looked for a room in London more than once.

Without doubt, your property will have more character and better decor than one dedicated to rental.

This will have no impact whatsoever on the price you can charge.

There is a tendency for owner occupiers to claim a premium of £100-£150 pcm over the going rent for their rooms. You will probably lose money or sanity by doing this, because people will travel to see the middle-price rooms first. The 'good' people will be offered rooms within days, and they will never contact you because they have already found somewhere to live.

If you've recently landed a big morgage on the assumption that you'll be able to get a tenant, and it's not happening, then you've got to make some tough decisions: you're going to have compromise on price or who you want living with you. I've done this, and it's not easy. But the easiest is price: Don't get into the mindset of because it's your home therefore it's really special and commands a 'special price.' It doesn't. It's your home not theirs, and it commands no premium in the market whatsover.

Compromise heavily on your price, not your tenant, because you'll be happier and you'll make more money.

If you find yourself balking at my above statement, and saying to yourself 'well I don't want to reduce the price because I want the right kind of tenant.' Then I would respectfully suggest to you that that is logically faulty, and the real question is 'do you wish to live with someone atall.'

I told you I was going to be frank.

You don't get good tenants by charging a premium. But you can avoid getting someone for your room by insisting on a price that people won't pay: if they won't pay then that means there's a gap between what they want and what you want

I can't emphasize this enough: if you don't let your room for two months because it is overpriced by £75, your net loss on an average room on this site is in excess of £1200: DON'T do this ! If your rent is expensive, your tenant has a much lower threshold for moving on (you'll never really know that's the reason they did.)

If you're swimming in that bit between 'Well I quite like being on my own, but if someone is prepared to pay £800 for my second room in Docklands, then I might run with it, and I'll just run the ad to see... I won't run it for very long on the site. This sort of ad brings in a lot of complaints.